Intra-Arab investments ‘below ambitions,’ says official

President of the Federation of Arab Businessmen (FAB) Hamdi Tabbaa said intra-Arab investments are still below ambitions and do not adequately reflect the capabilities of Arab countries. During his participation in an Annual Investment Meeting (AIM Global 2023) session in Abu Dhabi, Tabbaa added that inbound and outbound investments in the Arab region were affected by the pandemic’s repercussions, but they picked up again in 2022, according to the World Investment Report issued by the United Nations Conference on Trade and Development (UNCTAD). Tabbaa indicated that Arab investments are a significant economic issue that needs continuous research and discussion from various aspects to keep pace with global and regional developments and repercussions in the investment atmosphere, said a statement issued Tuesday by the Amman-based FAB. He underlined the need to identify barriers hindering the attraction of investments, factors that directly and indirectly affect investments, the impact of economic integration and growth rates on Arab investment advancement, and factors leading to Arab investment established abroad. The Greater Arab Free Trade Area Agreement (GAFTA), he continued, must be reviewed to achieve the ultimate benefit from its advantages, while amending policies to unify specifications and standards and cooperate in customs affairs, in addition to investing in railway projects that facilitate Arab trade. Held in collaboration with the Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development, this year’s edition of AIM Global is themed “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity,” bringing together over 600 speakers from 170 countries.

Source: Jordan News Agency