Gulf Cooperation Council states led the Arab world in terms of foreign direct investments (FDI) inflows during 2016, a report issued by the Kuwait-based Arab Investment and Export Credit Guarantee Corporation, Dhaman, stated.
UAE topped the list with around $9 billion, followed by Egypt and Saudi Arabia in second and third places respectively.
FDI inflows to Arab countries increased by 25% to reach $30.8 billion in 2016 compared to $24.6 billion the year before, the report added.
The total investment cost that was injected by no less than 773 new foreign investment firms in Arab countries in 2016 reached $94 billion, as more than 115,000 new jobs were created as a result.
The investment index focuses on countries’ ability to attract FDI based on the weaknesses and strengths of each nation’s economy and existing markets.
A total of 91 Arab companies launched investment projects outside their borders but in other neighboring Arab countries at a total cost of $22.2 billion.
Egypt received the lion’s share of intra-Arab investments with 60.4% of the total sum, followed by Saudi Arabia with 23.4% and Jordan with 3.4%.
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