UAE recorded second-highest increase in number of new foreign investment projects in 2023: UNCTAD

Photo credit: WAM

A recent report issued by the United Nations Conference on Trade and Development (UNCTAD) has unveiled a noticeable increase in new foreign investment projects in the UAE during the year 2023, explaining that the number of these projects increased by 28 percent compared to 2022, WAM reports.

The report stated that the UAE recorded the second-highest increase in the number of new foreign investment projects around the world after the US, which came in first place.

The report, entitled“ Investment Trends Monitor” confirmed that the UAE has continued to maintain its global attractiveness in attracting foreign direct investment flows, despite the decline of these flows in many regions of the world.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasised that the UAE is benefiting from the forward-looking vision of its leadership by enhancing investment and trade openness globally. The country is also focused on improving the business environment to attract foreign direct investment, entrepreneurs, international talents, and creative individuals seeking an environment supportive of innovation and sustainable economic growth.

He noted that the UAE's record foreign direct investment projects, as highlighted in the UNCTAD report, demonstrate the country's growing stature as a global business hub, attracting creative ideas and investments from around the world. Al Zeyoudi also emphasised that these numbers signify the remarkable recovery of the national economy, surpassing global benchmarks in economic growth, non-oil foreign trade, and the attraction of foreign direct investment. This underscores the increasing confidence of the global business community in the UAE's economy, policies, legislative environment, and commitment to sustainable growth.

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