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Broader MENA Investment Summit Highlights Opportunities in Region

Investors are committed to exploring new opportunities within the Middle East and North Africa, where governments are showing greater willingness to foster cross-border investment and reduce red tape. That was a key finding presented by MIGA’s Executive Vice President, Yukiko Omura, speaking at the Broader MENA Investment Summit held February 21-22 in Dubai.

MIGA co-organized the two-day event with the Islamic Corporation for the Insurance of Investment and Export Credit, a member of the Islamic Development Bank Group, in association with Dubai International Financial Centre. About 250 delegates comprising top-level business executives and financiers from the Middle East, North Africa, Turkey, Sudan, and Pakistan attended the summit.

Omura told delegates she was “struck by the commitment of investors to explore new opportunities within MENA and beyond, and of lenders to find innovative financing solutions for those investments.”

“In the Gulf states, investors and banks are increasingly looking beyond the immediate Gulf region for investment opportunities—either to seek higher returns or because they are becoming global players,” she said.

Omura said that investors and lenders are looking for higher returns, but that higher yields always carried proportionately higher risk. The role of MIGA was to find attractive solutions to this challenge, stimulating finance for foreign investment while mitigating the risks involved, she said: “MIGA is strengthening its efforts in the region, directly or through partners, to support investors and focus on private investment and public-private partnerships.” Click for more in English and Arabic.

Committed to promoting socially, economically, and environmentally sustainable projects, MIGA has issued over 30 guarantees, supporting over $1 billion of investments, for companies and banks based in the region. MIGA caters to the different risk mitigation needs of large, complex transactions, as well as small investments. For more on MIGA’s work in the region, click here and here.

MIGA also helps investors through its suite of online investment services, including www.fdi.net and www.pri-center. FDI.net is a web portal that offers on-demand country analysis and information on foreign direct investment in 175 countries. The site is currently featuring investment opportunities in the MENA region, ranging from privatization to public-private partnerships, as well as pertinent information on country business environments and regulatory frameworks. Investors can also receive periodic customized email alerts on MENA opportunities, as well as a monthly e-newsletter, by registering on the site. The PRI-Center, which is geared to the political risk insurance industry, as well as investors, is currently showcasing a MENA feature story that examines the Islamic attributes of investment coverage. The site also provides political risk environment profiles for individual MENA countries, news, as well as a database of information resources of interest to all investors.

 

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