KUWAIT CITY: According to a report released by the International Monetary Fund (IMF), total foreign direct investment in Kuwait stood at $ 14.565 billion at the end of last year, and foreign direct investment from Kuwait amounted to approximately $ 32.741 billion. This means that foreign direct investment is more than double the foreign direct investment the country has attracted, reports the Al-Rai daily.
The report explains that Qatar ranks first in terms of foreign direct investment flow to Kuwait with a value of $ 3.288 billion, followed by Saudi Arabia with $ 908 million, the United Arab Emirates with $ 848 million. in dollars, from Bahrain with $ 746 million, and Oman in fifth place with $ 440 million. On the other hand, the Cayman Islands ranked first in attracting Kuwaiti investment, receiving $ 4.451 billion in investment from Kuwait.
In second place are Bahrain with $ 3.728 billion, followed by Saudi Arabia with $ 3.401 billion, Iraq with $ 3.126 billion, and Turkey with $ 2.932 billion. According to the latest results of the Coordinated Direct Investment Survey conducted by the IMF, the United States, the Netherlands, Luxembourg, China, the United Kingdom, Hong Kong, Singapore, Switzerland, Ireland and Germany were the top ten recipients of foreign direct investment. in the world at the end of last year. Total foreign direct investment centers grew by about $ 2.2 trillion, or 6%, from 2019 to 2020 (among economies that reported data for 2019 and 2020). Despite the uncertainties posed by the COVID-19 pandemic, the increase in foreign direct investment has been largely in line with the average annual increase over the past five years.
The IMF report said the increase in foreign direct investment during the period 2019 to 2020 was due to increases in Europe and Asia-Pacific. The UK tops the list in Europe with 18 percent. In the Asia-Pacific region, China was the main driver of the increase, as it posted the largest reported increase in inward and outward direct investment globally.
The centers of foreign direct investment in Africa decreased slightly compared to 2019. The United States occupied the first place as the main recipient of FDI in 2019, and strengthened this position in 2020, mainly thanks to the increased direct investment from Japan, Germany and the Netherlands. . These three economies have been responsible for most of the increase in FDI to the United States over the past three years. Low-tax countries such as the Netherlands, Luxembourg, Hong Kong, Singapore and Ireland remained among the largest direct investors and investment economies. They continue to be attractive destinations for various types of investments, including those directed through special purpose entities.
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