The United Arab Emirates experienced a 35% increase in foreign direct investment (FDI) flows last year, totaling approximately Dh112 billion, despite the global FDI decline in 2023.
In terms of new foreign direct investment projects, the UAE came in second place globally in 2023, behind the United States, and first in the Middle East, West Asia, and the Arab world for both inbound and outbound investments. In terms of foreign investments overall, the nation is currently ranked 11th in the world, meeting the government’s 2030 target.
This was highlighted in a post on X on Friday by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE, and Ruler of Dubai. He reacted on the World Investment Report 2024 issued by United Nations Conference on Trade and Development (UNCTAD) on Thursday.
Global foreign direct investment (FDI) decreased by 2% to $1.3 trillion in 2023 “amidst (global) economic slowdown and rising geopolitical tensions,” according to a UNCTAD report that examines more than 200 economies worldwide. According to the report, “when excluding a few European conduit economies that registered large swings in investment flows,” the decline would have been 10%. Tight financing conditions caused a 26% decline in international project finance deals, while FDI flows to developing nations fell 7% to $867 billion.
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