The UAE accounts for a 41 percent share of the $1.3 trillion received in foreign direct investment (FDI) projects across Arab countries between 2003 and 2021, according to the Arab Investment Export Credit Guarantee Corporation (Dhaman).
Arab countries have together attracted 14,443 foreign projects during the last 19 years.
“The number of foreign direct investment projects into the region rose by 37 percent and their capex grew by one percent between 2003 and 2021,” the firm said in its 37th annual report on the investment climate in Arab countries for 2022.
The Kuwait-based corporation added that the FDI projects have created approximately two million job opportunities, Wam reported.
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.
The number of foreign projects into the region rose by 15 percent, while their capex was up by 86 percent to $21 billion during the first quarter of this year, compared with the same period of 2021, according to Al-Sabeeh.
Western Europe was the main investor in the region during 2021, while Saudi Arabia was the top investment destination in terms of capex ($9.3 billion), while the UAE came in first with 455 projects.
Dhaman, a multinational organisation set up in 1974, provides guarantee services against commercial and non-commercial risks.
It is owned by the governments of Arab states and four Arab financial institutions.
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