#UAE seeks to attract $150bln FDI in 10 years

UAE seeks to attract $150bln FDI in 10 years

The UAE’s landmark ‘Projects of the 50’ initiative, which was unveiled to mark the nation’s 50th National Day in 2021, will be pivotal in the second-largest Arab economy’s efforts to attract over $150 billion foreign direct investment (FDI) in the next 10 years.

Projects of the 50, a series of developmental and economic undertakings designed to propel the UAE to a higher growth orbit aimed at more than doubling the size of its economy to Dh3 trillion by 2030 from Dh1.4 trillion, will be a key theme at the Annual Investment Meeting (AIM) to be held from March 29 to March 31, 2022, at the Dubai Exhibition Centre, EXPO 2020 Dubai.

In the wake of a string of investor-friendly reforms, the UAE is better-positioned as one of the best global destinations for FDI and talents going forward.

The UAE was the world’s 15th-biggest recipient of foreign direct investment in 2020, ranking one place above the UK and seven places higher than the prior year, according to the UN Conference on Trade and Development.

Although FDI flows plunged 35 per cent globally in 2020, investment into the UAE increased 11 per cent to almost $20 billion.