The UAE has been ranked 27th globally in terms of attracting foreign direct investment (FDI), up three positions from 2017, according to the United Nations Conference on Trade and Development's (UNCTAD) World Investment Report 2019.
It said the UAE attracted $10.4 billion FDI in 2018, ranking first in the Arab world and accounting for 36 percent of the total of FDI flows to the Arab countries.
The UAE ranked as the second in West Asia, accounting for around 33.4 percent of total FDI inflows to this region.
The United States, China, Hong Kong, Singapore and the Netherlands were the top ranked countries globally.
Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said that the UAE’s progress in the rankings confirms the global investor confidence in the quality and efficiency of the country’s business environment, and its leading position as a regional destination for investments.
Al Mansoori added that the country enjoys an open economic environment and a flexible business environment, supported by a strong infrastructure and a legislative structure that has the potential to be developed further.
The report also showed that the UAE has attracted 22 percent of the total FDI to the MENA region last year.
Al Mansoori said that the UAE has secured an advanced position in terms of outward FDI as well, with its investments abroad adding value to both regional and global markets, and in various vital economic sectors.
According to the report, total FDI outflows from the UAE to the world reached $15 billion in 2018, up by 7.2 percent, to rank 19th globally.
In addition, the report ranked the UAE second in the world with regard to the signing of bilateral investment agreements through six bilateral investment agreements out of 40 international investment agreements signed in 2018.
In terms of green investment projects, the UAE was third after the United States and France, with investments totalling $179 million.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.