The UAE has topped the Arab list as the best and most attractive destination for investment and business in auto sales activity for 2024, Arab Investment and Export Credit Guarantee Corporation (Dhaman) has said. The Kuwaiti-based Dhaman organization stated in its fourth sectoral report for 2024 on the automotive industry in Arab countries that five Arab nations - Saudi Arabia, Morocco, the UAE, Algeria, and Egypt - attracted 145 foreign projects, accounting for 79 percent of the total. These projects are valued at over $22 billion, representing 89 percent of the total investment, according to the Kuwait News Agency (KUNA).
These projects created more than 91,000 jobs with a share of 89 percent of the total, Dhaman said, adding that China was the most important investor in the Arab region with 27 projects worth $8 billion. The projects provided around 20,000 jobs. The Gulf countries, led by the UAE, topped the Arab list as the best and most attractive destination for investment and business in automotive sales activity for 2024, followed by Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain, respectively, it indicated.
Source: Economy Middle East
