Inter-Arab investments grow by 42.1% in 1998

Inter-Arab investments have reached in 1998 $2.25 billion, growing by 42.1% in comparison with $1.59 billion invested the year before.

According to the Kuwait-based Arab Investment Guarantee Corporation, Lebanon, which received $400 million of Arab investment was the largest recipient, followed by Egypt ($385 million) and the United Arab Emirates ($325 million).

Morocco attracted $39.2 million (1.7% of Arab total investments).

A percentage of 92.9% of the invested amounts went to the sector of services and 7.1% to industry.

Arab capital invested in Morocco came from the United Arab Emirates (41.8%), Saudi Arabia (30.1%), Kuwait (22.7%) and Syria (5.4%), says the corporation's annual report.