UAE’s foreign direct investment grew 44% in 2020: Sheikh Mohammed

  • Date: 15-May-2021
  • Source: Gulf News
  • Sector:Economy
  • Country:UAE
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UAE’s foreign direct investment grew 44% in 2020: Sheikh Mohammed

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said in a Tweet on Saturday that foreign direct investment (FDI) into the country rose 44 per cent in 2020. "Despite the UN's estimates that global foreign direct investment flows decreased by 42% in 2020 over COVID-19, the UAE witnessed 44% growth in FDI flows in 2020, compared to 2019, to reach AED73 billion," tweeted Sheikh Mohammed. "Good crisis management is a guaranteed investment," he added. Contributing to this figure were large deals carried out by the state-run Abu Dhabi National Oil Co (ADNOC).