The UAE is poised to hit a record $30 billion in foreign direct investments (FDI) inflows this year, a top official said during the Annual Investment Meeting (AIM) Congress 2024 in Abu Dhabi.
Jamal Al Jarwan, secretary general of the UAE International Investors Council, noted that despite geopolitical tensions, the Emirates will continue to attract foreign investment by offering a stable economy and investor-friendly rules and regulations.
As per UNCTAD, the UAE recorded the second-highest increase in the number of new foreign investment projects last year. According to the World Investment Report 2023, the UAE recorded an FDI inflow of $22.7 billion in 2022.
Through its successful diversification efforts, the UAE has made significant progress in reducing its reliance on oil and gas. Currently, the non-oil sector makes up more than 70 per cent of the UAE’s GDP.
“The UAE is a role model, a catalyst, that has really proven over the years to become a dynamic business hub. And investors saw that.”
Al Jarwan underlined that the UAE’s GDP will continue to grow in 2024.
“I believe our economy in spite of the geopolitical tension, we are still handling traffic of foreign trade of the globe, more than 20 per cent of goods that pass our land, ports or air. So we are in a good situation.”
No comments:
Post a Comment