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Article: SAUDI ARABIA - Oct 17 - Kingdom Is Top FDI Recipient In Arab World.
- Article from:
- APS Diplomat Recorder
- Article date:
- October 20, 2007
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Saudi Arabia is the largest recipient of foreign direct investment (FDI) in the Arab world in 2006, attracting $18 bn, an increase of 51% over 2005, according to a report of the UN Conference on Trade and Development (UNCTAD). The report, attributed the increase to the region's strong economic growth and improved business climate and to high oil prices which have attracted increasing amounts of FDI to oil, gas and related industries as well as to telecom, tourism and financial services. The unprecedented increase in FDIs came after Saudi Arabia took a series of measures to attract foreign investment. The Supreme Economic Council (SEC) revised the negative list last March, ...