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UAE attracts record inflows of foreign investment… $31 billion in 2023

UAE attracted record inflows of inward foreign direct investment in 2023 at about 112.7 billion dirhams, equivalent to $30.7 billion, a growth of 35%, compared to 83.3 billion dirhams, equivalent to $22.7 billion in 2022, which reflects a noticeable increase in its attractiveness. For foreign investors, according to a report by the United Nations Conference on Trade and Development (UNCTAD).

According to the report, titled “World Investment Report 2024,” which showed a decline in global foreign direct investment by 2% to reach $1.3 trillion in 2023, the UAE achieved a growth of 35% in the value of investments, and 32.7% in the number of projects. .

The report indicated that the UAE ranked eleventh among the top 20 countries attracting foreign direct investment in 2023, making a jump from sixteenth place in 2022, while the United States of America, China and Singapore maintained their top three positions, respectively, with approximately $311 billion and $163 billion. One billion dollars and 160 billion dollars.

The UAE has also maintained its position as the largest destination for foreign investments in the Middle East and West Asia.

Investment balance
The report indicated an increase in the balance of foreign direct investments in the UAE by the end of 2023 to 825.8 billion dirhams, equivalent to 225 billion dollars, a growth of 15.8%, compared to 713 billion dirhams, equivalent to 194.3 billion dollars in 2022.

New projects
The UAE rose two places in the ranking of top destinations, in terms of the number of new foreign direct investment projects (Greenfield projects), after entering the list of the top five during the year 2022, and ranked fourth. In 2023, the UAE ranked second globally in the number of foreign investment projects. New Direct (Greenfield project); As 1,323 new projects were announced, a growth of 32.7% compared to 997 projects in 2022, which highlights its ability to attract new investments and provide job opportunities, while the United States came in first place with 2,152 projects, and the United Kingdom came in third place with 1,184 projects.

On the other hand, the value of UAE investment flows abroad during 2023 amounted to about 81.8 billion dirhams ($22.3 billion), a decline of 10.1%, compared to 91 billion dirhams ($24.83 billion) in 2022, and despite the decline, the country rose in rank. One to sixteenth place, in terms of countries with the most foreign investment flows abroad.

The balance of UAE investments abroad increased by 9.3% to reach 962.3 billion dirhams ($262.2 billion) by the end of 2023, compared to 880.3 billion dirhams ($239.88 billion) by the end of 2022.

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