The Arab Investment and Export Credit Guarantee Corporation (Dhaman) announced that the United Arab Emirates has topped the Arab list as the best and most attractive destination for investment and trade in auto sales activities in 2024.
Publish dateMonday 20 January 2025 - 14:03
According to Amac News: In its fourth report for 2024 on the automotive industry in Arab countries, the Kuwait-based Dhaman organization announced that five Arab countries—Saudi Arabia, Morocco, the United Arab Emirates, Algeria, and Egypt—attracted a total of 145 foreign projects, which constitutes 79% of all projects.
The value of these projects is more than 22 billion US dollars, which includes 89% of the total investment.
These projects have created more than 91,000 jobs, which account for 89% of all jobs.
Daman also added that China is the most important investor in the Arab region with 27 projects worth 8 billion dollars. These projects provided about 20,000 jobs.
The Persian Gulf countries, led by the United Arab Emirates, were listed as the best and most attractive destinations for investment and business in the automotive industry for 2024, followed by Saudi Arabia, Qatar, Kuwait, Oman and Bahrain.
According to Daman, the automotive sector in Arab countries from January 2003 to October 2024 attracted 184 foreign projects worth more than 25 billion dollars and created more than 102,000 jobs.
By the end of 2024, five countries: Saudi Arabia, the United Arab Emirates, Algeria, Morocco and Kuwait have accounted for 75% of the total car sales in the region.
Regarding the sale of individual cars in this region, it is predicted that more than 1.8 million cars will be sold by the end of 2024, which will increase by 4.5% compared to 2023, and Saudi Arabia is in the first place with a share of 45%.
The value of these projects is more than 22 billion US dollars, which includes 89% of the total investment.
These projects have created more than 91,000 jobs, which account for 89% of all jobs.
Daman also added that China is the most important investor in the Arab region with 27 projects worth 8 billion dollars. These projects provided about 20,000 jobs.
The Persian Gulf countries, led by the United Arab Emirates, were listed as the best and most attractive destinations for investment and business in the automotive industry for 2024, followed by Saudi Arabia, Qatar, Kuwait, Oman and Bahrain.
According to Daman, the automotive sector in Arab countries from January 2003 to October 2024 attracted 184 foreign projects worth more than 25 billion dollars and created more than 102,000 jobs.
By the end of 2024, five countries: Saudi Arabia, the United Arab Emirates, Algeria, Morocco and Kuwait have accounted for 75% of the total car sales in the region.
Regarding the sale of individual cars in this region, it is predicted that more than 1.8 million cars will be sold by the end of 2024, which will increase by 4.5% compared to 2023, and Saudi Arabia is in the first place with a share of 45%.
amacnews.com/vdch.xnit23n-x10d2.html
Source : news agency wam
Most viewed
