Foreign direct investment in Arab countries dropped from US$90 billion in 2010 to $43 billion in 2011, pushing the region's unemployment rate to 16 percent, according to the Arab League.
On Tuesday, Arab League Secretary General Nabil al-Araby said investment had dropped significantly in a single year due to political upheaval during a Joint Arab Investment and International Cooperation conference in cooperation with the Arab Women Investors Union.
“The political developments in the region have adversely affected the flow of investment,” he said. “And this unemployment rate is more than double the world rate.”
Araby called for measures to foster favorable investment climates and the transfer of Arab capital, which contributes to new jobs and reducing poverty.
“This can only be achieved through legal systems that protect both the investors and the governments,” he said.
Edited translation from Al-Masry Al-Youm
