Prime Minister Dr. Ahmed Nazeef has announced that the FDIs have jumped from 2.1 billion dollars in 2003/2004 to 6.1 billion dollars in 2005/2006 and has reached 3.237 billion dollars in the first qua...

Prime Minister Dr. Ahmed Nazeef has announced that the FDIs have jumped from 2.1 billion dollars in 2003/2004 to 6.1 billion dollars in 2005/2006 and has reached 3.237 billion dollars in the first quarter of the fiscal year 2006/2007.  The figures point to an increase to 8 billion dollars in FDIs in the start of the new year.  Nazeef added in his address to the People’s Assembly that the new companies have reached 3825 with a capital of 12.4 billion pounds and expansions that have reached 1002 companies with a total capital of 33.9 billion pounds.  138 new companies are being set in free zone areas with a capital of 560 million dollars. The management of state portfolios has offered three times as much as last year to reach 12.4 billion in state assets.  Ministry of Finance shares finance expenditures and develop state institutions. State deficits have retreated and foreign reserves have reached 25 billion dollars and trade deficit has retreated by 300 million dollars in the first quarter of the current fiscal year. (source: Al-Aalam El youm)