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DUBAI / WAM
The total of the Foreign Direct Investments (FDI) in the UAE increased to more than AED1 trillion by the end of 2016, an indication of economic robustness, the UAE Federal Competitiveness and Statistics Authority (FCSA) said.
According to the outcomes of a survey conducted by the FCSA, in association with local statistics authorities in the country, the value of inward direct investment made by non-resident investors in 2017, across the country, amounted to AED1.05 trillion by the end of 2016.
Investment inflow from the UK was the highest with 16.5 percent of the total FDI, followed by India with 5.5 percent, the US with 4.3 percent, France 4.1 percent, and Saudi Arabia with 3.7 percent.
As for the economic activities that lured the FDI, wholesale and retail sector came on top with 24.9 percent of the total FDI, followed by the real estate industry with 23.8 percent, financial and insurance services placed third with 19.3 percent, then transformative industries with 9.2 percent and finally the mining and quarries took 8.8 percent.
The annual survey was designed as per the best international recommendations and methodologies issued by the World Bank, particularly the 6th edition of the International Monetary Fund’s (IMF) Balance of Payments and International Investment Position Manual and the Detailed Benchmark Definition of Foreign Direct Investment of the United Nations Conference on Trade and Development (UNCTAD).