UAE: Leading Global Destination for Investment and Sustainable Growth

UAE, 25 June, 2024 : The UAE has cemented its status as a premier global destination for investment, capturing 45.4% of the total foreign direct investments (FDIs) in the Arab region, amounting to AED248.3 billion in 2023. This represents a 35% increase in FDI inflows to AED112.6 billion, as highlighted by the World Investment Report 2024 by UN Trade and Development (UNCTAD).

The UAE's appeal to investors is bolstered by its flexible policies, competitive environment, and advanced investment legislation. Key amendments to the Commercial Companies Law, which now allow foreign investors to fully own companies, have facilitated the establishment of over 275,000 new companies within 18 months, bringing the total to over 788,000 by the end of 2023.

The nation continues to work towards the ‘We the UAE 2031’ vision, aiming to double its GDP to AED3 trillion and boost foreign trade to AED4 trillion. Collaborative efforts across government and private sectors are crucial to these ambitious goals.

Notably, the UAE ranked second globally, just behind the United States, in greenfield FDI project announcements in 2023, with 1,323 new projects—a 33% increase from the previous year. This underscores the UAE’s commitment to fostering sustainable growth and attracting pioneering startups.

Source : www.wam.ae