UAE Secures Second Place Globally in Greenfield FDI Project Announcements for 2023

Abu Dhabi, The Gulf Observer: The United Arab Emirates (UAE) has achieved a remarkable milestone by securing second place globally in greenfield foreign direct investment (FDI) project announcements for 2023. According to the World Investment Report 2024, published today by the UN Conference on Trade and Development (UNCTAD), the UAE announced 1,323 greenfield FDI projects, marking a significant 33 percent increase compared to 2022.

In terms of FDI inflows, the UAE attracted an impressive US$ 30.688 billion in 2023, reflecting a year-on-year growth of 35 percent from the US$ 22.737 billion recorded in 2022. This robust performance underscores the UAE’s growing appeal as a prime destination for international investment.

The report also highlighted that FDI outflows from the UAE stood at US$ 22.328 billion in 2023, compared to US$ 24.833 billion in the previous year. Despite the slight decline in outflows, the UAE’s FDI outflow stock experienced notable growth, reaching US$ 262.208 billion in 2023, up from US$ 239.880 billion in 2022.

The UAE’s impressive climb in the rankings of top destinations for greenfield projects, gaining two places after entering the top five in 2022, reflects its continued commitment to creating a conducive environment for business and investment. This progress is a testament to the nation’s strategic initiatives and reforms aimed at enhancing economic diversification and attracting global investors.

The UNCTAD report’s findings highlight the UAE’s dynamic investment landscape and its pivotal role in the global economy. As the country continues to implement forward-thinking policies and initiatives, it is well-positioned to sustain its momentum in attracting substantial foreign investments and driving economic growth.