LOC22:34
19:34 GMT
CAIRO, Oct 21 (KUNA) -- A senior Arab economist underlined here Tuesday that Arab investment development issues would be discussed during an economic summit in Kuwait early 2009.
The Council of Arab Economic Unity (CAEU) has worked out a draft program for boosting and developing Arab investments, and a draft law for Arab joint ventures set up under the umbrella of the Arab League and the CAEU, Ahmed Guwaili, chairman of the council, told reporters.
He pointed to another project for creating an Arab foundation for financing the private sector's projects and establishing a holding Arab company for investment development and services.
He urged more efforts to raise pan-Arab investment rates, noting that overseas Arab investments hit roughly USD one trillion.
Obstacles impeding investment in the Arab region should be overcome with a view to providing a congenial atmosphere for drawing Arab and foreign investment to the region, he requested. (end) bna.mt KUNA 212234 Oct 08NNNN