Investment jumps by 200% from $4b in 2007 to $12b in 2013
Last year, the country also recorded a 20 per cent year-on-year growth in FDIs that reached $12 billion, Abdulla Al Saleh, Undersecretary, UAE Ministry of Economy, Foreign Trade Sector, told reporters at a news conference in Dubai on Thursday.
“In 2013, the UAE was able to attract three times more FDIs than expected,” Al Saleh said, adding that increased government spending and a significant resurgence in tourism, transport and trade have contributed to this upswing.
He mentioned that FDI jumped by 200 per cent from $4 billion in 2007 to $12 billion in 2013.
The country is the third most attractive country in West Asia for FDIs, he said quoting UNCTAD figures.
Al Saleh said that the country attracts more than 40 per cent of the FDIs inflow into the Gulf countries. “We think we can increase that number further,” he said adding that because the UAE is one of the best countries to attract foreign investment.
He said recent win of Dubai for hosting the World Expo 2020 would significantly boost FDI in services sectors of the country. He said that the UAE had become a tier-one investment destination thanks to its conducive business environment backed by its unique features and advantages like its strategic location, logistics infrastructure, high flexibility and increase inflow of foreign investment. Al Saleh stressed that the UAE has succeeded in attracting foreign direct investment through globalisation and its strong role as a prominent player in the modernised globalised economy.
Al Saleh added that the UAE has the advantages of the ideal economic and investment environment supported by a modern integrated structure of airports and ports, communications, transportation and logistics services.
The country aims to become the best in terms of ease of doing business worldwide, as per the National Agenda that outlines the UAE’s objectives over the next seven years.
The UAE was ranked 14th on the latest A. T Kearney Global Foreign Direct Investment Confidence Index (FDICI), which measures present and future prospects for FDI flows. The country’s investor friendly legislation and easy access to fast growing Middle East and African markets have made it a hub for foreign investments, according to the report.
Recent win of Dubai for hosting World expo 2020 will significantly boost foreign direct investment in services sectors of the country. — Kt file photo
The UAE is expected to attract foreign direct investment (FDI) of $14.4 billion in 2014, 20 per cent higher than 2013, according to a top government official.Last year, the country also recorded a 20 per cent year-on-year growth in FDIs that reached $12 billion, Abdulla Al Saleh, Undersecretary, UAE Ministry of Economy, Foreign Trade Sector, told reporters at a news conference in Dubai on Thursday.
“In 2013, the UAE was able to attract three times more FDIs than expected,” Al Saleh said, adding that increased government spending and a significant resurgence in tourism, transport and trade have contributed to this upswing.
He mentioned that FDI jumped by 200 per cent from $4 billion in 2007 to $12 billion in 2013.
The country is the third most attractive country in West Asia for FDIs, he said quoting UNCTAD figures.
Al Saleh said that the country attracts more than 40 per cent of the FDIs inflow into the Gulf countries. “We think we can increase that number further,” he said adding that because the UAE is one of the best countries to attract foreign investment.
He said recent win of Dubai for hosting the World Expo 2020 would significantly boost FDI in services sectors of the country. He said that the UAE had become a tier-one investment destination thanks to its conducive business environment backed by its unique features and advantages like its strategic location, logistics infrastructure, high flexibility and increase inflow of foreign investment. Al Saleh stressed that the UAE has succeeded in attracting foreign direct investment through globalisation and its strong role as a prominent player in the modernised globalised economy.
Al Saleh added that the UAE has the advantages of the ideal economic and investment environment supported by a modern integrated structure of airports and ports, communications, transportation and logistics services.
The country aims to become the best in terms of ease of doing business worldwide, as per the National Agenda that outlines the UAE’s objectives over the next seven years.
The UAE was ranked 14th on the latest A. T Kearney Global Foreign Direct Investment Confidence Index (FDICI), which measures present and future prospects for FDI flows. The country’s investor friendly legislation and easy access to fast growing Middle East and African markets have made it a hub for foreign investments, according to the report.
— abdulbasit@khaleejtimes.com
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