The United Arab Emirates (UAE) has secured its position as the world’s second-highest recipient of greenfield Foreign Direct Investment (FDI) announcements in 2023, following closely behind the United States. The revelation comes from the latest report by the United Nations Conference on Trade and Development (UNCTAD).
The report sheds light on the UAE’s remarkable 28 percent increase in greenfield FDI announcements in 2023. Moreover, it indicates that the UAE’s FDI flows reached an unprecedented $22.73 billion in 2022, showcasing a substantial 10 percent growth compared to $20.66 billion in the previous year. This surge marks a record high for the country and underscores its appeal as a thriving economic hub attracting international investment.
Meanwhile, West Asia experienced a stable 2 percent growth in FDI, and Saudi Arabia stood out with a remarkable 63 percent increase in greenfield FDI announcements. The data reflects the region’s resilience and attractiveness to foreign investors amid global economic shifts.