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
 Aug 29 2016 - Zain Iraq to expand services deal with EricssonMENAFN
(MENAFN) Zain Iraq, a leading telecom operator and Ericsson signed a 3 year extension of their network and IT operation and optimization managed services deal.Ericsson will continue to optimize, ...

 Aug 29 2016 - Qatar-Barzan gas project to start in Nov at USD10bnMENAFN
(MENAFN) Qatar will start working at its Barzan gas project in Nov, as the Gulf States aims to meet growing local energy demand to host the soccer World Cup in 2022.Meanwhile, the USD10bn project, a ...

 Aug 29 2016 - Kuwait-Sanad Co. posts 330pct grow in Q2 profitsMENAFN
(MENAFN) Sanad Holding Co. registered a 330 percent increase in revenues in the second quarter of this year to USD603.43mn.On the other hand, the firm recorded USD183.40mn in the same period in ...

 Aug 29 2016 - Egypt budget deficit to be reduced by VAT at 1pctMENAFN
(MENAFN) Implementing the value-added tax (VAT) will collaborate to Lower Egypt budget deficit by 1 percent.Moreover, the money will go for subsided food commodities, financing the government Takaful ...

 Aug 29 2016 - Jordan-Egypt to facilitate customs e-linking projectMENAFN
(MENAFN) Egypt and Jordan agreed to active customs clearance procedures by applying e-linking project between the two nations.Furthermore, the deal also involved easing the transit of ships and ...

 Aug 29 2016 - Iran exports of oil products hit record highKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) TEHRAN, Aug 28 (KUNA) -- For the first time since the start of the oil industry in the Islamic Republic of Iran a century ago, the country's exports of oil ...

 Aug 29 2016 - Erdogan reiterates firmness against terroristsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) ANKARA, Aug 28 (KUNA) -- The President of Turkey Recep Tayyip Erdogan reiterated Sunday his country's firmness against any terrorist act and organization, ...

 Aug 29 2016 - Bomb explodes at institute of criminology in Belgium, no casualtiesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, Aug 29 (KUNA) -- A bomb exploded at the National Institute of Criminology in a suburb of Brussels last night but without causing any casualties. ...

 Aug 29 2016 - Pakistan, Saudi Arabia reaffirm pledge to promote cooperation in diverse fieldsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) ISLAMABAD, Aug 29 (KUNA) -- Pakistan and Kingdom of Saudi Arabia pledged to further enhance bilateral ties between the two brotherly countries and strengthen ...

 Aug 29 2016 - Two arrested for arson attack against Institute for Criminology in BrusselsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, Aug 29 (KUNA) -- Several attackers are believed to have been responsible for the attack against the Institute for Criminology in Brussels. The ...

more...


 





Google

Easy Forex
 
 

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