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Saturday , October 1 2022

$3 billion FDI from Kuwait in 2021

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KUWAIT CITY, July 23: According to the World Investment Report 2022, foreign direct investments outward from Kuwait to other countries amounted to about $ 3.63 billion in 2021, reports Al-Rai daily. The recent report issued by the United Nations Conference on Trade and Development (UNCTAD) estimated the value of foreign direct investments that Kuwait attracted at about $198 million last year. It explained that the stock of foreign direct investments in Kuwait rose to about $15 billion in 2021 compared to $12 billion in 2020.

The stock of Kuwaiti foreign direct investment in foreign markets also rose to reach $36 billion last year from $28 billion. The volume of foreign investments that exited from Kuwait in 2020 amounted to about $7.98 billion. The global foreign direct investment flows recovered to pre-pandemic levels in 2021, reaching $1.58 trillion, which is an increase of 64 percent compared to 2020. However, the expectations for the current year are more bleak, as the report, which is titled “International tax reforms and sustainable investments”, highlighted that developing countries, in order to face the environment of uncertainty and move away from risk, must receive significant assistance from the international community. The report added that flows to developing economies rose by about 30 percent to reach $837 billion – the highest level ever recorded – while the share of developing countries in global flows remained just above 50 percent.

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