Thanks to its visionary leadership and strategic initiatives, the UAE continues to enjoy increased global trade and investment openness. Despite global investment flows declining by 2% in 2023, the Gulf state noted a 35% surge in foreign direct investment inflows.
The UAE jumped five places in one go last year to rank 11th globally in terms of its ability to attract FDI, according to the World Investment Report 2024 released this month by the UN Conference on Trade and Development (UNCTAD).
Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said: “The UAE is continuing to move in the right direction to strengthen its position as a preferred global destination for foreign investors … a haven for ambitious entrepreneurs and creative thinkers …”
UAE’s NextGenFDI initiative and Cepa programme
The UAE offers a great investment environment through its world-class infrastructure, flexible legislation, advanced technology and initiatives that stimulate business in different sectors and economic activities, media reports quoted Dr Thani Al Zeyoudi as saying.
He also underscored the NextGenFDI initiative – the first integrated package to facilitate company formation and offer banking, visa and real estate services in a streamlined manner – and the Comprehensive Economic Partnership Agreement (Cepa) programme.
The UAE has been implementing the Cepa programme since the end of 2021. Under it, the nation has concluded a number of agreements involving several countries of strategic investment and trade importance on the map of the global economy.
Most attractive Arab country for investment
Thanks to its visionary leadership and strategic initiatives, the UAE attracted a sizeable foreign direct investment last year – amounting to $30.7 billion. It is equivalent to about three times that of its closest competitors in the Middle East.
The UAE accounted for 45.4% of the total FDI inflows to the Arab region amounting to $67.6 billion, 47.1% of the total inflows to West Asia amounting to $65.2 billion, and about 38.6% of the total FDI inflows to the Mena region amounting to $79.5 billion in 2023.
Dr Thani bin Ahmed Al Zeyoudi highlighted that the UNCTAD data confirms that the Emirates continues to make steady and confident progress on the path for economic diversification and sustainable development, as per media reports.
Unmatched benefits of starting a business in UAE
The UAE offers a number of incentives to investors, supports entrepreneurship and facilitates the establishment of more companies to help diversify income sources. The nation continues to enhance its economic environment to lure in more foreign investments.
Its takes just 15 minutes to start a business in the UAE. There are over 2,000 economic activities for foreign investors to invest in and regulations exclude a very limited number of activities of strategic importance.
The UAE has a Golden residency visa system for investors, entrepreneurs and talented people, letting them and their families settle down, establish the business of their preference and enjoy a long stay. The UAE imposes no income tax on individuals.
Read More: UAE takes second place after US in Greenfield FDI project announcements
Trends1 week ago
News4 days ago
Entertainment1 week ago
Trends1 week ago