The annual report of the Arab Petroleum Investments Corporation (APICORP) indicates that the economic growth in the Arab countries averaged 4.2% in 2010. However, sustaining a high rate of growth in the future will depend on the countries' ability to maintain political stability. The biggest challenge facing Arab societies is a high unemployment rate and a rapidly growing population.
Anticipating a rising demand for crude oil, Arab countries expect to invest about $430 billion between 2011 and 2015 to develop new sources of supply. Most investments will be made by five countries -Saudi Arabia, the UAE, Qatar, Algeria and Egypt. The Gulf countries will make two-thirds of the investments in energy projects. Saudi Arabia will be the largest investor with $130 billion followed by the UAE ($74 billion) and Qatar ($70 billion).
Source: almowatenews.com, March 7, 2011