The United Arab Emirates ranked second globally for greenfield foreign direct investment in 2023

According to the United Nations report, last year the UAE ranked second after the United States in terms of foreign direct investment (FDI) in new projects, with the number of projects announced in the Emirates increasing by 28%, which strengthened its position as a global FDI hub, despite global economic instability.

As part of the economic diversification strategy, the UAE has set ambitious goals to attract 550 billion dirhams (150 billion US dollars) of foreign investment by 2031 and become one of the world’s top 10 centers for attracting FDI.

In July 2022, the UAE also announced the NextGen FDI program. The program aims to accelerate licensing, increase the issuance of collective or golden visas, improve banking services and provide benefits for renting commercial and residential real estate for high-tech companies wishing to move to the country.

The inflow of foreign direct investment into Saudi Arabia, the largest economy in the Arab world, also increased by 63% last year, according to a report released on January 17 by the United Nations Conference on Trade and Development.

Source: The National