What's Hot

    Pakistan economy in danger of collapsing due to loan defaults

    January 27, 2023

    Global growth will slow to 1.9 percent in 2023, warn UN economists

    January 26, 2023

    Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

    January 26, 2023
    Facebook Twitter Instagram
    Trending
    • Pakistan economy in danger of collapsing due to loan defaults
    • Global growth will slow to 1.9 percent in 2023, warn UN economists
    • Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion
    • OPEC fund loans $120 million to Panama to tackle climate change
    • Ship carrying 22 sinks off Jeju, 14 rescued, 9 unconscious
    • Transport halted across Japan by heavy snow, deep cold
    • Tourism in Thailand beats target with 11.15 million visitors
    • Spotify will reduce its workforce by 6 percent
    • Home
    • Contact Us
    South Africa GazetteSouth Africa Gazette
    Friday, January 27
    • Automotive
    • Business
    • Entertainment
    • Health
    • Luxury
    • Lifestyle
    • News
    • Sports
    • Technology
    • Travel
    South Africa GazetteSouth Africa Gazette
    Home » Despite COVID-19 – UAE FDI value up to 174 billion in 2020

    Despite COVID-19 – UAE FDI value up to 174 billion in 2020

    May 16, 2021
    Share
    Facebook Twitter LinkedIn Pinterest Email
    The FDI inflows to the UAE grew 44.2 percent in 2020 to $19.88 billion as compared to 2019, despite the fallout of the COVID-19 pandemic which has taken its toll on the global economy, according to a report by the Ministry of Economy. The cumulative value of foreign direct investments inflows amounted to $174 billion, a growth of 12.9 percent during the reference period. 

    Despite COVID-19 - UAE FDI value up to 174 billion in 2020

    FDIs covered all economic platforms, primarily the Oil & Gas, considering the massive investment partnerships struck by the Abu Dhabi National Oil Company (ADNOC) with a number of foreign companies. The UAE has drawn FDIs for digital economy, including Artificial Intelligence, Internet of Things, blockchain, medical knowhow, augmented and virtual reality (AR and VR), robotics, self-drive automobiles, renewable energy, innovation, agri-tech, etc. In terms of FDI outflows, they amounted to $9.2 billion and covered various vital economic sectors, including aviation, transportation, mining, renewable energy, real estate, construction, communication, oil & natural gas, traditional & renewable energy, logistics, ports and infrastructure, tourism, leisure, banking, and agriculture sectors.

    Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy, said, “The investment landscape of the UAE has been steadily developing over the past years with the rapid introduction of progressive measures that have earned the nation a coveted position internationally while leading regionally thanks to the directives of our wise leadership to provide a business-friendly environment conducive to facilitating doing business and development that serves the greater good of the country.” He added that the next period will see more measures to strengthen the investment landscape and grow investor confidence in priority sectors.
    Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the significant growth levels secured by the UAE in terms of FDIs are reflective of increased investor confidence in the country’s investment ecosystem. Despite the challenges of the global pandemic in 2020, the UAE was able to strengthen its position as a global economic and financial hub. Taking advantage of its strategic geographical location, thriving business ecosystem and quality of life, more multinational corporations selected the UAE, creating new jobs and attracting global talent to live and work in the country.

    Keep Reading

    Global growth will slow to 1.9 percent in 2023, warn UN economists

    Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

    Google is planning to lay off 12,000 employees

    India signs a train deal worth 3 billion euros with Siemens

    Indian exports surged to $569 billion from April to December 2022

    Mubadala acquires US-based Dental Care Alliance

    Latest News

    Pakistan economy in danger of collapsing due to loan defaults

    January 27, 2023

    Global growth will slow to 1.9 percent in 2023, warn UN economists

    January 26, 2023

    Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

    January 26, 2023

    OPEC fund loans $120 million to Panama to tackle climate change

    January 26, 2023

    Ship carrying 22 sinks off Jeju, 14 rescued, 9 unconscious

    January 25, 2023

    Transport halted across Japan by heavy snow, deep cold

    January 25, 2023

    Tourism in Thailand beats target with 11.15 million visitors

    January 24, 2023
    © 2022 South Africa Gazette | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.