The Kingdom of Saudi Arabia topped the list of the largest Gulf countries investing abroad with a share of 49 percent during the second quarter of this year, according to the report of the Arab Corporation for Investment Guarantee and Export Credit (guarantee).
The UAE came second after Saudi Arabia in the list of GCC largest countries investing abroad with a share of 38%, then Bahrain 10%, Qatar 2%, and Kuwait 1%, while investments were not monitored from Oman.
Saudi Arabia was also among the five largest destinations targeted by Gulf investment at 11 percent, along with four other destinations - Uzbekistan, Egypt, Australia and South Africa, with shares of 25, 10, 6 and 5 percent, respectively, knowing that the five destinations accounted for about 57 percent of the total investment cost of projects.
According to the report, the number of new foreign direct investment projects issued by the Gulf Cooperation Council countries in the world reached 70 projects, at an investment cost of $\4.9 billion. The report monitored the increase in the shares of the Emirates and Bahrain, compared to the decline in Qatar's share of total investments during the second quarter compared to the first quarter of last year.
On the level of foreign investment projects in the Arab countries, according to Daman, the number of new foreign direct investment projects in the region decreased by 30 percent to 185 projects, as well as the investment cost of these projects at a rate of 27.3 percent to $11.2 billion, and jobs created at a rate of 23% to 21.3 thousand jobs.
Source (Al-Arabiya.net website, Edited)
