UK is largest foreign direct investor in the UAE, says official

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The UK is the largest foreign direct investor in the UAE, with 6,000 British companies operating in the country in various sectors, according to a top official. Philip Parham, Ambassador of the United Kingdom to the UAE, said in an interview with state news agency WAM that more than 120,000 Brits live and work in the UAE, in addition to about one million British tourists visiting the UAE every year.

The ambassador also highlighted UAE investments in the United Kingdom, especially in the field of wind power generation, which, he said, will be launched in the near future. The comments came during a reception held by the British Embassy in the UAE in honour of Prince Andrew, Duke of York, onboard RFA Cardigan Bay of the British Navy in Mina Zayed in Abu Dhabi.

RFA Cardigan Bay

Prince Andrew is undertaking a working visit to Abu Dhabi this week, as part of the Pitch@Palace UAE initiative, which encourages young entrepreneurs to develop their business plans and present their innovative ideas for implementation on the ground.

Source Credit: Arabian Business
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