After the signing of the Islamic Bank for Development General Secretariat of Endowments of Sharjah credit contract, Chairman of the Economic Department & Sharjah Free Zones Sheikh Tariq Bin Faisal Al-Qassimi, made mention of alternatives that Gulf Cooperation Council (GGC) economies can choose from in light of the current global challenges.
He put an emphasis on the defensive investment strategy which aims at maintaining the volume of foreign investments in GCC countries. “According to analyses and studies showing international investment flow trends and, we recognize that investment often leaves regions immersed in crises and complications to safer regions under internationally known risk standards” Al-Qassimi said.
“GCC economic departments have outlined many tactical points that can be applied under the Defensive Investment Strategy, which can aid in reducing or preventing foreign investments from leaving the region if the Iraqi crisis reaches its apex. One of these options is the possibility of referring to the classification of international assessment organizations, which, during the past few months, raised the core credit grades of Bahrain, Qatar and Kuwait. This will help to promote the foreign investor's trust in GCC countries' economies and their relevant structures and capabilities to contain any consequences of the crisis,” he added. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
