The UAE emerged as the largest Arab capital exporter in 2011 while it was second only to Saudi Arabia in attracting foreign direct investment (FDI).
By the end of last year, the UAE has pumped nearly $57.8 billion into global markets while it has attracted a total $85.5 billion in FDI since it was created 41 years ago.
Official Arab data showed Saudi Arabia, the largest Arab economy and world’s top oil supplier, remained on the top of the list of Arab FDI recipient, attracting nearly $185.8 billion. FDI flow out of the Gulf Kingdom totalled $29.9 billion.
The report by the Kuwaiti-based Inter-Arab Investment Guarantee Corporation (IAIGC) showed the funds pumped by the UAE into world markets accounted for nearly 32 per cent of the total Arab FDI outflow of nearly $177 billion
Kuwait was ranked third in terms of capital outflow with around $22 billion although the emirate emerged as one of the least attractive regional destinations for foreign investment, with capital inflow standing at around $10.7 billion by the end of 2011.
Qatar was the fourth largest FDI exporter in the region, with around $18.5 billion. FDI outflow in the other Gulf states of Bahrain and Oman stood at around $8.7 billion and $3.5 billion respectively, according to UNCTAD.
The report showed total FDI flow out of the six-nation Gulf Cooperation Council (GCC) stood at $140.3 billion, nearly 79 per cent of the total Arab capital outflow.
Egypt emerged as the third largest recipient of FDI in the region, attracting nearly $72.6 billion, followed by Morocco with around $46 billion and Lebanon with $40 billion.
In a previous report, UN figures showed the UAE was outstripped only by developed countries as it was ahead of most capital exporters in the developing nations.
IAIGC’s figures covered only FDI as they did not include capital channeled by the government-owned Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds (SWFs), with assets of between $300-800 billion.
Latest jobs available
- Senior Infrastructure Engineer - Basra - IraqHill International ,Basra, Iraq2014-09-01
- QA/QC Manager - Basra - IraqHill International ,Basra, Iraq2014-09-01
- Senior MEP Engineer - Basra - IraqHill International ,Basra, Iraq2014-09-01
- Customer Service Agent - Saudi Female,Jeddah , Saudi Arabia2014-09-01
- Project Design Manager / Senior Architect,Abu Dhabi, United Arab Emirates2014-09-01