Foreign Direct Investments (FDI) in the UAE witnessed significant growth in recent years, despite the challenges posed by the Covid-19 pandemic.
According to a report by the Ministry of Economy, during the past decade from 2012 to 2021, FDIs in the country increased by 116 percent, amounting to $20.667bn in 2021 compared to $9.566bn in 2012.
FDI inflows witnessed remarkable growth over the last decade, rising from $9.764bn in 2013, $11.071bn in 2014, $8.55bn in 2015, $9.604bn in 2016, $10.354bn in 2017, $10.385bn in 2018, $17.874bn in 2019 and $19.884bn in 2020.
In light of this growth, the UAE was ranked 19th globally in the list of top 20 countries that attract FDIs, and the first in West Asia and the Middle East and North Africa region.
Moreover, the cumulative FDI balance received by the UAE also increased by 141.6 percent from 2011 to 2021, rising from $71.02bn to reach $171.563bn last year, representing an increase of more than $100.5bn over 11 years.
In recent years, all national economic sectors have continued attracting FDIs.
According to data from the Central Bank of the UAE, the national manufacturing sector grew by 13 per cent, the healthcare sector by nine per cent, the information and communication technology sector by six percent, the financial, banking and insurance sector by four per cent, the real estate sector by four per cent, the oil and gas sector by three per cent, and the services sector by two percent, compared to 2020.
Meanwhile, the value of global FDI inflows amounted to $1.6tn, an increase of 64 per cent compared to 2020.
Last year, most developed countries witnessed growth in terms of FDIs. In the US, FDI inflow more than doubled to $367bn while in developing economies, FDI inflows increased by 30 per cent to $837bn.