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"Dhaman": Arab countries attracted foreign investments worth $430 billion in 22 years
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Kuwait - Mubasher: The Arab Investment and Export Credit Guarantee Corporation (Dhaman) stated that Arab countries attracted 1,129 foreign projects in the construction sector during the period from January to
January 2003 to July 2024 (i.e. about 22 years) at an investment cost of about 430 billion US dollars and providing more than 611 thousand jobs.
On the occasion of issuing its third sectoral report on the infrastructure and construction sector in Arab countries, the institution stated that the UAE, Saudi Arabia, Morocco, Egypt and the Sultanate of Oman attracted 765 foreign projects at a cost exceeding $269 billion, and these projects provided more than 371,000 jobs, according to the Kuwait News Agency.
She revealed that the UAE topped the list as the most important investing country in the Arab region, as it implemented 242 projects in the region during the mentioned period, with an investment cost exceeding $139 billion and providing more than 170,000 job opportunities.
She said that Saudi Arabia ranked first as the best Arab country in terms of the least risks and highest incentives, making it the most attractive Arab market for investment in the infrastructure sector, followed by the UAE, Qatar and the Sultanate of Oman, respectively.
Daman Investment expects a 36% increase in the total construction activity output in the Arab region to $498 billion by the end of 2024, representing more than 5% of the global total, with expectations of a continued increase to reach about $707 billion in 2030.
She added that the total added value of construction activity in the Arab region is likely to rise by 3.9% to reach about $219 billion by the end of 2024, with expectations of continuing to rise to reach $317 billion in 2030.
She pointed out that the value of Arab countries' foreign trade in goods and services related to construction activity increased by 3% in 2023 to exceed $193 billion, which represents 5.7% of the total Arab trade in goods and services during the same year.
It is noteworthy that the Arab Investment and Export Credit Guarantee Corporation is a joint Arab body owned by Arab countries in addition to four Arab financial bodies. It was established in 1974 and is headquartered in the State of Kuwait.
