UAE
UAE sees 44.2% surge in foreign direct investment
Foreign direct investment to the UAE surged 44 percent to reach nearly $20 billion (Dh73.45bn) in 2020, the government said on Saturday.
The UAE’s significant inflows of FDI last year in the middle of the pandemic were largely due to Adnoc monetising some of its non-core assets.
Dubai, the UAE’s financial, transportation and trade hub, attracted Dh24.7bn ($6.7bn) in FDI last year, through 455 projects, according to government data published in April.
The Ministry of Economy aims to drive efforts to expand the size of the economy to reach Dh3 trillion over the next 10 years.
