Inter-Arab investments up by 34.6 per cent

The inter-Arab investments have surged by 34.6 per cent to reach $ 2.45 billion of which Egypt obtains 3.6 per cent, occupying the sixth position, according to a report by the investment guarantee corporation.

Saudi Arabia came on top of the investment-luring countries in 2001 at the value of 721.2 million, equivalent to 29.5 per cent of the total investments during this year, the report said.

Sudan ranked the second with investments reaching $ 554.9 million (22.7 per cent), followed by Algeria, $ 350 million (14.3 per cent), Lebanon $ 235 million (9.2 per cent) the United Arab Emirates (UAE) $ 215 million (8.8 per cent), then Egypt with total Arab investments amounting to $ 88.2 million (3.6 per cent), the report added.

Arab investments have increased during 2001 in nine Arab states, namely: Jordan, UAE, Tunisia, Algeria, Saudi Arabia, Sudan, Syria, Qatar and Libya and retreated in four others, namely: Lebanon, Egypt, Morocco and Yemen, according to the report.

Meanwhile, Saudi Arabia last year was the highest Arab investment-exporting country, at the value of $ 466.8 million (19.1 per cent of the total inter-Arab exported investments), followed by Syria, $ 305.3 million (12.5 per cent), the UAE $ 304.2 million (12.4 per cent), Jordan $ 281.9 million,

Kuwait $ 139.4 million and Egypt $ 177.3 million. These states have exported 72.5 per cent of the total inter-Arab investments, the report noted.

The services sector got the lion's share of the inter Arab investments, followed by industry then agriculture, according to the report.

The accumulated assets of the Arab investments during the period from 1985 till 2001 amounted to $ 17.2 billion, including all Arab countries, the report said.