Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi Kingdom, UAE capture 46% of FDIs in Arab states  Join our daily free Newsletter

MENAFN - Arab News - 14/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi Arabia and the UAE captured 46 percent of the foreign direct investments (FDIs) flowing into the Arab countries in 2012, an Arab investment forum was told in Kuwait.

Addressing the forum, Kuwait Minister of Commerce and Industry Anas Khalid Al-Salih said localization of Arab investments and attraction of foreign investments are not merely the responsibility of investment promotion bodies but other relevant parties ought to be involved, notably those concerned with planning, legislations, infrastructure and utilities.

He said Kuwait investments registered continued growth in the Arab countries which earned it to occupy the first rank in the list of the Arab world's largest exporters of inter-Arab investments.

Kuwait also contributed to set up and host a cluster of Arab economic organizations such as the Arab Fund for Economic & Social Development (AFESD), the Arab Planning Institute (API), the Arab Investment & Export Credit Guarantee Corporation, the Organization of Arab Petroleum Exporting Countries (OAPEC), and the Arab Towns Organization (ATO), he said.
It also supported all of their activities to enhance economic cooperation, encourage investments, planning and development in these countries, he added.

AFESD Board Chairman Abdulatif Al-Hamad admitted that Arab economies did not succeed to become an important investment attraction destination for FDIs where Arabs' share did not exceed 5 percent to the global investment inflows in the last ten years with the exception of two countries - Saudi Arabia and the UAE.

The two countries held 46 percent of the overall FDIs in Arab countries in 2012, which were estimated at 48 billion (SR180 billion), he said.
He added that all countries, oil and nonoil, are pressingly in need of foreign investments that will allow them to import and localize new technologies, integrate into global markets and create 50 million jobs over the next 20 years. The Arab countries have to face poor natural resources, notably water, which has become insufficient for use in agriculture, industry and domestic consumption. They will, further, face challenges in oil and gas resources whose rate of consumption is poised to reach 60 percent of their production in years to come, he said.

Meanwhile, DHAMAN General Director Fahad Rashid Al-Ibrahim said the investment environment in the region witnessed improvement in the second half of the decade of the current century thanks to reforms introduced by the respective governments with regards to legislations, infrastructure and activation of the private sector's role.

Accordingly, the volume of FDIs flowing into the region jumped to 436 billion in the period 2005-2010 compared to 69 billion in 1999-2004 period, he said.
On the other hand, inter-Arab investments grew to nearly 145 billion in the period 2005-2010 compared to 20 billion in 1999-2004, he said.
However, the recent developments in the region cut the FDIs to 90 billion in the period 2011-212 compared to 141 billion in 2009-2010, or a decrease of 57 percent, he pointed out.

 


Arab News




  MENA News Headlines
 May 4 2015 - Dubai tourism shows 8.2 percent increase in 2014MENAFN
(MENAFN) The emirate of Dubai welcomed a total of 13.2 million tourists in 2014, marking an 8.2 percent increase when compared to the same period a year earlier, Arabian Business reported.The yearly ...

 May 4 2015 - Saudi- Education Minister signs agreement with UNESCOSaudi Press Agency
(MENAFN - Saudi Press Agency) The Minister of Education and Chairman of the Board of Directors of Regional Centre for Quality and Excellence in Education, Dr. Azzam Al-Dakhil, and Director of ...

 May 4 2015 - Saudi- Custodian of the Two Holy Mosques condoles Gabon's PresidentSaudi Press Agency
(MENAFN - Saudi Press Agency) The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has sent a cable condolences to President Ali Bongo Ondimba of Republic of Gabon on the death of ...

 May 4 2015 - Saudi- Crown Prince condoles Gabon's PresidentSaudi Press Agency
(MENAFN - Saudi Press Agency) Crown Prince Mohammed bin Naif bin Abdulaziz, Deputy Premier and Minister of Interior has sent a cable condolences to President Ali Bongo Ondimba of Republic of Gabon on ...

 May 4 2015 - Saudi- Competition Council participates in Exhibition of Arab Forum for Combating Commercial FraudSaudi Press Agency
(MENAFN - Saudi Press Agency) The Competition Council is participating through a special pavilion in the activities of the exhibition of the fourth Arab Forum to combat commercial fraud and ...

 May 4 2015 - Egypt's Orascom to construct USD1.5b monorail in EgyptMENAFN
(MENAFN) Orascom, the Egyptian Construction firm, and the Canadian Bombardier Inc are set to construct a USD1.5 billion monorail close to Cairo, according to Egypt's housing minister, Reuters ...

 May 4 2015 - Kuwait- Bill Seeks Free Education For All At Government SchoolsArab Times
(MENAFN - Arab Times) MP Faisal Al-Kandari has presented a draft bill to amend Article One of Compulsory Education Law Number 11/1965 to grant free education to everyone residing in Kuwait, not just ...

 May 4 2015 - Kuwait- MOE Facing Problems Related To Ranks For ExpatsArab Times
(MENAFN - Arab Times) The Ministry of Education is currently facing problems related to the occupational ranks for non-Kuwaiti teachers, because the Civil Service Commission (CSC) has refused to ...

 May 4 2015 - Kuwait- 'Citizens, Expats Must Take Measures To Prevent Fires'Arab Times
(MENAFN - Arab Times) Citizens and expatriates must take all the necessary measures to prevent fire incidents which are common during summer, says Colonel Khalel Al-Ameer from the Public Relations ...

 May 4 2015 - Kuwait- Reduce 'Mandoubs', Pay Hike Not More Than KD 50Arab Times
(MENAFN - Arab Times) The Ministry of Interior and its social affairs and labor counterpart have agreed to lay down new regulations to prevent manipulation of work permit and driving license ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help