ABSTRACT
The history of foreign capital investment in the Middle East falls into quite clearly defined periods. The first half of the 19th century saw the dissolution of the old trading companies, such as the Levant Company and the Compagnie d'Afrique. They were replaced by private traders, engaged in import and export, whose capital consisted mainly of inventories and warehouses. Some of these merchants also financed small processing plants for export crops, e.g., in cotton ginning and silk reeling.
