FDI to the UAE surges 44.2 per cent in 2020, backed by billion-dollar infrastructure investments | The National
Foreign direct investment to the UAE surged 44 per cent to reach nearly $20 billion (Dh73.45bn) in 2020, the government said on Saturday.
"Despite the UN's estimates that global foreign direct investment flows decreased by 42 per cent in 2020 over Covid-19, the UAE witnessed 44 per cent growth in FDI flows in 2020, compared to 2019, to reach Dh73bn," Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said in a tweet.
"Good crisis management is a guaranteed investment," he added.
The UAE's significant inflows of FDI last year in the middle of the pandemic were largely due to Adnoc monetising some of its non-core assets.
Last year, Adnoc helped attract Dh62bn ($16.8bn) in foreign direct investment to the UAE, mainly through various multibillion-dollar transactions signed in the midstream and infrastructure segments.
Over the past four years, the state-owned company helped drive Dh237bn in FDI flows to the UAE.
The national oil company opened up partnership opportunities across its midstream and real estate sectors to allow foreign private equity and pension funds to pool in capital.
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