ABU DHABI, The UAE ranked 27th globally in attracting FDI flows in 2018, according to the United Nations Conference on Trade and Development’s World Investment Report 2019, three positions up from its 2017’s classification by UNCTAD.
Overall, the report said, the UAE received in 2018 direct foreign investments of more $10.4 billion, maintaining lead as the top FDI recipient in Arab world by drawing 36 percent of inflows, and ranking second in West Asia by attracting 33.4 percent of FDIs into this region.
Sultan bin Saeed Al Mansouri, Minister of Economy, said the results “corroborate investor confidence in the country’s business-friendly environment and reinforces the prestigious position boasted by the UAE as a key regional investment hub.”
The improved ranking of the UAE comes at a time FDI flows slid by 13% in 2018, to US$1.3 trillion from $1.5 trillion the previous year � the third consecutive annual decline, according to the report.
FDI inflows into the UAE, according to the report, hit $10.385 billion in 2018, from $10.354 billion in 2017, while outflows spiked from $14.060 billion in 2017 to $15.079 billion in 2018.
Source: Emirates News Agency