Morocco moved up three positions in the 2023 “Dhaman” index for investment climate components, according to the Arab Investment and Export Credit Guarantee Corporation statement released on Monday.
Morocco now ranks alongside Jordan, Algeria, and Egypt between 82nd and 103rd globally, outperforming the Arab average. This positive development comes despite a decline in the global ranking of these countries, except Morocco.
The data from the 39th annual report indicates that the remaining Arab countries, including Tunisia, Iraq, Libya, Djibouti, Mauritania, Lebanon, Syria, Yemen, Palestine, Sudan, and Somalia, rank between 114th and 158th globally, below the Arab average and near the bottom of the 158-country ranking.
The report said that Gulf Cooperation Council (GCC) countries continue to dominate the Arab investment climate rankings, with the United Arab Emirates (UAE) retaining its top spot in the region and 18th globally, despite a one-place drop compared to 2022.
Qatar follows in second place Arab-wide and 34th globally, slipping three positions, while Saudi Arabia maintains third place Arab-wide and 36th globally, down two places.
Kuwait ranks fourth Arab-wide and 41st globally, gaining two positions, followed by Oman in fifth place Arab-wide and 51st globally, up one position.
Bahrain rounds out the top six Arab countries, securing sixth place Arab-wide and 59th globally, advancing five positions in the 2023 ranking.
The report also notes that inter-Arab investment growth continued in 2023, with the number of inter-Arab investment projects increasing by 20% to 305 projects and their cost surging by 37% to $66.3 billion during the same year.
Saudi Arabia emerged as the top destination with 110 projects, accounting for over 36% of the total, while Mauritania led in terms of investment cost at $34 billion and a 53% share of the total cost of inter-Arab projects, driven by a single renewable energy project.
In contrast, inflows of foreign direct investment (FDI) to Arab countries witnessed a 12.4% decline, reaching $67.7 billion in 2023. This decline coincides with a drop in the region’s share to 5.1% of the global total and 7.8% of total inflows to developing countries.
The annual report said that Arab governments must continue reforms that strengthen the investment and business climate in their respective countries, positioning them as attractive destinations for various types of foreign investment.
The new index assesses the performance of 158 countries, including 21 Arab states, on 190 key and sub-indicators related to the investment climate. It was compiled by 33 international organizations.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.