The UAE attracted approximately 40 percent of foreign direct investment in the Arab World in 2017, according to a top official at the Ministry of Economy.
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 said.
Al Saleh added that Emirati FDI outflows to various countries totalled $14 billion in 2017, a 7.7 percent 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 percent from 2016.
“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,” he said.
“Despite the global economic slowdown recorded in 2017, which saw a 23 percent decline in investment flows around the globe, the FDI inflows to the UAE grew 7.8 percent to a total of $10.4 billion," he added.For all the latest business 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.
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