| Private investment averaged 14 percent of GDP in the five-year period 1998-2002. Foreign direct investment averaged 0.9 percent of GDP during the same period, the second lowest of the developing regions.
Selected investment climate indicators
An annex to the World Development Report 2005 contains indicators from the World Bank’s Investment Climate Surveys and the Doing Business Database, with explanations of how the indicators were constructed. Findings for the region include:
Investment Climate Surveys
Doing Business Database
Investment Climate Surveys
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The Investment Climate Surveys in Morocco (2001) and Algeria (2003) cover over 1400 registered firms.
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Clearing customs has been improved in Morocco; the average time to clear imports through customs is 2.7 days.
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Corruption is a major constraint in Algeria, with 75 percent of firms reporting bribes are paid.
Doing Business
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Registering a business takes 64 days in Saudi Arabia, 46 in Lebanon, 14 in Tunisia, and 11 in Morocco.
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Registering property takes 75 days in Kuwait, 16 in Oman, and 4 in Saudi Arabia.
The Report shows that the returns to investment climate improvements can dwarf the impact of international aid flows. The manufacturing value added in Egypt alone is equal to one third of global official aid flows.
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