Direct foreign investment projects in Sultanate up by 7pc: Arab Investment Guarantee Corporation

Kuwait: The Arab Investment and Export Credit Guarantee Corporation, Dhaman, has said that the number of direct foreign investment projects in the Sultanate increased by 7 per cent and stood at 61 in 2019.

In its 35th annual report on the investment climate in Arab states (2020), Dhaman, pointed out that direct foreign investment credits entering the Sultanate increased during the period 2000-2019 from $2.577 billion to $31.332 billion.

The Arab organisation explained that the Sultanate garners 6 per cent of quotas of countries of the Arab region in terms of direct foreign investment. It noted that the Sultanate occupies an advanced position in the global “Ease of doing business index” and that Oman ranked 5th in the Arab region and 68th in the world.

In its report, the Arab Investment and Export Credit Guarantee Corporation said that the 2020 investment climate in Arab countries had a new outlook designed to keep pace with developments related to direct foreign investment projects arriving in the region, the domains of target investments and the exceptional economic situation resulting from Coronavirus (Covid-19) pandemic, particularly the impact on international trade and direct foreign investment.

The report dedicated a whole new chapter to prospects of direct foreign investment under circumstances of Covid-19, quoting the latest available data about profits and capital expenses of the most important 5,000 multinational companies (in terms of region and sector).

The report indicated that the share of investments flowing into Arab countries stood at 2.3 per cent of the total of $1,540 billion international credits, constituting 5.1 per cent of total funds entering developing countries ($685 billion). –ONA

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