Pan-Arab investments ‘below ambitions’, says FAB president

AMMAN — Pan-Arab investments remain below ambitions and do not effectively reflect the capabilities of Arab countries, President of the Federation of Arab Businessmen (FAB) Hamdi Tabbaa said on Tuesday.

During an Annual Investment Meeting (AIM Global 2023) session in Abu Dhabi, Tabbaa said that inbound and outbound investments in the Arab region were affected by the COVID-19 pandemic, before improving again in 2022, citing the World Investment Report issued by the UN Conference on Trade and Development (UNCTAD).

Arab investments constitute a significant economic issue that deserves continuous research and nuanced discussion to keep pace with global and regional developments and manage their repercussions on the investment environment, Tabbaa said.

He stressed the need to identify obstacles hindering investment attraction, including factors that directly and indirectly affect investments. The FAB president also called for studying the impact of economic integration and growth rates on Arab investment advancement, and the factors involved in establishing Arab investments abroad, the Jordan News Agency, Petra, reported.

Tabbaa called for reviewing the Greater Arab Free Trade Area Agreement (GAFTA) to maximise its benefits while amending policies to unify standards and increase cooperation in customs matters. He likewise suggested investing in railway projects to facilitate pan-Arab trade.

Held in collaboration with the Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development, this year’s edition of AIM Global is held under the theme "The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity," bringing together over 600 speakers from 170 countries.