UAE's Strategic Economic Shift Propels Global Investment Ranking | Kanebridge News
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UAE’s Strategic Economic Shift Propels Global Investment Ranking

By The UAE ranks as the world's 8th top FDI destination in the 2024 Kearney Index, achieving significant global investment recognition.
Fri, Apr 5, 2024 3:36pmGrey Clock 2 min

The United Arab Emirates (UAE) has achieved significant recognition in the global investment arena, now ranking as the world’s eighth most favorable destination for foreign direct investment (FDI), according to the 2024 Kearney Foreign Direct Investment Confidence Index.

This remarkable jump from 18th place in the previous year signifies the UAE’s establishment as a premier investment hub, largely due to its successful economic diversification efforts. With an impressive expansion of FDI flows reaching $22.7 billion in 2022, representing 60 percent of the FDI directed to Gulf nations, the UAE’s economic strategy is showing fruitful results.

The advancement in Kearney’s index, a respected indicator of corporate executives’ investment intentions, highlights the effectiveness of the UAE’s approach towards diversifying its economy beyond traditional sectors.

This approach is spearheaded by visionary leadership and strategic policy reforms aimed at enhancing the business environment, thus attracting global investors, particularly in emerging sectors like technology and renewable energy. The country now stands as the second most appealing emerging market for investment, trailing only behind China.

Rudolph Lohmeyer, head of Kearney National Transformations Institute

Economic Diversification

Rudolph Lohmeyer, head of Kearney’s National Transformations Institute, attributes this success to the UAE’s proactive and forward-looking leadership, which has been instrumental in steering the nation towards becoming a magnet for worldwide investment.

The government’s commitment to reforming policies and bolstering the business ecosystem, including the developing of a dynamic tech startup landscape, has been central to this achievement.

This leap in the Kearney FDI Confidence Index, now in its 26th iteration, serves as a significant endorsement of the UAE’s long-term strategy of economic diversification, which gained momentum following the oil price downturn in 2014.

With a focus on sectors ranging from renewable energy to tourism, and a solid foundation in infrastructure, the UAE is well-positioned for attracting even greater levels of foreign investment in the years to come.


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

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Preparatory Work for UAE to Oman Hafeet Rail Project Commences at Full Speed

Preparations have begun on the transformative UAE to Oman Hafeet Rail network, revealing significant construction details during a site visit.

Thu, May 16, 2024 3 min

The $3bn Hafeet Rail project between the UAE and Oman will feature 60 bridges and a 2.5km tunnel, making it an “architectural and engineering marvel,” according to CEO Ahmed Al Musawa Al Hashemi.

Hafeet Rail has announced that preparatory work is moving full speed ahead for constructing the transformative railway link between the UAE and Oman. This announcement was made during a site visit attended by key officials, members of the Asyad and Hafeet Rail executive management teams, project contractors, and consultants.

Key Highlights

During the visit, attendees were introduced to the main components of the project, including passenger, repair, and shipping stations, as well as major bridges and tunnel sites.

The Hafeet Rail project is set to play a very important role in enhancing local and regional trade, unlocking new opportunities in the infrastructure, transportation, and logistics sectors, and fostering economic diversification. It will also strengthen bilateral relations between the UAE and Oman.

The project will involve constructing 60 bridges, some reaching heights of up to 34 meters, and tunnels extending 2.5 kilometres. The Hafeet Rail team showcased the latest rail technologies and innovative engineering and architectural solutions designed to navigate the challenging geographical terrain and weather conditions while maintaining high standards of efficiency and safety.

The rail network will boost various industrial sectors and economic activities and significantly impact the tourism industry by facilitating easier and faster travel between the two countries.

Ahmed Al Bulushi, Asyad Group Chief Executive Asset, noted that the project’s rapid progress reflects the commitment of the UAE and Oman to developing and realizing the project’s multifaceted benefits.

Investment and Future Impact

Al Bulushi added that investments in developing local capabilities and expertise in rail-related disciplines over recent years have enabled the project to reach the implementation phase successfully under the leadership of highly efficient and professional national talent.

Hafeet Rail’s CEO Ahmed Al Musawa Al Hashemi emphasized, “The commencement of preparatory works for construction is a testament to the robust synergy between all parties involved in both nations, achieving this milestone in record time. We are confidently laying down the right tracks thanks to the shareholders of Hafeet Rail and the expertise of local companies in Oman and the UAE, alongside international partners.”

During the site visit, the visitors explored some of the key preparatory sites, including Wadi Al Jizi, where a 700-meter-long bridge towering 34 meters will be constructed. This ambitious project is envisioned as an architectural and engineering marvel in a complex geographical landscape.

Future phases will require more collaboration, with a continued focus on quality, safety, and environmental considerations in line with the international industry best practices.

The Hafeet Rail project represents the first-of-its-kind railway network linking two Gulf nations, marking a significant shift in regional goods transportation. This efficient and reliable transportation option will reduce dependence on slower and less sustainable road transport.

Hafeet Rail promises a 40% reduction in shipping costs and a 50% in transit times compared to traditional land transportation methods, as it will be connecting five major ports and several industrial and free zones in both countries.

This shift will reduce reliance on road transport by cars and trucks and promote more sustainable shipping practices. The establishment of the railway network will also create significant opportunities for SMEs in construction, engineering, and logistics support, acting as a catalyst for economic growth and innovation within the domestic economy.

By linking major ports, the Hafeet Rail project will enable local SMEs to import, export, and distribute their products more effectively, enhancing their market reach and global competitiveness.


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

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