UAE Business News 247

UAE Business News Highlights

UAE-business-news-overviewDubai: The UAE business continues to be among the top destinations around the world for capital. According to the most recent report, in 2016 inflows of foreign direct investment into the country grew by 2.2 per cent to reach $9 billion.

The UAE was ranked as the 12th top recipient of Foreign Direct Investment by the 2017 World Investment Report from the United Nations’ Conference on Trade and Development (UNCTAD), to beat many other economies around the world.

It was also stated in the report that the UAE business news, in addition to other countries such as Saudi Arabia, Lebanon and Bahrain, stood out as very strong performers in the region to attract FDI. The UAE is one of the main countries accounting for the major share of the region’s inward FDI stock.

New UAE Business Report for 2017

By contrast, many investment markets around the world are experiencing a decline in their FDI flows.

The UNCTAD reported that global flows of FDI decreased by 2 per cent down to $1.75 trillion. In developing countries investment saw an even larger drop down to 14 per cent while flows to structurally weak economies and the least developed countries remained low and volatile.

According to the Minister of Economy, Sultan bin Saeed Al Mansouri, the country is working on some well thought-out strategies that are in line with the UAE Vision 2021 National Agenda through aligning efforts and making sure there are synergies across all of the various sectors at the local and federal levels in alignment with the directives coming from leadership.

According to the minister he is expecting the UAE to attract additional Foreign Direct Investment over the upcoming five year period as a direct result of the major projects that have been launched in the areas of retail industries and renewable energy.

He noted that the UAE’s cumulative FDIs by the end of 2016 increased to $117.9 billion from the end of 2015’s $109 billion, which was an 8.2 per cent growth rate that was supported by increased investments in the areas of transportation as well as other heavy industries, including petrochemicals and aluminum, along with other sectors, such as aviation and tourism.

Up through the end of 2016 UAE-bound FDI account for 16.9 percent of the overall total FDI for Western Asian countries. By the end of 2016 the UAE had claimed 26.5 percent of total FDI flowing to the GCC.

For West Asia, the UAE business news was the second highest recipient of FDI, and accounted for 32.3 percent of total Foreign Direct Investment flowing into the area in 2016, at an estimated $27.8 billion. For GCC countries, the UAE headed the list, which 50.2 percent of total FDI during this same year at an estimated $17.9 billion (with addition inputs coming from WAM).