Incoming foreign direct investment (FDI) into the Arab World does not exceed one percent of total global FDI, stated the Board Chairman of the Arab Fund for Economic and Social Development, Abdullatif Al-Hamad, KUNA reported. He added that the FDI ratio must reach five percent annually over the course of this decade.
Saudi Arabia has been the largest beneficiary of FDI investments in the Arab World, accounting for 21 percent of the total FDI coming to the region. The kingdom has embarked on a campaign to encourage foreign investments following the enactment of a new investment law in early 2000. Since then, the Saudi Arabian General Investment Authority has approved some $10 billion in new foreign investment licenses. — (menareport.com)
© 2002 Mena Report (www.menareport.com )