UAE received the fourth most new project funding last year.
The United Nations Trade and Development Organization (UNCTAD) reported in its World Investment Report 2023 that the UAE received a record amount of foreign direct investment in 2017: AED84 billion ($23 billion).
It is evidence of a developing and diverse economy and represents the largest infusion of foreign investment in the nation’s history.
The findings were published on social media by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai. He also stated that there would be more information forthcoming.
UAE Foreign Direct Investment
The movement of foreign investments decreased by 12% globally, although the United Arab Emirates reached record levels.
The nation ranked fourth in the world with 997 investments in new products, just behind:
The number of new projects in the United Arab Emirates increased by 80% over the previous year. Sheikh Mohammed declared on social media that “the UAE has taken the lead in global investments coming to the region.
“We are grateful to all the regulatory, legislative, and service organizations that work to make the UAE the best investment environment in the world.
“The future is brighter and more lovely, and this year will also see the achievements of new historical figures.”
UAE Leads with 57% of the $200 Billion in Foreign Investment Made in Arab Nations
Last year, foreign funding supported more than 1,600 initiatives in Arab nations.
According to the organization, in 2022, 1,617 more foreign direct investment (FDI) projects totaling $74% more will enter Arab countries, with an increase in investment costs of 358 percent, or $200 billion.
The UAE placed first among recipient countries, according to the report’s data, with about 923 projects.
Foreign Direct Investment in Arab World
With a share of 60%, renewable energy dominated all industries in terms of investment costs, while the software industry took the top spot in terms of projects, with a share of 23.4%.
The 38th Annual Investment Climate Report for Arab Countries in 2023, which was organized by DHAMAN from its offices in Kuwait, shows that the majority of these FDI projects are located in Egypt, where 53% of the total investment cost was incurred, and the UAE, where 57% was incurred.
According to the analysis, these initiatives in the area have a combined worth of $1.5 trillion over the previous 20 years, consisting of more than 16,000 projects that have supported more than two million jobs.
The Director-General of DHAMAN Abdullah Ahmed Al Sabah made the following remarks in the report’s introduction: The corporation monitored 155 composite and subsidiary indicators released by more than 30 international organizations, which revealed changes to the global rankings of Arab countries across four main indicator groups that are important to the region’s investment climate in 2022, namely:
According to him, various FDI projects entering the region and their investment costs have benefited from the general changes to the international metrics for Arab nations.