Sheikh Mohammed: UAE's FDI Inflow Climbs Over 44%

It is no doubt that the UAE has bounced back in many aspects with its persistence and reliability following the Covid-19 pandemic announced in 2020 as foreign direct investment (FDI) into the country leapt 44.2 per cent to Dh73 billion ($19.88 billion).

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai tweeted on Saturday that despite the UN’s estimates that global foreign direct investment flows decreased by 42 per cent in 2020 over Covid-19, the UAE witnessed a 44 per cent growth in FDI flows in 2020, compared to 2019, to reach Dhs73bn. “Good Crisis management is a guaranteed investment,” added Sheikh Mohammed.

Despite the UN's estimates that global foreign direct investment flows decreased by 42% in 2020 over COVID-19, the UAE witnessed 44% growth in FDI flows in 2020, compared to 2019, to reach AED73 billion. Good Crisis management is a guaranteed investment.

— HH Sheikh Mohammed (@HHShkMohd) May 15, 2021

The cumulative balance of FDI inflows grew to Dh639.1 billion, an increase of 12.9 per cent during the same period. While FDI had covered all key segments, the oil and gas sector were the busiest, with Adnoc spearheading a number of big investment deals and partnerships that will help its so-called in-country value strategy.

UAE Minister of Economy Abdullah bin Touq Al Mari said that the nation’s investment and economic scene has “succeeded in achieving an advanced position” in the world, aside from being tops in the region.

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, added that the position the country enjoys in global indicators to attract FDI was “not a coincidence”, but the product of a “clear vision” adopted by the leadership.

Dubai recorded Dhs24.7bn worth of FDI in 2020 across 455 projects, according to data from the Dubai FDI Monitor released by the Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy.

Image Source: Zawya

This article was previously published on UAE Moments.To see the original article, click here