KUWAIT:  The Arab Investment and Export Credit Guarantee Corporation (Dhaman) said on Monday that Kuwait was ranked fifth in Dhaman’s largest exports in the Arab region 2023 list in the 39th report of Investment Climate in Arab Countries for 2024.

In a press release, Dhaman stated that according to the report, Kuwait was ranked with 13 projects worth USD 2.5 billion (KD 918 million), that provided 2,000 job opportunities, and received eight new foreign direct investment projects during 2023 valued USD 83 million (KD 27.7 million) providing 329 job opportunities.

Dhaman added that Kuwait was ranked fourth on Arabs and 41st globally in the Composite Index for Investment Components for 2023, which rose two ranks compared to 2022, noting that Dhaman monitors the performance of 158 countries, including 21 Arab countries, in 190 main and sub-indicators in related fields.

Kuwait was also ranked sixth on Arabs with direct foreign investments worth USD 2.1 billion (KD 688 million) with 3.1 percent shares from total imports to Arab countries amounting USD 67.7 billion (KD 22.2 billion).

Dhaman also added that Kuwait ranked 14th on Arabs with USD 16.6 billion (KD 5.5 billion) with 1.5 percent shares of the total stocks of foreign direct investments of the total stocks of cumulative foreign direct investments imports to Arab countries which exceeded USD one trillion.

The Arab Investment and Export Credit Guarantee Corporation (Dhaman) is a pioneer multinational organization that provides guarantee services against commercial and noncommercial risks. Established in 1974 in Kuwait as the first multilateral investment guarantee provider in the world, Dhaman is owned by the governments of Arab states and four Arab financial institutions. — KUNA