UAE Set to Reach Record $30 Billion in FDI Inflows

Arab Times News – May 8, 2024: The United Arab Emirates (UAE) is poised to achieve a milestone of $30 billion in foreign direct investment FDI inflows this year, reflecting its resilience and attractiveness to global investors despite geopolitical tensions. Jamal Al Jarwan, secretary general of the UAE International Investors Council, made this announcement during the Annual Investment Meeting (AIM) Congress 2024 in Abu Dhabi, underscoring the nation’s commitment to fostering a stable and investor-friendly environment.

FDI Inflows Continued Growth Amidst Global Challenges

Al Jarwan emphasized that despite geopolitical complexities, the UAE remains an oasis of opportunity and stability, ensuring sustained FDI inflows. “We’ve seen consistent growth, with $24 billion in 2022 and $27 billion in 2023. This year, we anticipate crossing the $30 billion mark,” he stated during a panel discussion at the AIM Congress 2024. He attributed this success to the UAE’s reputation as “the least risky market in the world.”

The UAE’s strategic efforts to diversify its economy away from oil and gas have yielded remarkable results, with the non-oil sector now contributing over 70% to the nation’s GDP. Al Jarwan highlighted the significance of this diversification strategy, noting its pivotal role in ensuring sustainable economic growth and resilience in the face of global challenges.

Towards a Trillion-Dollar Economy

Al Jarwan outlined ambitious plans for the UAE’s economic future, envisioning a $1 trillion GDP by 2031. He underscored the nation’s robust investment portfolio, which currently exceeds $2.5 trillion across 90 countries, reflecting the UAE’s commitment to global economic integration and prosperity.

Highlighting the UAE’s legacy of strategic investments, Al Jarwan emphasized the nation’s ongoing commitment to expanding its global footprint. From historic agreements like the $35 billion investment pact with Egypt for the development of Ras Al Hekma to its continued investment strategy spanning decades, the UAE remains steadfast in its pursuit of sustainable economic growth and international cooperation.

Navigating Challenges, Embracing Opportunities

Despite geopolitical uncertainties, the UAE’s resilience and adaptability position it as a beacon of economic stability and innovation. With a clear vision for the future and a track record of strategic investments, the UAE continues to chart a path towards prosperity, leveraging its strengths to navigate challenges and seize opportunities on the global stage.

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