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ABU DHABI / WAM
AED108 billion is the volume of foreign direct investment in Abu Dhabi for the year 2017, a growth of 7.1% over 2016, according to the Statistics Center — Abu Dhabi.
In its annual report issued in coordination with the Department of Economic Development (DED) on the estimates of FDI in the Emirate of Abu Dhabi in 2017, SCAD said the total FDI in the emirate recorded grew 7.1 percent in 2017 to AED108,045 million, compared to AED100,887 million in 2016.
The report was issued during the Annual Investment Meeting 2018 which opened at the Dubai World Trade Center under the patronage and attendance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Saif Mohammed Al Hajeri, Chairman of the DED, said the report provides an insight into the planning and decision making of economic policies in line with Abu Dhabi Plan to achieve a sustainable and comprehensive development.
According to the report, the “real estate activities (which include real estate sales for non-residents)†have made the highest contribution to FDIs for the year 2016 and 2017 with 27.7 percent and a value of AED29.9 billion in 2017 and 27.9 billion in 2016.
Meanwhile, FDI in process industries in 2017 increased to AED19.2 billion from AED18 billion in 2016. Also, the contribution rate of the construction and building activity to the total FDI increased from 7.9%, AED8.10 billion, in 2016 to 8.6% and AED9.2 billion in 2017.