Investments in region hit $496 billion 2011
Kuwait, August 8, 2012
Total foreign and domestic investments in Arab states rose in 2011 by 1.2 per cent to $496 billion from $490 billion in the previous year, a report said.
Algeria, Qatar, Saudi Arabia and the UAE accounted for 63 per cent of the investments, or $312.5 billion, said the report which covered 21 of the 22 members of the Arab League, the Kuwait-based Arab Investment and Export Credit Guarantee Corporation was quoted by our sister publication, the Gulf Daily News.
The report estimated total capital investments in the 21 Arab nations would reach $4.26 trillion over the next six years up until 2017, with Saudi Arabia accounting for more than $1 trillion, according to the report.
Capital investments in the Arab countries is expected to hit $559 billion in 2012 and will gradually grow to reach $779 billion in 2017, amounting to growth of about 40 per cent, it said.
The report based its optimistic outlook on huge investment plans already announced in the Gulf states.