UAE Has Become One of the Biggest Foreign Investors
UAE is slowly emerging as one of the largest foreign investors in the world. A recent report published by the United Nations Conference on Trade and Development (UNCTAD) has deemed the nation as one of the top 20 countries in terms of the amount of foreign direct investments.
The World Investment Report 2019 has pointed out that FDI outflow has increased $1 billion in a single year. This enhancement of investment has ensured the 19th place in the global investors’ list.
The investment from the UAE to the developing countries of Asia has gone up to $22 billion in 2018 from $6.18 billion in 2017. The investments to Africa have also more than doubled to $3.93 billion in 2018, from $1.81 in 2017. On the other hand, investment from the developed parts of Asia to the UAE has doubled in 2018 and reached $5 billion.
The outflow of investment from the UAE to the least developed countries has marginally increased last year. The report showed that in 2017, the total invested sum was $1.39 billion that increased to 1.54 billion in 2018. However, the amount of investment to small developing nations has increased from $63 million in 2017 to $179 million in 2018.
FDI flow to the country, however, remains unchanged at $10 billion. The investment was spread a diverse range, from digital technology to oil and gas.
Fahad Al Gergawi, CEO of Dubai FDI, has pointed out that the UAE will be playing an essential role in the economic condition of the Middle-East. In this scenario, Dubai will play a pivotal role in bringing investments and being a centre for business.