Dubai – MENA Herald: The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that foreign direct investments (FDI) in the Arab World totalled USD 43.9 billion in 2014. The Arab Investment and Export Credit Guarantee Corporation (Dhaman), a Kuwait-based pan-Arab organization and the world’s first multilateral investment guarantee provider, compiled the statistics using the data received from 20 of the 22-country members of the Arab League.
According to the study, the UAE received more resources in 2014, totalling USD 10.1 billion, followed by the Kingdom of Saudi Arabia (KSA) and Egypt at USD 8 billion and USD 4.8 billion, respectively. The six-member Gulf Cooperation Council (GCC), comprising KSA, the UAE, Oman, Qatar, Bahrain and Kuwait, received almost half of the resources that were invested in the Arab World last year.
On the other hand, Arab countries made FDIs worth USD 33.4 billion in total. Kuwait was the biggest investor in the region with an investment of USD 13 million during the same period.
“The latest figures affirm that Arab countries have emerged as an attractive destination for FDIs over the last few years. The Gulf countries in particular have successfully garnered attention of foreign investors and businessmen, reinforcing the confidence of the region’s economy, attractive investment policies, and favourable business environment. Admittedly, FDIs spurs economic growth and the current statistics bodes well for the region which is witnessing steady momentum in various economic sectors. We are upbeat that the GCC along with rest of the Arab World will remain an appealing and thriving investment hub in the coming years,” concluded Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce.