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Foreign direct investment (FDI) directed towards Med countries has been on a downward trend since 2007. In 2008, the 13 countries from the Southern and Eastern Mediterranean monitored by ANIMA started to be hit by the global financial and economic crisis: they received a little less than EUR 40 billion in announced FDI over 2008 (-35%). The total number of detected projects (778) only dropped by 6%. Many of these projects however are either scaled down or cancelled. After few years of skyrocketing Gulf investments, European companies have become once again the largest investors in the region.
There remain, however, good reasons for hope. For a sizeable number of companies still, European or not, the Mediterranean appears as a solution, a possible recourse in terms of market, cost control or partnerships. In Ancient Greek, the word κρίσις, or crisis, means the ‘time for decision’. This is the great industrial challenge of the Euro-Mediterranean region: finding, in those troubled times, an original mode of economic cooperation which will benefit the two shores of the Mediterranean over the long run.
Authors : Samir Abdelkrim, Pierre Henry, Bénédict de Saint Laurent / ANIMA (www.anima.coop)