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ABU DHABI / WAM
The UAE maintained its lead in attracting the highest amount of foreign direct investment (FDI) inflows to the Arab region in 2017, according to a top official at the Ministry of Economy.
“The UAE was recipient of 40 percent of FDI inflows into Arab and Western Asian countries and 23.3 percent of FDIs directed to Middle East and North Africa in 2017, getting $130 billion worth of cumulative FDI inflows till 2017, 8.7 percent up from 2016,†said Abdullah bin Ahmed Al Saleh, Under-Secretary for Foreign Affairs at Ministry of Economy, noting that the UAE ranked first in Arab region and 30th globally in 2017 in attracting FDIs, five positions up compared to 2016.
Al Saleh made the statements during his speech before a workshop organised by the ministry in collaboration with UAE International Investors Council and Arab Investment & Export Credit Guarantee Corporation (Dhaman), which is based in Kuwait.
“Emirati FDI outflows to various countries in the world amounted to $14 billion in 2017, a growth of 7.7 percent from 2016, accounting for 43.6 percent of total Arab FDI outflows in the same year, therefore coming first in the Arab region and 21st globally, two positions up as compared to 2016. Cumulative FDI outflows until the end of 2017 surged to $124.4 billion, 12.6 percent up from 2016 levels,†he added.