Doha: Qatar has attracted 71 percent of investments into the Middle East in the second quarter of the year (Q2 2022), creating 6, 680 jobs across 11 projects and securing investments worth $19.2bn, the Investment Promotion Agency Qatar (IPA Qatar) said yesterday.
In its quarterly update on the foreign direct investment (FDI) trends, IPA Qatar monitors FDI flows and trends both regionally and globally using in-house and third-party data sources.
The latest IPA Qatar’s update on the Middle East highlights the FDI Markets data, showing that Qatar has attracted 71 percent of investments into the Middle East region in Q2 2022, creating 6,680 jobs across 11 projects and securing investments worth $19.2bn. The top sectors were software and IT, business services, financial services, and coal, oil and gas.
Global FDI surpassed pre-pandemic levels, reaching its highest level in the past five years as a result of an uptick in merger and acquisitions activity and global corporate restructuring, particularly in the technology sector. In Q2 2022, as many as 3,658 projects were recorded, creating 479,319 jobs, and attracting investments worth $224bn globally.
In the same period, FDI projects in the Middle East accounted for 12 percent of global FDI. As many as 237 projects were recorded, creating 17,975 jobs and attracting a total of $27bn worth of investments into the Middle East.
Software and IT services was the top sector with 30 percent of projects in the region. The US was also the largest source of FDI.
FDI into the Middle East has quadrupled in Q2 2022, from $6.6bn in Q1 to $27bn in Q2, indicating strong growth and rebound from the pandemic.
According to Wavteq, the Mena region recovered much faster compared to the rest of the world and is expected to be the best performing region globally for attracting FDI in 2022.
For IPA Qatar’s latest reports and economic insights, visit https://www.invest.qa/en/insights