UAE to stay top FDI destination in Gulf

The UAE expects to remain the main recipient of foreign direct investment in the Gulf Arab region, despite competition from other Gulf states, a senior economy official said on Monday.

“The UAE will continue to be the major player when it comes to foreign direct investment, without any doubt,” Mohammed Ahmed bin Abdul Aziz, director general of the ministry of the economy, told reporters on the sidelines of a seminar in the UAE capital.

“Numbers show where the investment is going -- it’s coming to the UAE,” he said. “The year before last we had 60 percent of FDI in the UAE, last year it was about 50 percent.”