Iraq Stands at No 12 in Arab countries

Iraq Stands at No 12 in Arab countries

Arab countries are attracting foreign investors because of their strong economy and abundant natural resources. Shafaq News reports that Arab countries have published their annual investment report for the year of 2012. Inter-Arab Guarantee and Export Credit exposed the statistics that Arab countries received $47 billion last year in the head of direct foreign investment which is 110% over the last year.

That increase in the foreign direct investment was the result of multiple factors. The flow increased within 14 Arab countries. Inflows dropped to $5 billion. Acceding to the reports, Saudi Arabia led the ship with 25% share in the total $47 billion i.e. is $12.2 billion. UAE stood second with $9.6 billion which is 20% of the total FDI, and Lebanon with $3.68 billion is at number three.

The report pointed out that Iraq with $1.27 billion is at 12th position with 2.7% share followed by Bahrain and Libya respectively. Banking experts are expecting that with the help of more oil exports and involvement of the multinational companies in the development projects, things will get better soon. Currently 2.7% share is very low as compared to the other Arab countries.

Abnormal law and order situation are the main hurdle in bringing foreign investors into the country. The Iraqi government is facing many political, religious and financial challenges at the same time. People carrying heavy amounts of Iraqi currency are still hoping the bright future of Iraq which would lead to the best value of their investment.

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