Guarantee: Foreign investment projects coming to Arab countries increased 37% in 2021

The Kuwait-based Arab Investment and Export Credit Guarantee Corporation (Daman) said today, Thursday, that the number of foreign direct investment projects received in the Arab region increased by 37% in 2021 based on Annually to reach 862 projects, with an investment cost of $32.8 billion, an increase of 1% over 2020.

The Foundation said in a statement on the occasion of the launch of its annual report on the investment climate in the Arab countries for the year 2022, that the situation of Arab countries in The majority of international indicators related to the investment climate improved in 2021.

The statement indicated that the total number of foreign direct investment projects in the Arab region rose during the period between 2003 and 2021 to 14,443 projects with an estimated investment cost. By about $1.3 trillion, indicating that these projects have provided nearly two million job opportunities.

The Director General of the Corporation, Abdullah Ahmed Al-Sabeeh, expected continued growth in 2022, especially after the increase in the value of foreign projects imported to the region By 86%, to reach $21 billion during the first third of 2022, compared to the same period in 2021, especially if… The negative repercussions of the Russian-Ukrainian war receded.

The report indicated that Western Europe came at the forefront of investors in the region for the year 2021 in terms of the investment cost of projects, led by the United Kingdom, which contributed about 7.5% of the cost, On the other hand, Saudi Arabia was the most important destination for foreign projects in the region in terms of investment cost of $9.3 billion.