Saudi Arabia largest beneficiary of American direct investments

Published August 16th, 2001 - 03:00 GMT

Saudi Arabia currently ranks first amongst all Middle Eastern nations in terms of foreign direct investments (FDI) received from the United States, according to Al-Watan daily.

In the year 2000, Saudi Arabia received a total of $4.184 billion in direct investments from the US. Algeria was the second largest recipient with a total of $3.339 billion, followed by Israel and Egypt, each receiving $3.2 billion and $2.735 billion, respectively.

Earlier this year, the issue of FDI was discussed at a meeting of the Gulf Cooperation Council (GCC) states. IMF representatives stressed that in order to boost foreign investment, the GCC countries must first prove political stability. –(MENA Report)