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FINANCIAL NEWS
FDI flow into GCC jumps 13.8% in 2012
08 Apr 2013
(MENAFN) The Gulf Investment Corporation (GIC) stated that last year, foreign direct investment (FDI) flow into countries of the Gulf Cooperation Council (GCC) grew by 13.8 percent from a year before, reported Emirates 24/7.
Kuwait-based GIC, which is owned by the GCC governments, added that total FDI flow into the region reached USD27.9 billion, up from USD24.5 billion in 2011.
It attributed the increase to the ambitious development and diversification plans taking place in the GCC, with the 6 countries focusing their investments on several new sectors.
It is worth noting that both Saudi Arabia and the UAE are projected to have attracted over half of 2012 investments, mostly from the West and Asia, according to GIC.
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