MENAs FDIs down 23.4% in 2010.

By bne IntelliNews July 20, 2011
Foreign direct investments (FDIs) to the MENA region fell by 23.4% y/y to USD 64.2bn in 2010, The Daily Star reported citing data from the Arab Investment & Export Credit Guarantee Corporation (Dhaman). The main reason for the decline is the continued negative effect of the 2009 global financial crisis. The regions FDIs stood at USD 96.9bn in 2008. Saudi Arabia attracted more than a third of the FDI inflow, although the value of investments declined by 41% y/y mainly due to delayed or canceled oil projects. Qatar was the second largest recipient of FDIs, followed by Egypt and the UAE. FDIs to Qatar fell by 24% y/y, to Egypt by 5% and to the UAE by 1.4%. Lebanon, Morocco, Libya and Iraq were the only MENA countries that witnessed a rise of FDIs. The highest annual hike of 3.1% to USD 4.96bn was registered in Lebanon.
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