June 24, 2022
1 min read

UAE receives 41%of FDI projects attracted by Arab countries in two decades

The United Arab Emirates has received a 41 percent share of foreign direct investment projects Arab countries attracted between 2003 and 2021…reports Asian Lite News

According to the Arab Investment Export Credit Guarantee Corporation (Dhaman), Arab countries have attracted 14,443 foreign projects with a total capex of US$1.3 trillion over the last 19 years.

The corporation said in its 37th annual report on the investment climate in Arab countries for 2022, issued today, that the number of foreign direct investment projects into the region rose by 37 percent and their capex hiked by one percent, between 2003 and 2021.

The Kuwait-based corporation added that these projects have created approximately two million job opportunities.

It revealed an improvement in the setting of Arab countries in the majority of international indicators pertinent to the investment climate during 2021, which positively reflected on foreign direct investment projects in the region during 2021.

The corporation’s Director-General Abdullah Al-Sabeeh was quoted by the report as saying that the final result of changes in Arab settings in international indicators have positively reflected on foreign direct investments into the region amid expectations of continuing growth during 2022.

He added that the number of foreign projects into the region rose by 15 percent, while their capex hiked by 86 percent to US$21 billion during the first quarter of this year, compared with the same period of 2021.

ALSO READ:UAE leadership pays utmost attention to food safety

He pointed out that Western Europe was the main investor in the region during 2021, while Saudi Arabia was the top investment destination in view of the capex (US$9.3 billion), while the UAE came first in terms of the number of projects (455).

The Arab Investment Export Credit Guarantee Corporation (Dhaman) is a pioneer multinational organisation that provides guarantee services against commercial and non-commercial risks.

Established in April 1974 in Kuwait as the first multilateral investment guarantee provider in the world, Dhaman is owned by the governments of Arab states and four Arab financial institutions

Previous Story

Dubai’s rebound tourism welcomes 6.17 mn intl. visitors from Jan-May 2022

Next Story

India reopens its embassy in Kabul

Latest from Economy

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

Mali embraces solar power for rural areas  

The border village of Karan and its 3,000 people used to go days without electricity. Now, enough power is available around the clock to run small video gaming centers and boost commercial

Trump administration to formally end USAID 

The move will fully absorb all remaining USAID functions into the State Department effective July 1, and according to a reduction in force notice to remaining staff, will “obviate” the need for
Go toTop

Don't Miss

India’s Capri Global buys UAE T20 league franchise

The deal will be Capri’s first ever historic foray into

Indian expat wins UAE lottery, vows to help Odisha train tragedy victims

Mohammad, who has been trying his luck at various raffle