Thani Al Zeyoudi: Foreign investment in UAE to grow by 10% in 2022

ABU DHABI, 5th July, 2023 (WAM) — Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has said that the annual report issued by the United Nations Conference on Trade and Development, UNCTAD, has important insights into global and regional investment trends, as well as national and international investment trends. Policy evolution.

He then noted that the report provided insights into more than 200 economies around the world, positioning UNCTAD as the most important source of authoritative and inclusive data on international investment flows.

He delivered his inaugural address today at the UNCTAD World Investment Report 2023 press conference in Abu Dhabi. The event was attended by Ahmed Jassim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, as well as many leading investment and media officials.

“This year’s report brings good news for the UAE. We will attract more foreign direct investment (FDI) in 2022 than at any point in our history,” he stressed, noting that he is happy to share the fact that the country will Attracted FDI worth $23 billion in 2021, a 10% increase over 2021 and the highest annual amount on record.

He added that the UAE recorded a record FDI ranking at 16th in the world, up six places from 2021, noting that the UAE ranks fourth globally in terms of foreign investment in new projects, after the US, UK and India .

“The 997 new investment projects we have announced in 2022 represent an annual growth rate of 80% compared to the previous year,” said Al Zeyoudi, affirming that the country remains a major destination for FDI from Gulf Cooperation Council (GCC) countries , will attract 61% of the region’s total international investment inflows by 2022.

He further added that the world can trust the UAE’s economy, institutions, policy and legislative environment as they are committed to sustainable growth, as evidenced by the record-breaking figures in this year’s report.

“The UAE is a shining example of economic resilience and prosperity, attracting companies, investors and entrepreneurs from around the world. As we progress further, we seek new investment opportunities and new economic sectors that can be established and expanded,” Arzeyudi said.

He added that in 2022, the UAE’s outbound investment flows will increase by 10 percent to reach US$25 billion, making the UAE the 15th largest investor in the world and a key supporter and facilitator of equitable and inclusive growth globally.

“By hosting COP28 in the Year of Sustainable Development, the UAE will demonstrate its commitment to investing in clean energy projects around the world. The country has allocated US$50 billion to renewable energy programs in 70 countries across all continents,” he said.

Richard Bolwijn, head of investment research at the Investment and Enterprise Division of UNCTAD, shared the international investment trends in 2023. He said that FDI in developing countries will increase slightly, capital flows will increase by 4%, and projects will increase by 7% in 2022. He also pointed out that some large emerging economies mainly drove the growth.

The drop in investment in developing countries is due to a variety of reasons, such as challenges in attracting capital and loss of existing funding, Borwijn said, noting that all countries are committed to reducing carbon emissions, pursuing green energy initiatives and lowering debt financing Reduce spending by working with the public and private sectors and working with banks.