Expo 2020 boosts foreign direct investment attractiveness in UAE

Expo 2020 boosts foreign direct investment attractiveness in UAE

Inayat-ur-Rahman, The UAE has ranked 14th globally and first regionally in Kearney’s 2022 Foreign Direct Investment (FDI) Confidence Index. The country is one of only four emerging markets on the 2022 index along with China, and Brazil, and has recorded a higher ranking this year in an increasingly competitive global FDI attraction environment. The business environment in the UAE continues to strengthen based on factors that are most important to investors, including growing technological and innovation capabilities. Central to the country’s attractiveness as a business and financial hub are plans to deepen trade ties in fast-growing economies in Asia and Africa with the aim to invite $150 billion in foreign investment. Kearney projects a strong average growth of 5.4 per cent over the next three years, bolstered by institutional reforms to promote trade and investment and improve the ease of doing business in the country. “The UAE’s steady rise in the rankings in the past years speaks to the power of consistency and momentum. With Expo 2020 opening in Q4 of 2021, the country has had a surge of tourism and new businesses opportunities. These have contributed to the growth of the country’s GDP, new job opportunities at various levels,