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The Kuwait-based Arab Investment and Export Credit Guarantee Corporation (Daman) said foreign direct investment flows to Arab countries deviated from expectations and rose 2.5 percent to $ 40.5 billion. dollars in 2020.
In a press release regarding the publication of the annual report on investment climate in Arab countries, the company added that these investments accounted for 6.1% of the total inflows to developing countries, and 4% of the total. global flows amounting to around $ 999. billion in the same year.
She underlined the continued geographic concentration of inflows to Arab countries, with the top five countries accounting for 95% of total inflows.
The United Arab Emirates ranked first with $ 19.9 billion, followed by Egypt with $ 5.9 billion, Saudi Arabia with $ 5.5 billion, Oman with $ 4.1 billion of dollars and finally of Lebanon with 3.1 billion dollars.
“The investment climate in Arab countries in general has been negatively affected by the events and developments the region has witnessed, given the repercussions of the spread of the novel Corona virus and accompanying measures,” said the Director General of the Foundation, Abdullah Al. -Sabeeh.
The statement added that the business services, software and financial services sectors rank respectively in the top three positions of these investments, with a 50% share of the number of projects.
The report found that inter-Arab investment projects fell by 42% during the same period.
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