38 C
Friday, September 22, 2023

UAE to attract record $23 billion FDI inflows in 2022; up 10%


In 2022, the UAE will attract US$23 billion in foreign direct investment (FDI), an increase of 10% over 2021, the highest figure ever recorded in the country in a single year, and it ranks 16th globally in attracting FDI, up from 2021 6 digits. 2021.

The announcement was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

His Highness Sheikh Mohammed bin Rashid Al Maktoum said: “According to UNCTAD, the UAE achieved an all-time high in 2022 despite a 12 percent decline in global FDI flows. Foreign direct investment (FDI) inflows, reaching AED84 billion (US$23 billion). The annual World Investment Report 2023. The report ranks the UAE as the number one region and fourth globally for attracting FDI inflows The recipient countries of large greenfield investment projects have a total of 997 projects, second only to the United States, the United Kingdom and India, an increase of 80% compared with the previous year.”

“We express our gratitude to all the regulatory, legislative and service entities that have contributed to strengthening the UAE’s position as one of the best international investment centers. We aim for more historic milestones in the coming year,” he added.

The World Investment Report 2023 is published by the United Nations Conference on Trade and Development (UNCTAD) to monitor global and regional investment trends and national and international investment policy developments. With 40 years of detailed information on more than 200 economies, UNCTAD is considered the most authoritative source of data on investment flows and multinational corporations.

The 2022 results underscore the UAE’s growing attractiveness to global investors in the post-pandemic economy, particularly for greenfield investments. In 2022, the UAE is the fourth largest recipient of greenfield projects in the world, with 997 projects announced, after the US, UK and India, an 80% increase from 2021. The UAE remains a major destination for global FDI. The Gulf Cooperation Council, attracting 61% of all foreign direct investment in the region by 2022.

The UAE is not only a destination for capital, but also a source of capital. FDI outflows also rose by 10% to $25 billion in 2022, lifting the country from 20th in 2021 to 15th globally.

This achievement is another important milestone in our long-term economic diversification goals. The UAE is committed to building a vibrant, flexible and resilient business ecosystem that welcomes capital of all kinds – financial, technological and human. In addition to a clear value proposition based on global connectivity, strategic location, light regulation and a highly qualified workforce, the UAE is currently creating new investment avenues to support emerging industries such as fintech, agtech, healthcare, e-commerce and advanced manufacturing.

These results underscore the UAE’s growing status as a global business hub and a compelling platform for ambitious investors, business leaders and entrepreneurs to expand into high-growth regions in the Middle East, Asia and Africa . They also point the way to an exciting future: a country that continues to look outward and build bridges of opportunity with the rest of the world.

UNCTAD will host the 8th World Investment Forum in Abu Dhabi, UAE from 16-20 October 2023, under the theme “Investing in Sustainable Development”. The forum will bring together government leaders, global CEOs and other investment stakeholders to address key economic challenges in developing countries such as food security, energy, health, supply chain resilience, infrastructure and capacity growth. – trade arab news agency


Source link

Related Articles

Former UK PM David Cameron at Port City Colombo UAE Roadshow

Port City Colombo to hold UAE Roadshow for global investors. Former UK PM David Cameron will discuss ties between the UAE, Indo-Pacific, and Sri...

“Game of Thrones” creator and authors sue OpenAI for copyright violation

John Grisham, Jodi Picoult, and George R.R. Martin, along with 14 other authors, are suing OpenAI for what they claim is "systematic theft on...

Watch: Dubai real estate agents queue for Palm Jebel Ali villa sales

Dubai's newest waterfront project, Palm Jebel Ali, has caused a significant stir. Hundreds of real estate agents and potential buyers formed long lines outside...

Indian rupee nears historic lows, faces more pressure.

The Indian rupee, near a record low, faces ongoing pressure due to factors like crude oil prices and the US Federal Reserve's policy decision....

Emirates Gold acquired by Rockfire Resources plc

Emirates Gold DMCC, a leading UAE precious metals refining company, has announced its acquisition by Rockfire Resources plc. This acquisition encompasses all aspects of...

Latest Articles