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UAE: In a recent report by the United Nations Conference on Trade and Development (UNCTAD), the United Arab Emirates (UAE) has solidified its status as a leading destination for foreign direct investment (FDI). Amidst a global decline of 18% in FDI inflows in 2023, the United Arab Emirates has notably excelled, marking a substantial 28% increase in new foreign investment projects. This achievement firmly positions the UAE as the second-highest recipient globally, trailing only the United States.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai emphasized the country’s enduring appeal for investments, competitive edge, and talent attraction. He noted, “This underscores our enduring appeal for investments, competitive edge, and talent attraction. As we step into the new year, we do so with optimism and confidence. A heartfelt thank you to all who have invested in and continue to believe in the UAE economy.”

Moreover, despite a challenging global economic landscape, the UAE’s resilience and attractiveness for foreign investors remain evident. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, highlighted Dubai’s continued economic growth. He stated, “Driven by the strategic vision of its leadership, Dubai has set an example for economic strength, resilience, and innovation.”

Dubai’s GDP exhibited a robust growth of 3.3% in the first nine months of 2023, signalling steady progress towards the objectives of the ambitious Dubai Economy Agenda D33. This initiative, launched by Sheikh Mohammed bin Rashid, aims to position Dubai among the top three urban economies globally within the next decade.

Additionally, Sheikh Hamdan expressed confidence in achieving more milestones in 2024, saying, “With the dedicated efforts of our government teams and international business partners, we look forward to achieving many more milestones in 2024.”

As the UAE steps into the new year with optimism, its ability to attract investments and foster economic growth remains a beacon of hope on the global stage.