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
 Mar 3 2015 - Cruise liner traffic bound for Abu Dhabi to grow 25 percentMENAFN
(MENAFN) An increase of 25 percent in cruise liners calling at Zayed Port will help to lift the number of cruise tourists by 50 percent this season, The National reported.This season above 94 vessels ...

 Mar 3 2015 - UAE non-oil business growth declines in FebruaryMENAFN
(MENAFN) Business activity growth in the UAE non-oil private sector decreased to a five-month low in February but remained strong and above the average for 2014, a corporate survey showed, The ...

 Mar 3 2015 - Kuwait Fund grants USD23.8m to irrigation project in Lao RepublicMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement in the city of Vientiane with the Democratic Republic of Lao, whereby the Kuwait Fund will offer the government ...

 Mar 3 2015 - Bahrain to launch USD22b development projectsMENAFN
(MENAFN) The government of Bahrain will be carrying out giant development projects with a value exceeding USD22 billion, Minister of Information said, KUNA reported.Bahrain is continuing with its ...

 Mar 3 2015 - KFAED finances USD13.47m loan to BelizeMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) provided a USD 13.47 million loan to Belize to help in a road restoration project, a statement by the fund showed, KUNA reported.The ...

 Mar 3 2015 - FDI in Qatar posts USD30.65bMENAFN
(MENAFN) Foreign direct investments (FDI) inflow to Qatar registered USD30.65 billion at the end of 2012, a 1.2 percent growth from a year ago. Though the FDI has targeted various economic activities ...

 Mar 3 2015 - Oman's Raeco to invest USD395.75m for power expansionsMENAFN
(MENAFN) A total of USD395.75 million will be invested by Rural Areas Electricity Company (Raeco) in the next three years to raise the power generation capacity, transmission lines and distribution ...

 Mar 3 2015 - Kuwait Investment to cut US investmentMENAFN
(MENAFN) The Kuwait Investment Office (KIO), the London branch office of sovereign wealth fund Kuwait Investment Authority, is gradually reducing its overweight stance on US assets after keeping that ...

 Mar 3 2015 - Oman's NDC hits sales revenue of USD60.47m in 2014MENAFN
(MENAFN) National Detergent Co. (NDC), one of the leading FMCG companies in the sultanate, has posted total sales revenue of USD60.47 million for full-year 2014, compared with USD56.13 million a year ...

 Mar 3 2015 - 100 per cent rise in FDI expected this yearKhaleej Times
(MENAFN - Khaleej Times) Egypt expects 100 per cent increase in foreign direct investment, or FDI, during the current fiscal year compared to last year, Investment Minister Ashraf Salman said on ...

more...


 






Google

Click to Apply

 
 

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