(Abdelazim Saafan/DNE Photo)
Foreign direct investment reached $1.074bn compared to $193.3m during the last quarter, state-run MENA reported the central bank recording. However this number is still 32% lower than Q3 2011/2012.
The report showed that the exit of foreign direct investment has decreased, with net outflows of funds totaling $1.085bn, compared to $2.270bn during Q2, while net inflows totaled $2.159bn, compared to $2.464bn during the previous quarter.
Arab countries increased investment from $311m in Q2 to $601.6m in Q3. Qatar reported the highest investment, with $295.5m, up from $55m in Q2. This was followed by Bahrain, which invested $156.4m in Q3 compared to $38.7m in the previous quarter. United Arab Emirates investment decreased from $129.3m in Q2 to $69.3m in Q3, along with that of Saudi Arabia, from $55.2m to $39m.
Investment from the European Union totaled $954.9m in Q3, a decrease of 26.7% from Q2. Europe’s foremost investor in Egypt, the United Kingdom, decreased investment by 33.3% to $586.9m. British investments in Q3 2011/2012 totaled $1.970bn.
Belgium was the second European investor, investing $169.7m in Q3. France placed third with $47.8m and Germany fourth with $36.3m.
Meanwhile, the United States investment decreased 19.8% to $445.5m.
