By Staff writer
Foreign direct investment into Arab states is still 33% below pre-Arab Spring levels, according to a new report by an investment firm based in Kuwait
Foreign direct investment into Arab states fell 8 percent last year and remains 33 percent below pre-Arab Spring levels, according to a new report released in Kuwait.
Twenty Arab states attracted $43.9bn worth of FDI in 2014, compared to $47.5bn in 2013 and $66.2bn in 2010, the Kuwait-based Arab Investment and Export Credit Guarantee Corp said in its report.
Almost one-quarter of the total FDI - $10.1bn - went to the UAE, followed by Saudi Arabia with $8bn, or 18 percent.
Egypt received the third highest amount in 2014, $4.8bn, despite violence surrounding the election of President El Sisi in June.
The six Gulf Cooperation Council nations attracted almost half of all FDI, according to the report.
However, total FDI was only 4 percent of the world's total.
As oil prices plummeted during the second half of the year, outflows of Arab investments into other countries also dropped 10 percent to $33.4bn, the report says. Kuwait invested the most - $13bn.
The report excluded Syria and the tiny Comoros. FDI dropped in 15 of the 20 examined.