image description
image description
Tell A Friend

Archives


  • 11-05-23

    MENA region sees surge in FDI market share, driven by top five countries

    (MENAFN) The Middle East and Africa have achieved the largest gain in FDI market share in 2022, according to a new report by the Investment Monitor, which provides data, insights, and analysis on FDI. The report revealed that Saudi Arabia, the UAE, South Africa, Egypt, and Qatar were the top five countries that drove foreign direct investment in the region. The Middle East has been the fastest-growing region for FDI since 2019, surging 13.6 percent in 2022 compared to the previous year, while Africa's FDI also increased by 17.7 percent in 2022 when compared with the previous year.

    Despite losing global market share, Europe, Asia, and North America continue to be the top three regional markets for FDI, according to the report. The report, titled "Investment Monitor's FDI Report 2023: A Focus on the Middle East & Africa," was launched on the second day of the Annual Investment Meeting in Abu Dhabi and sheds light on potential opportunities for securing an even larger share of FDI as investors seek green investment.

    The report also revealed that digitalization and green energy were at the top of investors' priorities during the year. Major investments in the region include British firm J.O. Steel's $865-million integrated billet manufacturing plant in Saudi Arabia and India's ACME Cleantech's $13 billion investment in green hydrogen in Egypt. France's TotalEnergies and its partner China National Offshore Oil Corp. also invested in a $10-billion crude oil production site in Uganda, according to Glenn Barklie, chief economist at Investment Monitor and head of FDI services at Global Data Media.

    Barklie noted that there are over 1,600 ultimate parent companies that have invested in the Middle East and Africa in 2022. While there has been a lapse in the time frame, he said, there has been significant growth in 2021 and 2022 as a rebound. The report's findings highlight the potential for the Middle East and Africa to continue attracting foreign investment, particularly in the areas of digitalization and green energy. As the region continues to grow and develop, it is expected to remain an attractive destination for investors seeking new opportunities and growth potential.

    MENAFN11052023000045014228ID1106224096

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved