Gulf Cooperation Council states led the Arab world in terms of foreign direct investment (FDI) inflows during 2016, as stated by a report issued by Dhaman, the Kuwait-based Arab Investment and Export Credit Guarantee Corporation.

The UAE topped the list with around $9bn, followed by Egypt and Saudi Arabia in second and third places respectively.

FDI inflows to Arab countries increased by 25% to reach $30.8bn in 2016 compared to $24.6bn the year before, the report added.

Total investments injected by no less than 773 new foreign investment firms in Arab countries in 2016 reached $94bn, as more than 115,000 new jobs were created as a result.

The investment index focuses on countries’ ability to attract FDIs based on the weaknesses and strengths of each nation’s economy and existing markets.

A total of 91 Arab companies launched investment projects outside their borders but in other neighbouring Arab countries at a total cost of $22.2bn.

Egypt received the lion’s share of intra-Arab investments with 60.4% of the total sum, followed by Saudi Arabia with 23.4% and Jordan with 3.4%.