Kuwait is Middle East's largest and the world's seventh largest foreign investor, showed the World Investment Report of 2015, released by the United Nations Conference Trade and Development (UNCTAD) Wednesday.
Hong Kong, China, Russia, Singapore, South Korea, Malaysia and Kuwait topped the list of countries investing overseas, added the report. It noted that Kuwait also came first as in terms of outward foreign direct investment (FDI) in the West Asia region with total investments of US$ 13 billion. Qatar and Turkey placed second with total outward FDI of US$ 7 billion each. Then Saudi Arabia and the United Arab Emirates came third and fourth with US$ 5 billion and US$ 3 billion respectively.
The report shows a strong presence for the South Korean companies in Arab Gulf countries thanks to their highly competitive prices. Kuwait's Permanent Delegate to the UN and international organizations in Geneva Jamal Al-Ghoniem said that the outstanding outward foreign investments help boost Kuwait's economic leverage in the region and the world. He underlined the need to maintain such an approach and benefit from the leading Kuwaiti investments abroad.