H.E. Bin Touq: The report confirms that the UAE is steadily strengthening its position as an attractive & sustainable destination for FDI
DUBAI, UAE, August 07, 2022 /24-7PressRelease/ — The United Arab Emirates (UAE) has been ranked first in the Arab world and 19th globally for its ability to attract foreign direct investment (FDI) inflows by the World Investment Report 2022 issued by the United Nations Conference on Trade and Development (UNCTAD). The UAE also emerged 17th globally in terms of FDI outflows that totaled USD 22.5 billion in 2021, reflecting a 19% growth compared to the year 2020.
H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy, said: “The progress, as revealed by this report, is the latest addition to a series of achievements that were recently accomplished by the UAE, starting with its fast recovery from the pandemic’s impact, followed by the achievement of a 3.8 per cent GDP growth – the highest in the region. In addition, the UAE launched the ‘Projects of the 50’ and a number of comprehensive strategic initiatives with the potential to advance the county’s economic growth – both domestically and externally, in line with its vision for long-term, sustainable development.”
H.E. Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stated that the UAE’s investment environment is undergoing continuous development thanks to the support and directives of the wise leadership. He emphasized that the report reflects the growing global competitiveness of the UAE’s investment environment, which is made possible by the flexible legislation and laws introduced by the country in accordance with the Principles of the 50. The fundamental changes that were made to the country’s economic system have further strengthened the investment enablers in its markets.
The reports ranks the UAE number one in West Asia as it accounted for 37 per cent of the total investment inflows to the region, which totaled USD 55.5 billion. The country also leads at the MENA level, acquiring USD 66.6 billion or 31 per cent of the total foreign investment that came to the region.
As for outflows, the report notes that the total FDI outflows from the country amounted to more than USD 215 billion by the end of 2021, marking a 11.7 per cent growth compared to USD 192.5 billion in 2020.
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