UAE Takes Second Spot Globally in New FDI Projects: UN Report

UAE Takes Second Spot Globally in New FDI Projects: UN Report

By Staff Writer, 24 June 2024

The United Arab Emirates (UAE) has been ranked second worldwide, just behind the United States, in the number of new foreign direct investment (FDI) projects recorded last year, according to a report by the UN Trade and Development (UNCTAD).

The UNCTAD report, which examines FDI trends across 200 economies, highlights the UAE's strong performance despite a global downturn in FDI flows.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, noted a significant 35 percent increase in FDI inflows to the UAE last year, reaching approximately Dh112 billion. This achievement places the UAE 11th globally and aligns with the country's strategic objectives for 2030.

Furthermore, the UAE leads the Arab world, West Asia, and the Middle East in both inward and outward investments. The cumulative balance of inward FDI has reached Dh828 billion, while outgoing investments total Dh965 billion.

Sheikh Mohammed expressed confidence in the UAE's investment potential, stating, "Many around the world are choosing to invest in the UAE with their capital, skills, and resources. To those who place their trust in us, we pledge our support in return. We will continue to develop the finest investment environment globally,” he tweeted.

Source: Khitam Al Amir / Gulf News

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