UAE's $2.5 Trillion Foreign Investments

UAE, 20 March, 2024 : Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), reveals that the UAE's foreign direct investments (FDI) have soared to $2.5 trillion by the start of 2024, solidifying its global investment prowess. This robust financial standing reflects the UAE's strategic focus on emerging markets and forging key partnerships.

The UAE's proactive engagement in global economic affairs is evident through various strategic alliances and cross-border deals. Notably, the $35 billion investment pact with Egypt for the Ras Al Hekma development stands out as the largest direct investment in Egypt's history, reshaping regional economic dynamics.

Al Jarwan predicts UAE investments in Egypt to hit $65 billion post the Ras Al Hekma project completion, offering substantial benefits to both economies. Immediate impacts include strengthening the Egyptian pound and stabilizing supply chains, with potential positive effects on Egypt's credit rating and investor confidence.

Beyond economic cooperation, the UAE-Egypt partnership extends to strategic alignment and infrastructure development. The Ras Al Hekma project, a futuristic city spanning 170 million square meters, aims to stimulate economic growth, create jobs, and foster technical exchange, enhancing mutual prosperity.

Al Jarwan underscores the promising outlook for UAE investments in Egypt, stressing the importance of understanding Egypt's economic landscape for successful ventures. With approximately 2,000 Emirati companies operating in Egypt across diverse sectors, the UAE remains a significant investor in the region.

Looking ahead, Al Jarwan anticipates sustained interest in UAE investments from countries like India, Indonesia, ASEAN nations, Morocco, and select European countries. This interest stems from confidence in UAE leadership and its reputation for professional investment practices.

Source : www.khaleejtimes.com