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Monday, March 4, 2024

UAE Foreign Direct Investment (FDI) Sustains Positive Momentum

Sustains Positive In 2022, the UAE witnessed a historic surge in Foreign Direct Investment (FDI) inflow, reaching an unparalleled $22.73 billion, signifying a remarkable 10% increase from the previous year’s $20.66 billion.

Ministry of Investment Initiatives

Coordinated Streamlining

The substantial FDI growth has prompted the establishment of the Ministry of Investment, a strategic move to coordinate and streamline investment processes across emirates and free zones. This ministry is set to play a pivotal role in shaping the country’s investment vision and enhancing its global competitiveness.

Leadership and Goals

Appointment of Investment Minister

Mohammed Hassan Al Suwaidi has been appointed as the investment minister, overseeing the ministry’s initiatives. The long-term goal involves attracting $150 billion in FDI inflows by 2031, aiming to position the UAE among the top 10 countries globally in terms of FDI.

UAE’s Distinct FDI Standing

Highlight in the GCC

While the overall FDI flow into the GCC region experienced a decline of 17.91% to $37.12 billion in 2022, the UAE stood out by attracting a significant 61.24% of the total FDI inflow. The country’s consistent growth in FDI inflows over the past five years has led to the establishment of the new Ministry of Investment.

Emireum Business Passport

Facilitating New Investors

Emireum Business Services introduces the Emireum Business Passport, offering a cost-effective solution for new businesses to access critical services. This initiative aligns with the UAE’s vision of supporting investors, creating jobs, and propelling economic growth.

Regional Comparisons: Sustains Positive

Dubai and Saudi Arabia

Dubai attracted an estimated $12.8 billion in foreign direct investment capital in 2022, while Saudi Arabia recorded about 30 billion riyals ($8 billion) in foreign direct investment. These figures underscore the robust economic activities in the region.

Holistic Business Support

Comprehensive Service Proposition

The Emireum Business Passport provides a unique start-up and loyalty package, furnishing new investors with up to Dh10,000 in service credits. This comprehensive offering covers essential services and aligns with the UAE Government’s vision of supporting businesses for holistic growth.

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