$21 billion.. UAE is the first Arab country to attract foreign investment

On 8 May 2023, the activities of the twelfth session of the annual forum kicked off in Abu Dhabi, under the slogan of transformation in investment aspects, with the participation of 44 ministers, 18 heads of organizations and participants from 70 countries, under the patronage of His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council of the Emirate of Abu Dhabi.

Attracting foreign direct investment

Dr. Thani Al-Zeyoudi, Minister of State for Foreign Trade, affirmed the country's attractiveness as a destination for capital, attracting investors and international companies, as the UAE ranked first in the Arab world and 19th globally in terms of attracting foreign direct investment during the past year.

He stressed the country's proactive vision in promoting sustainable investment, technology and green sectors, which is in line with current global trends seeking to diversify the future economy and promote transformation in investment activities.

Investment environment ($21 billion)

Al-Zeyoudi referred to the competitive factors that the investment environment enjoys in the UAE, including the country's regional geographic position, the development of the infrastructure sector, its keeping pace with international standards, and the facilities and incentives provided in the business environment, reviewing some of the recent indicators mentioned in the World Investment.

the United Nations Reported in 2022, that The UAE attracted more than 77 billion dirhams ($21 billion) in investment flows for the post-pandemic year 2021, at a time when Emirati investments abroad amounted to nearly 83 billion dirhams ($22.5 billion).

Al-Zeyoudi referred to the country's vision towards strengthening partnerships with many strategic partners, such as India, Indonesia and Turkey, to serve growth in the trade, industry and investment sectors, and to strengthen international alliances aimed at continuing economic diversification and achieving sustainability goals.

Economic Development

The head of the Department of Economic Development in Abu Dhabi, Ahmed Al Zaabi, revealed that the gross domestic product of the Emirate of Abu Dhabi approached 1.1 trillion dirhams for the year 2022, and the contribution of non-oil sectors represented 50% of the total, while the emirate aims to increase non-oil exports by more than 140% About 179 billion dirhams by 2031.

He pointed out that the assets of the banking sector in the country, which grew at a rate of 12 times compared to the year 2000, to 3.3 trillion dirhams, equivalent to 900 billion dollars, which constitutes a big jump, as it was equivalent to 70% of the nominal GDP of the country in 2000, to rise to More than 250% of output in 2022.

3.68 trillion dirhams

Abu Dhabi has become home to three of the world's leading sovereign wealth funds, with total assets exceeding 3.68 trillion dirhams, over a trillion dollars.

Abu Dhabi also hosts 2 of the largest state banks, along with a large number of international banks, while the market value of the Abu Dhabi Stock Exchange has increased nearly 5-fold over the past few years, to reach more than $650 billion, driven by the growth of private and state-owned companies.