Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Indian space program places 36 satellites in their intended orbits

    March 27, 2023

    The third largest fish producer in the world, India accounts for 8 percent of global production

    March 25, 2023

    Canadian legislature laughs after Biden accidentally applauds China

    March 25, 2023
    Facebook Twitter Instagram
    Angola ReportAngola Report
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Angola ReportAngola Report
    Home » Despite COVID-19 – UAE FDI value up to 174 billion in 2020
    Business

    Despite COVID-19 – UAE FDI value up to 174 billion in 2020

    May 16, 2021
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    The FDI inflows to the UAE grew 44.2 percent in 2020 to $19.88 billion as compared to 2019, despite the fallout of the COVID-19 pandemic which has taken its toll on the global economy, according to a report by the Ministry of Economy. The cumulative value of foreign direct investments inflows amounted to $174 billion, a growth of 12.9 percent during the reference period. 

    Despite COVID-19 - UAE FDI value up to 174 billion in 2020

    FDIs covered all economic platforms, primarily the Oil & Gas, considering the massive investment partnerships struck by the Abu Dhabi National Oil Company (ADNOC) with a number of foreign companies. The UAE has drawn FDIs for digital economy, including Artificial Intelligence, Internet of Things, blockchain, medical knowhow, augmented and virtual reality (AR and VR), robotics, self-drive automobiles, renewable energy, innovation, agri-tech, etc. In terms of FDI outflows, they amounted to $9.2 billion and covered various vital economic sectors, including aviation, transportation, mining, renewable energy, real estate, construction, communication, oil & natural gas, traditional & renewable energy, logistics, ports and infrastructure, tourism, leisure, banking, and agriculture sectors.

    Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy, said, “The investment landscape of the UAE has been steadily developing over the past years with the rapid introduction of progressive measures that have earned the nation a coveted position internationally while leading regionally thanks to the directives of our wise leadership to provide a business-friendly environment conducive to facilitating doing business and development that serves the greater good of the country.” He added that the next period will see more measures to strengthen the investment landscape and grow investor confidence in priority sectors.
    Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the significant growth levels secured by the UAE in terms of FDIs are reflective of increased investor confidence in the country’s investment ecosystem. Despite the challenges of the global pandemic in 2020, the UAE was able to strengthen its position as a global economic and financial hub. Taking advantage of its strategic geographical location, thriving business ecosystem and quality of life, more multinational corporations selected the UAE, creating new jobs and attracting global talent to live and work in the country.
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    The third largest fish producer in the world, India accounts for 8 percent of global production

    March 25, 2023

    A gold price peak may be near – and it may last

    March 23, 2023

    Credit Suisse and UBS are in talks to merge – FT

    March 18, 2023

    Ryan Reynolds joins other celebrities in $1.35 billion Mint Mobile deal

    March 15, 2023
    Latest News

    The third largest fish producer in the world, India accounts for 8 percent of global production

    March 25, 2023

    Canadian legislature laughs after Biden accidentally applauds China

    March 25, 2023

    An oasis of tranquility for the diverse Abu Dhabi community – Abrahamic Family House

    March 24, 2023

    Globally, water pollution and sanitation are major problems – UN

    March 23, 2023

    A gold price peak may be near – and it may last

    March 23, 2023

    Ibrahimovic is back with Sweden but is not thinking about Euro 2024

    March 21, 2023

    South Korea opposes North Korean satellite acquisitions

    March 21, 2023

    Credit Suisse and UBS are in talks to merge – FT

    March 18, 2023
    © 2023 Angola Report | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.