World Economy

MENA Investments Rise 118%

MENA Investments Rise 118%MENA Investments Rise 118%

The value of private equity investments in the Middle East and North Africa region surged 118% to reach Dhs 1.5 billion ($0.41 billion) in 2014, the highest level recorded since 2008.According to a report released by the non-profit MENA Private Equity Association, the investment activity in the region grew significantly last year as economic conditions rebounded, Gulf Business reported. The report also noted that the year 2014 saw the highest levels of investment values and fund raisings since 2008. Total number of funds raised in 2014 reached $1.2 billion last year compared to $744 million in 2013. Sectors such as oil and gas, education, services and food and beverage were the most attractive areas for investment last year, the report noted.