UAE remains top choice of investors as FDI inflows to hit $22 billion this year

UAE remains top choice of investors as FDI inflows to hit $22 billion this year

Business-friendly policies, excellent infrastructure, and business reforms to drive foreign investment into the country

The UAE recorded a 116 per cent growth in FDI over the past 10 years, signalling the development and diversification of the economy despite geopolitical tensions, global economic slowdown, and volatile oil prices in international markets. — Supplied photo

Published: Sun 20 Nov 2022, 2:41 PM

The UAE will continue to drive foreign direct investment (FDI) capital into the region as investors prefer the emirate due to its business-friendly policies, excellent infrastructure, and structural changes aimed at diversifying the economy, experts say.

Hatem El Safty, CEO of Business Link, said the UAE will attract a major share of $66 billion in potential FDI inflows into the Middle East, North Africa, and Pakistan (MENAP) in 2023 as global investors consider the emirate an ideal destination for investment.

Referring to a recent report released by the Institute of International Finance, he said the emirate is expected to attract $22 billion in FDI inflows this year due to its business and visa reforms while the MENAP region is expected to receive $56 billion in FDI inflows.

“We have observed how willingly people invest in the UAE and allowing 100% foreign ownership in businesses is a