UAE named the top destination for FDI in MENA

  • August 28, 2018

UAE named the top destination for FDI in MENA

Between 2003 and 2016 the UAE attracted 4,492 foreign investment projects that indicate the competitiveness of the UAE economy on every level. In the context of the Annual Investment Meeting (AIM), UAE’s status as a top destination for foreign direct investment (FDI) was put in the spotlight.

Sultan bin Saeed Al Mansouri, UAE Minister of Economy, recently reaffirmed UAE’s strong interest in continuing to attract new FDI of the highest quality. The Minister also pointed out that quality investment adds value to the national economy while advancing the development objectives.

The UAE tops all the other countries of the Arab world in attracting FDI since in 2016 it accounted for 29% of the total FDI inflow.

The AIM was another chance to address obstacles to accelerate FDI inflow. The Emirates strive to always adopt the best policies and optimize the business environment they provide while keeping up with the financial trends. FDI plays a crucial role in the prosperity of the UAE with the minister stressing out its contribution to the national economic efficiency.

According to The Institute of International Finance (IIF), the UAE remained the main destination of FDI inflows at about $11 billion in 2017, accounting for 22% of total foreign direct investment to the MENA region. IIF identifies the UAE’s friendly business environment, excellent infrastructure, growing economy, and political stability as the factors that position the UAE at the top of the FDI.

“Economic performance is likely to improve in 2018 with firming oil prices, an improvement in global trade, and the expected easing pace of fiscal adjustment,” said chief economist at the Washington-based IIF, Gabis Iradian.

A joint report by the Institute of Chartered Accountants in England and Wales and Oxford Economics forecast that after outpacing the rest of the GCC in economic growth in 2017, the UAE is set to almost double its expansion rate in 2018. According to the report, the UAE will experience accelerated growth of 3.6% in 2018 from 1.7% in 2017. In addition, UAE’s momentum will further gain pace in 2019, when it is expected to exceed 3.6%.

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