Dhaman: Arab Countries Drew 1,129 Construction Projects Worth USD 430 Bln In '22

11/4/2024 9:08:31 AM

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Nov 4 (KUNA) -- Arab countries attracted 1,129 foreign projects in the construction sector from January 2003 to July 2024, with an investment capex of about USD 430 billion, creating more than 611,000 jobs, said Arab Investment and Export Credit Guarantee Corporation (Dhaman).
The UAE, Saudi Arabia, Morocco, Egypt and Oman drew 765 foreign projects with a share of 68 percent of the total, with an investment capex of more than USD 269 billion with a share of 63 percent, Kuwait-based Dhaman said in a press release on Monday.
The UAE came on top as the most important investor in the Arab region, having implemented 242 projects in the region over the past 22 years, with an investment capex of more than USD 139 billion, and creating more than 170,000 job, it said.
Saudi Arabia ranked first as the best Arab country in terms of lower risks and higher incentives to become the most attractive Arab market for investment in the infrastructure sector, followed by UAE, Qatar and Oman, respectively, it added.
It predicted a 3.6 percent increase in the total output of the construction sector in the Arab region (15 countries) to USD 498 billion by the end of 2024, representing more than 5 percent of the global total, with expectations that it will continue to rise to reach about USD 707 billion in 2030.
Arab countries' foreign trade in goods and services related to the construction sector is forecast to increase by 3 percent in 2023 to exceed USD 193 billion, representing 5.7 percent of total Arab trade in goods and services during the same year. (end)
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