Media ININ Economy We Trust
Media In\ Abu Dhabi 07-04-2019
The cumulative foreign direct investment (FDI) in five major sectors in the UAE amounted to 102.6 billion dollars of the total foreign direct investment. The accumulated foreign direct investment stood at 129.9 billion dollars at the end of 2017, an increase of 8.7 percent over the same period. From 2016.
In an interview with the Emirates News Agency (WAM), the Minister of Economy said that the UAE has achieved a regional leadership and an advanced international rank and has progressed in terms of its ability to attract foreign direct investment (FDI) five times from 2016 (35th in the world) In 2017. It also retained its position as a regional and international destination for foreign direct investment and ranked first among the Arab countries during the last five years to attract during 2017 about 10.35 billion dollars, which accounted for 36% of the total foreign direct investment flowing to the group of Arab countries in addition to Huff Emirates J on the second ranking among the countries of West Asia during the same period to acquire accounted for 40.6% of total FDI flowing to the West Asia region.
Al-Mansouri said that the UAE ranked 12th in the world in terms of the number of new foreign direct investment projects announced during 2017 with a total of 329 projects, compared to 303 in 2016 according to UNCTAD reports based on FDI Markets data. The number of new projects announced for foreign direct investments In the UAE grew by 8.6% during the same period.
The sector of wholesale and retail trade accounted for 24.9% of the total foreign direct investment, followed by real estate sector by 23.8%, financial and insurance sector by 19.3%, manufacturing sector by 9.2% and mining and quarrying by 8.8%.
Al-Mansouri added that the wholesale and retail trade sector is at the forefront of foreign direct investment to the UAE with a value of US $ 29.8 billion, accounting for 24.9% of the total foreign direct investment in the UAE, while the British Virgin Islands is the largest investor in the sector with US $ 3.1 billion. Switzerland with 2.9 billion dollars and then the United Kingdom with 1.9 billion dollars. “The real estate sector comes in second place with foreign direct investment in this sector reaching US $ 28.4 billion with 23.8% Lee inward foreign direct investment to the UAE and India topping the countries investing in this sector by about 3 billion dollars, followed by the United Kingdom worth $ 2 billion, and Pakistan ranked third with $ 1.5 billion. ”
He pointed out that the sector of financial activities and insurance is ranked third, with the balance of foreign direct investments in this sector about $ 23 billion, contributing 19.3% of the total foreign direct investment entering the UAE and one of the most prominent countries investing in this sector the United Kingdom worth $ 7.4 billion Followed by America with 1.9 billion dollars and France with 1.1 billion dollars. He noted that the balance of foreign direct investments in the manufacturing sector amounted to 10.9 billion dollars with a contribution of 9.2% of the total foreign direct investment entering the UAE. Countries invested in this sector Austria worth $ 4 billion, followed by Kuwait with $ 657 million, followed by India in third place with $ 551 million, the United Kingdom ranked fourth with a value of $ 505 million.
He stressed that the investment environment in the UAE is characterized by stability, modern infrastructure, effective economic policy and advanced economic legislation, with distinguished international relations with various countries in addition to the UAE’s distinguished position as a strategic trading center that provides access to regional markets and the possibility to transfer profits and revenues without fees and enjoy legal systems and effective courts (Eg, intellectual property rights, competition, investment and laws), as well as a low customs tariff between 0% and 5% for almost all goods, with no income tax in addition to The availability of infrastructure and the efficiency of global government / orientation to the initiative of “smart government” / services level as the UAE enjoys being a hub for global aviation and sophisticated life style made from the UAE favorite for more than 200 nationalities destination.
