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Arab investors flee the U.S.

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Published: Jan. 12, 2005 at 9:04 AM
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BEIRUT, Lebanon, Jan. 12 (UPI) -- Arab investors withdrew an estimated $1 trillion from the United States following the Sept. 11, 2001, attacks on New York and Washington, officials said.

"Arab investors have changed the destination of their investments from the United States to other parts of the world, especially Europe, Asia and the Middle East itself," said Nasser Baydoun, president of the Arab-American chamber of trade, in an interview with the Saudi daily al-Hayat, monitored in Beirut

He said Arab funds and investments in the United States dropped by 80 percent in the past few years in view of the fallout from Sept. 11 and mounting anti-Arab and anti-Muslim sentiments in America.

Topics: Al Hayat
© 2005 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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