Abu Dhabi — Mubasher: The UAE made up around 40% of foreign direct investment (FDI) in the Arab World in 2017, the undersecretary for foreign affairs at the Ministry of Economy said.
The UAE, one of the Middle East’s biggest economies, topped it peers in the region in terms of FDI inflows last year, Ahmed Al Saleh said.
“The UAE was recipient of 40% of FDI inflows into Arab and Western Asian countries and 23.3% of FDIs directed to the Middle East and North Africa in 2017,” he said.
In 2017 the GCC nation accounted for 40% of FDI inflows directed to Arab and Western Asian countries and 23.3% of FDI into the Middle East and North Africa (MENA) region, Al Saleh told Arabian Business.
The UAE got cumulative FDI inflows worth $130 billion last year, 8.7% up from a year earlier, he added.
Meanwhile, the UAE's FDI outflows to various nations upped 7.7% year-on-year to $14 billion in 2017, making up 43.6% of total FDI outflows the same year, the top official noted.
The UAE's cumulative FDI outflows hit $124.4 billion by the end of 2017, up 12.6% from the previous year.
“Such a significant investment status is attributed to the efficient economic and investment policies that have been developed based on the in-depth vision of our wise leadership as part of the UAE Vision 2021 and the UAE Centennial 2071,” he said.
