22 C
Dubai
Thursday, April 18, 2024
spot_img

Emirates News Agency – Ahmed Zabi hails UAE’s role as global investment leader

[ad_1]

ABU DHABI, 5th July, 2023 (WAM) — Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, ADDED, said that foreign direct investment in the UAE has Growth, foreign direct investment in the country has experienced a rise of up to 10%, soaring to an impressive $23 billion.

This growth is underpinned by our stable political environment and thriving economic environment, he added.

A year ago, Al Zaabi noted, the UAE jumped from 22nd in terms of FDI inflows to 16th.

Speaking at the launch of UNCTAD’s annual World Investment Report in Abu Dhabi today, Al Dhabi said: “The UAE is now proud to be the world’s fourth-largest recipient of greenfield projects, announcing nearly a thousand ambitious ventures, an increase of 84%. %.” 2023, entitled “Investing in Sustainable Energy for All”.

UNCTAD’s annual World Investment Report monitors global and regional foreign direct investment (FDI) trends and presents key national and international investment policy developments.

“As our doors are open to global investors, the UAE is also one of the largest and most active investors in the world. In 2022, FDI outflows from the UAE will also increase by 10% to $25 billion. In 2021, our country The rise from 20th to 15th place reaffirms the UAE’s role as a global leader in investments that help other countries grow, provide jobs for millions and shape a brighter future for humanity.”

He added that Abu Dhabi contributes significantly to the UAE’s GDP and FDI flows, accounting for 60 percent of the country’s GDP. Today’s figures tell its diversification success story, with Abu Dhabi’s GDP growing by 3.9% in the first quarter of 2023 compared to the first quarter of 2022. Meanwhile, Abu Dhabi’s non-oil GDP grew by 6% in the first quarter of 2023, accounting for 53% of the total GDP. This outstanding growth was supported by strong performances in key economic sectors.

Today, Abu Dhabi is a dominant force in the economy and has witnessed the rise of the falcon economy, known for its pioneering vision, sound regulatory framework and advanced business ecosystem that can cultivate talents and attract like-minded investors from all over the world.

“In recognition of our strong commitment to progress and innovation, the Financial Times’ FDI intelligence unit named Abu Dhabi the 12th global city of the future in 2022.”

Additionally, he said Kearney’s Global Cities Outlook Index ranks us 9th, reinforcing our position as a global leader.

Abu Dhabi is home to the world’s three largest sovereign wealth funds. It is also quickly becoming a destination of choice for international residents due to its multicultural community.

Abu Dhabi Investment Office (ADIO) attracts international companies to Abu Dhabi through its offices in Paris, Beijing, Frankfurt, San Francisco, New York, Tel Aviv, London and Seoul. Amazon and AWS are two recent additions to the Abu Dhabi business community.

“We have launched several initiatives to target investors and attract investment to Abu Dhabi. A year ago we launched the Abu Dhabi Industrial Strategy and now we are ready to announce its achievements as we billion dirhams, a major milestone achieved by doubling the size of Abu Dhabi’s manufacturing sector to AED172 billion by 2031 by improving access to finance. Making it easier to do business and attract foreign investment. “

He announced that Abu Dhabi will host the 2023 World Investment Forum in October, ahead of COP28, where world leaders will gather to discuss climate finance, investment and explore potential partnerships.

[ad_2]

Source link

Related Articles

DXB Issues Advisory Amid Impending Unstable Weather

DXB Issues Advisory Amid Unforeseen Weather As UAE residents gear up to face the anticipated onslaught of unstable weather conditions sweeping across the country, travelers...

UAE Streets, Parks, and Malls Buzzing with Eid Al Fitr Festivities, Glorious Gathering

UAE Streets, Parks, and Malls Overflowing with Festive Spirit Amidst the joyous occasion of Eid Al Fitr, the streets, parks, and malls of the United...

UAE Gold Prices Reach New All-Time High, Surging by Dh4.50 per Gram

UAE are advised to stay informed and exercise caution when navigating the gold market, keeping in mind the potential risks and rewards associated with...

Abu Dhabi BAPS Hindu Mandir, Enhancing Visitor Experience Efficient Pre-Registration

Abu Dhabi BAPS Hindu Mandir Unveils Streamlined Pre-Registration System In a significant move aimed at enhancing visitor experience and ensuring a smooth flow of devotees,...

Eid Al Fitr 2024: Heartfelt Blessings from Dubai Ruler and Sheikh Hamdan Spread Joy Across the UAE

Eid Al Fitr 2024: Dubai Ruler, Sheikh Hamdan, and Maktoum Extend Heartfelt Wishes to the UAE Community The sighting of the Shawwal crescent on Tuesday...

Latest Articles