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Mena not doing enough to attract FDI: report
- Middle East: Tuesday, February 05 - 2013 at 06:02
The World Bank has said governments in the Middle East and North Africa (Mena) region are not doing enough to attract foreign investors, compounding the economic problems facing several countries in the wake of the Arab Spring, Muscat Daily has reported. According to a study by the global financial institution, 16 of the 19 national investment agencies in the region failed to respond to inquiries from prospective investors. "Business opportunities are being lost in MENA mostly because of the public image, worsened by the recent unrest in many countries of the region, which translated into the postponement or cancellation of investment deals and their subsequent relocation to perceived safer destinations," said Robert Whyte, lead investment promotion specialist for the World Bank.
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