GLOBAL MEETS LOCAL 2023

International Giants Are Attracting FDI And Stimulating Economic Growth.

International companies have been playing a pivotal role in driving economic growth and development in MENA for decades. Their presence fosters healthy competition, driving local companies to innovate and improve their offerings to remain competitive, spurring economic diversification. They also contribute to transferring knowledge, expertise, and technology into the region and to local partners, making it more attractive for further investments.

Most importantly, those companies bring foreign direct investment (FDI) into the region, injecting much-needed capital for infrastructure development, technology transfer, and job creation, stimulating economic activity and modernizing industries, and improving production capabilities. In 2022, FDI reached a total of $51.8 billion in 15 Arab countries, according to the UNCTAD. The U.A.E., Egypt, and Saudi Arabia attracted a total of $22.74 billion, $11.4 billion, and $7.89 billion, respectively.

In an era of increasing globalization, our eleventh annual Global Meets Local ranking explores how multinational corporations are effectively navigating the unique business landscapes of the region while simultaneously contributing to its economic growth, development, and cultural integration.