PHOTO
Foreign investors have pumped more than $1.5 trillion into projects in the Arab countries have the past 20 years and 2022 was a peak year for such investments, an official report has showed.
Some 9,854 foreign companies, mainly from Asia and the West, invested the funds in 16,153 projects in renewable energy, chemicals, industry, power and other sectors, a recent report by Abu Dhabi-based Arab Monetary Fund (AMF) showed.
The report showed 2022 was a peak year for foreign direct investment (FDI) in projects in the Arab region, standing at nearly $200 billion, or around 13 percent of the total investments of $1.507 trillion during 2003-2022.
The report showed 2008 was another busy year for FDI in the Arab world despite the crash of global markets, with investments of around $167.9 billion.
The lowest FDI was recorded during 2020 due to the spread of Coronavirus pandemic, with foreign capital inflow standing at around $32.2 billion, according to the report.
In 2022, Qatar emerged as the largest Arab FDI recipient, with a value of around $29.7 billion, the report said, adding that Saudi Arabia came second with $13.2 billion.
Morocco was ranked third with FDI of $15.3 billion, followed by the UAE with nearly $10.8 billion and Egypt with $10.6 billion.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
