UAE attracted 40% of FDI in Arab region last year
The United Arab Emirates (UAE) attracted approximately 40 per cent of Foreign Direct Investment (FDI) in the Arab World last year.
According to Ahmed Al Saleh, the undersecretary for foreign affairs at the Ministry of Economy, the UAE remains ahead of the rest of the region when it comes to FDI inflows.
“The UAE was recipient of 40 percent of FDI inflows into Arab and Western Asian countries and 23.3 percent of FDIs directed to the Middle East and North Africa in 2017, getting $130 billion worth of cumulative FDI inflows, 8.7 percent up from 2016,” he added.
Al Saleh further stated that Emirati FDI outflows to various countries totalled $14 billion in the year 2017, a 7.7 per cent increase from 2016, accounting for 43.6 percent of total FDI outflows the same year.
“The figures place the UAE ahead of the rest of the Arab region and 21st globally, up two positions from 2016. Cumulative FDI outflows by the end of 2017 stood at $124.4 billion, up 12.6 per cent from 2016,” he noted.
“Such a significant investment status is attributed to the efficient economic and investment policies that have been developed based on the in-depth vision of our wise leadership as part of the UAE Vision 2021 and the UAE Centennial 2071,” Al Saleh pointed.
“Despite the global economic slowdown recorded in 2017, which saw a 23 per cent decline in investment flows around the globe, the FDI inflows to the UAE grew 7.8 per cent to a total of $10.4 billion,” he concluded.