‘FDI can be used as vehicle to achieve sustainable growth’

DUBAI / WAM

According to the 2017 Global Investment Report published by the United Nation’s Council on Trade and Development (UNCTAD), the UAE is the 11th largest FDI recipient in Asia. Its main investors are the UK, Japan and Hong Kong. In 2016, the UAE attracted $8.9 billion, a 1.7 percent increase on 2015, with the political and economic stability of the country attracting investors. The bulk of FDI
is concentrated in retail/ wholesale trading, real-estates, insurance and manufacturing industry sectors.
The Cumulative Foreign Direct Investment (FDI) of the UAE jumped to $117.9 billion by the end of 2016 from
$109 billion by the end of 2015, a growth of 8.2 percent supported by increasing investments in areas of transform- ational and other he-avy industries, according to recent reports.
Issues related to investment and development will be discussed at the 2018 edition of the Annual Investment Meeting (AIM) that will take place at the Dubai World Trade Centre from April 9-11.
“FDI can be used as a vehicle to achieve sustainable economic growth. In the UAE, we are continuously working to adopt policies and structures that will ultimately
provide us with the right environment to not only be able to attract FDI, but also to retain its positive effects and desired spillovers,” Sultan bin Saeed Al Mansouri, Minister of Economy, said in a statement to announce the 8th edition of the AIM Congress.
“It is now widely understood that sustainable development is not necessarily a consequence of FDI. In fact, FDI can have negative consequences on sustainable development, if the right policies and frameworks are not laid out accordingly.”