Forbes Middle East revealed the strongest and most successful public companies in the Middle East for 2020.
The magazine confirmed in a statement yesterday that the classification was prepared by relying on in-depth research based on capital market data in the Arab countries for companies, analysis of market value, sales, assets and profits .
According to the classification, Saudi Arabia topped the list with 33 companies, followed by the UAE represented by 21 companies. He also showed that the Gulf Cooperation Council countries accounted for 90% of the list, so that Kuwait and Bahrain include seven companies in the list for each of them, while Oman recorded four companies.
As for the countries of North Africa, the list included five companies from Egypt, and four companies from Morocco, in which only one Jordanian company was included in the list, and no Lebanese companies appeared in the classification, as none of them disclosed their financial statements before April 23, 2020.
The banking and financial institutions sector also led the sectors represented in the list by 46 financial institutions, followed by the industrial sector with nine companies, while the real estate and communications sectors came in third place with eight companies each.
Forbes Al-Omman, Forbes Middle East editor-in-chief, said that while the market value of many of the companies listed in the region has declined, they still show great resilience, adaptation and continuity, in light of these difficult times.