Saudi Arabia was top MENA destination for foreign investment last year

Saudi Arabia was top MENA destination for foreign investment last year

The UAE topped regional countries in the number of new foreign projects with 327 projects and ranked second in terms of the value of investments, attracting $9 billion. Egypt witnessed the largest decline in new foreign direct investment in the region as investments slumped to $1.3 billion from $12.2 billion in 2019. The number of new foreign projects in Egypt dropped by 70 percent last year, while the jobs generated from them decreased by 76 percent. The UAE topped MENA countries in making foreign investments as it pumped $5.9 billion into 148 projects. Saudi Arabia ranked second, plowing $3 billion into 42 projects. Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. ( ).