A robust-choice sensitivity analysis is performed with the data.
While investment in oil and gas remains robust, FDI has increasingly come in new areas in the manufacturing and services sectors, including apparel making and various activities related to information technology.
For example, in such countries as Egypt and Jordan foreign investment in food processing has outpaced investment in basic farming, and both Egypt and Jordan have attracted investments in higher-value, export-focused textile and apparel manufacturing.
In Egypt, which has been among the top three regional destinations for FDI sinceroughly half of all FDI is in the manufacturing sector. Information Technology As noted in chapter three, which focuses in depth on the IT sector, while small overall compared to Asia, North America, and Europe, the Middle Eastern market has posted strong rates of growth in various indices related to the IT sector, including general demand for goods and services, internet usage, and telecommunications demand.
Based on an analysis of industry leaders for prepackaged software and programming see Annexes A. Two critical considerations for the IT sector at present are the global slowdown in demand for most products and services and managing an existing oversupply of products. Investment in IT has decreased significantly over the past year, and the sector has yet to recover.
Many of the investors interviewed noted that at present few major overseas investments were planned until economic circumstances changed. Promoting inward FDI in the IT sector in West Bank and Gaza will remain challenging in the current political climate, and none of the investors contacted had any interest in considering new investments in the WBG at this time.
While the cost and quality of local labor, English language ability, and proximity to universities and research centers offer the WBG an advantage over regional competitors, other factors make the WBG less attractive. Apparel Manufacturing As summarized more thoroughly in Chapter 4, FDI in the apparel-manufacturing sector in the Middle East continues to grow, especially among countries that have preferential access to the lucrative U.
Although more water intensive than the WBG can support under present conditions, the related textile industry - including both natural and synthetic fibers - is also a major regional industry and recipient of FDI. Preferential market access for apparel is a major advantage for the WBG when peace returns and businesses can freely import, export, and ensure that workers can reach their jobs.
In the interim, PIPA can lead the way in shepherding improvements to the general investment climate that would make the WBG a more attractive environment than it is at present for the apparel sector.
Given the success of Egypt and Jordan — both lower-wage countries — in attracting FDI in the apparel and textile sector, WBG will face strong regional competition. While it may be able to highlight wage advantages compared to Israel and Turkey, the prevailing wage rates of the Palestinian workforce is less attractive than in neighboring states.
The lack of a significant supply of raw materials will limit the number and type of firms that will view the WBG positively for FDI. Increasing the supply of water for commercial use and allowing for independent private power providers to operate in the WBG may also increase the supply and lower the cost of these critical utilities, greatly improving the overall investment environment.
A resumption in peace and economic cooperation with Israeli officials would improve the ability of firms in the WBG to trade. Particularly for some highervalue apparel products, timely delivery is a critical consideration and as such the threat of trade disruptions may deter investment in the West Bank and Gaza.
Stone and Marble As for any commodity, demand and market price are critical considerations affecting new investment in production in the stone and marble sector. The high domestic demand and potential for increased exports for Palestinian stone presents a good opportunity for investment in the stone cutting and finishing sector within WBG once peace returns to the region and unfettered import and export activity can resume.
There are ample raw materials, and the distance between quarries and potential cutting and finishing workshops is minimal, likely nullifying the negative impact of the poor quality of the road network in some parts of the WBG.
The skill and experience of the local labor force and, to a lesser extent, the prevailing wage rates and cost of sea transport, are advantages for the sector. Moreover, while the current conflict will continue to limit new construction within the West bank and Gaza, the area will most likely experience a significant demand for new residential and commercial building once the conflict ends.
The relatively high cost of land and problems related to the supply and cost of power and water are also deterrents to FDI in the sector.
Demand in the construction sector, which is presently assessing the near-term impact is on business resulting from sharp declines in regional tourism, is a forward-looking indicator of demand in the stone and marble sector.
At present, available data suggests that regional construction activity will remain robust for the foreseeable future. Moreover, global demand for stone and marble has continued to rise in recent years.
Oil and natural gas continue to dominate economic activity in the Middle East as a whole, especially among the Gulf States, and FDI in the form of oil exploration, drilling, refining, and similar processes is a dominant force behind regional inward flows of investment capital.
Indeed, the oil sector has seen the earliest and some of the largest foreign investments in the Middle East. Over the s oil prices have seen significant fluctuations that have impacted the overall economy. When prices have been low, the Middle East region has seen declines in consumer and government spending, depressing demand and intensifying attempts to diversify.
Additionally, the oil-related petrochemical industry has seen steady and increasingly large investments, often large joint ventures with foreign partners, in response to increased liberalization and competitive advantages related to the price of feedstock in the region.
Over the last decade, the manufacturing cluster was the most active recipient of foreign investment in the Middle East in terms of the number of firms. With one in three manufacturing workers employed in apparel and textiles in the MENA region, this sector remains the most significant in terms of job creation among manufacturing industries.
Food and beverage processing continues to be a leading manufacturing sector attracting local and foreign investment. Present estimates suggest that there are almost 35, food manufacturing establishments employing someworkers in the Arab world.The Crest Restaurant coffee minds decide what we may be Int Paper 33'4' 33% highlighted by a 15minute about to do, and take preventive Beneficial } 48% Int Tel & Tel\6l/:\ 56 Scott Paper .
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Regional Foreign Direct Investment Review estimated % in through 50 The overall IT market in Arab countries was calculated to have reached US $ billion in , and is estimated to amount to more than US $5 billion by the end of S ee a doctor if you experience extr eme pain, sw elling, nausea, or any other severe reaction.
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