Miami cited as hot prospect for foreign investment

Miami cited as hot prospect for foreign investment    Miami has been ranked among the top 10 cities in North America for its potential for foreign investments.
   The magazine fDi, a Financial Times publication focused on foreign direct investment, rated Miami No. 10 in North America in its 2007 list of top 'North American Cities of the Future,' based on economic potential, cost effectiveness, business-friendly environment, development, investment promotion, infrastructure and quality of life.
   'This latest top ranking for our area further solidified our standing as one of the world's leading international business centers,' said Frank Nero, president and chief executive officer of The Beacon Council, a public-private organization in Miami devoted to promoting business and commerce. 'Ranking as one of the top 10 North American cities of the future by this very well-respected publication underlines the fact that we are now competing with major metropolitan areas such as Chicago (ranked No. 1) and Boston (No. 9).'
   Miami was the only city in Florida to be recognized by fDi. The only other city in the Southeast was Atlanta, which ranked fourth. Guadalajara and Mexico City, Mexico, were ranked fifth and eighth, respectively.
   The magazine's annual rankings also placed Miami at No. 3 for overall cost effectiveness, and No. 5 for its infrastructure.
   The magazine said nine judges reviewed nominations for 108 cities, and used 60 criteria to determine the final rankings.