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The UAE is building a futuristic nation with a strong foundation and legacy of disruption, helping future generations tap endless opportunities. The country has rolled out new reforms and investor-friendly policies, forcing the global business community to pay attention to conditions in the desert.
The rise of the national convention and exhibition industry proves that people are connected in person with all safety measures intact. Between January 2022 and May 2022, Dubai received 6.17 million overnight visitors, with the largest number of international visitors coming from India at 707,000. The handling of Covid-19 has also contributed to the growing popularity, proving to the world that business will continue despite the odds. Introduce stimulus measures, business digitization and remote working to ensure business continuity.
“The UAE continues to be popular among family offices and high net worth individuals (HNWI). Our recently concluded investor summit in Monaco made it clear that in addition to other key destinations such as Monaco, Saudi Arabia and other fast-growing economic powerhouses , many investors see the UAE as one of the most coveted global gateways in the world. The most popular sectors include impact investing and the Web3 ecosystem, with a particular focus on startups. As global venture capitalists increasingly Seeking to partner with local players as a way to expand business growth, we see great opportunities in our region. The summit was held in Monaco with many players from the Middle East and around the world.
According to the “Global Venture Capital FDI Rankings 2022” report published by “fDi Intelligence” based on data collected from 2003-2021, Dubai ranks first in the MENA region and tenth in global venture capital FDI projects. Further data from the Magnitt-backed ‘Dubai FDI Monitor’ shows that 84 Dubai startups have successfully attracted venture capital (VC)-backed FDI worth AED 2.34 billion in 2021. Recently, the Dubai Investor Roundtable at Abraham Business Circle came to a successful conclusion with over 200 participants from multiple countries and different sectors. The event provides an overview of investment opportunities, new technologies, development partner alliances, and insights from guest speakers, keynote speakers, inventors, innovators and company owners.
Abraham Business Circle promotes economic diplomacy through investment. This global business networking platform provides its members with a global network of contacts to raise capital, buy and sell companies, find potential investments, joint ventures, distribution channels and new customers.
Rafael Nagel, founder and chairman of Abraham Business Circle, a prominent private equity investor and venture capitalist, said: “Our activities typically focus on economic diplomacy to foster private and public partnerships to advance the economic growth in the region.”
According to the Arab Investment Export Credit Guarantee Corporation (Dhaman), Arab countries have attracted 14,443 foreign projects over the past 19 years with a total capital expenditure of $1.3 trillion. The company said in its 37th annual report on the investment climate in Arab countries in 2022 that between 2003 and 2021, the number of foreign direct investment projects entering the region increased by 37%, and its capital expenditure increased by 1%. UAE Arab countries attracted 41% of foreign direct investment projects between 2003 and 2021.
The Kuwait-based company added that the projects have created around 2 million jobs. The region saw a 15% increase in the number of foreign projects in the first quarter of this year compared to the same period in 2021, and its capital expenditure rose 86% to $21 billion. Western Europe is a major investor in the region Saudi Arabia is the largest investment destination for capital expenditures ($9.3 billion) in 2021, while the UAE ranks first in terms of number of projects (455).
Said El Saadi, Director General of the Australia-Saudi Business Council, said: “The Middle East has gained enormous traction as both the UAE and Saudi work to diversify and adapt to new trends to build economies for future generations. I Witnessing a dramatic change in the way business is done using cutting edge modern technology, unlike in the past. A series of new reforms in the GCC show that serious business is meant for the region.”
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