UAE represents 77% of GCC investments in Latin America

UAE represents 77% of GCC investments in Latin America

UAE - Mubasher: The UAE has represented 77% of the GCC investments worth $4 billion in Latin American markets between 2016 and 2021, according to a whitepaper released by the Dubai Chamber of Commerce in collaboration with Economist Impact.

"Cultivating Ties: Deepening Trade and Investment Between Latin America and the GCC" report was published ahead of the Global Business Forum Latin America 2022, set to be held on 23-24 March at Expo 2020 Dubai’s Dubai Exhibition Centre.

The report's figures were released from a survey of 200 senior executives across various sectors in Latin America, carried out between May and July 2021.

Saudi Arabia has owned 22% of GCC investments to Latin America during 2016-2021, followed by Qatar with 1%.

Half of the GCC investments to Latin America were injected into logistics, distribution, and transportation companies, with DP World holding a large share of the investments.

Meanwhile, the GCC countries recorded around $500 million foreign direct investments (FDIs) from Latin America between 2017 and 2021.

Brazil and Argentina accounted for 85% and 13% of these investments, respectively.

The President and CEO of Dubai Chambers, Hamad Buamim, said: "Dubai Chamber of Commerce developed this report to provide more clarity and market intelligence on bilateral business opportunities that can