UAE: A Premier Destination for Investment and Sustainable Growth
Record growth in FDI inflows to the UAE.
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The UAE has solidified its status as a premier global destination for promising investment opportunities and a vital player in the global economy, securing 45.4% of the total foreign direct investments (FDIs) into Arab states, totaling AED248.3 billion in 2023.
According to the World Investment Report 2024 by UN Trade and Development (UNCTAD), the UAE saw a record growth in FDI inflows, increasing by 35% to reach AED112.6 billion in 2023.
Thanks to its enabling environment, flexible policies, and competitiveness, the UAE leads in attracting FDIs, facilitating diverse business activities and pioneering startup projects. The country also boasts advanced investment legislation and incentives that enhance FDI inflows.
Changes to the Commercial Companies Law, allowing foreign investors to establish and fully own companies, led to the creation of over 275,000 new companies within a year and a half, bringing the total to over 788,000 by the end of 2023.
The UAE’s collaborative efforts across government and private sectors aim to achieve the ‘We the UAE 2031′ vision, with goals to double GDP to AED3 trillion and increase foreign trade to AED4 trillion.
In 2023, the UAE ranked second globally, after the United States, in greenfield FDI project announcements, with 1,323 new projects registered, reflecting a growth rate of approximately 33% compared to the previous year.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
