Friday , 17 August 2018

UAE largest receiver of FDIs in Arab region in 2016: Minister of Economy

His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy

Al Mansouri noted that the law will increase allowed percentage of foreign ownership of local investment projects, up to 100% in specified sectors.

Panoramic sunset city skyline. UAE law will increase the allowed percentage of foreign ownership of local investment projects, up to 100 percent in certain specified sectors.

ABU DHABI- Sultan bin Saeed Al Mansouri, Minister of Economy, has announced that the average value of foreign direct investment, FDI, received by the country in 2016 reached US$9 billion.

The UAE’s outgoing international investments also reached $15.7 billion, making the country the largest receiver of FDIs in the Arab region and the largest Arab investor abroad, he added.

In his lecture yesterday at the headquarters of the National Defence College in Abu Dhabi, with the attendance of Major General Staff Pilot Rashid Mohamed Salem Al Saadi, Commander of the College, Al Mansouri said that the cumulative balance of incoming FDI at the end of 2016 reached $117.9 billion while the balance of the UAE’s direct investments aboard reached $113.2 billion.

He explained that the country’s business and investment environment is witnessing ongoing developments and current work is being done on issuing a new investment law, with the aim of encouraging and promoting investments and strengthening the appeal of vital economic sectors while focusing on qualitative investments in value-added sectors.

Al Mansouri noted that the law will increase the allowed percentage of foreign ownership of local investment projects, up to 100 percent in certain specified sectors, based on key standards that include a project’s level of integration with the country’s strategic and development plans and the size of invested foreign capital, as well as its potential to realise added value, support the country’s human resources and advance its technological development, and its compliance with the principles of environmental protection and the green economy.

He also praised the key role of the National Defence College in the area of military academic education and elevating the UAE Armed Forces, as well as its contributions to preparing future leaders, through leading and integrated courses that include various specialisations and subjects.

About Marc Mcilhone

Marc Mcilhone
Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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