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12:26
Sunday, June 27, 2021
I wrote – Yasmine Selim:
Egypt won 14.5% of inward foreign direct investment in Arab countries in 2020, ranking second among Arab countries most receptive to investment last year, according to a report by the Arab Investment Guarantee Corporation and export credits (guarantor).
The Arab Society for Investment and Export Credit Guarantee “Daman” was established in 1974 as a joint Arab body owned by the governments of Arab countries, in addition to 4 Arab financial institutions, and is based in Kuwait.
Daman is the world’s leading multilateral investment insurance agency, according to its website.
Total foreign investment Egypt attracted over the past year amounted to $ 5.9 billion, down 35.1 percent from 2019.
The United Arab Emirates ranks among the most attractive Arab countries for foreign direct investment, attracting $ 19.9 billion last year.
Damen said the Arab investment climate has been negatively affected by the events and developments the Arab region has witnessed, especially with regard to the repercussions of the spread of the Corona virus and accompanying measures.
The following image shows the distribution of inward FDI flows to Arab countries in 2020 compared to 2019.
According to Damen’s report, most Arab countries recorded inflows of foreign investment, while only 3 countries, Kuwait, Qatar and Iraq, recorded foreign investment – that is -to say that they have witnessed the exit of foreign investments – during the past year.
The following image shows the distribution of foreign direct investment flows to Arab countries in 2020.
According to Daman’s data, Egypt is one of the 3 Arab countries which accounted for 58% of the cumulative balances of inward investment in the region.
Saudi Arabia acquired $ 241.9 billion with a 26.6% share, followed by the United Arab Emirates with a value of $ 150.9 billion and a 16.6% share, then Egypt with a value of $ 132.5 billion and a share of 14.6%.
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