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commercial activities, information technology, real estate, food, beverages, and space.

Meanwhile, American FDI in the UAE market reached nearly USD 4.3 billion in 2021.

Moreover, the UAE is also the largest Arab trading partner of the United States. The
USA is among the top three global trading partners of the UAE as of 2023, with growing
volume of exports from 40 US states to the UAE last year, supporting more than
166,000 jobs in the US. The non-oil trade between the two countries grew by 20 per

cent in 2023 to reach USD 40 billion, with more than 50 per cent growth compared to
that of the pre-pandemic levels in 2019.

Competitive indicators & economic incentives support the growth of partnership
at the private sector level

H.E. Bin Touq called on the American private sector to take advantage of the
competitive economic environment and opportunities offered by the UAE. The country
provides all growth enablers to investors, entrepreneurs and talent in terms of
infrastructure, technology and legislation, its strategic location, and its ability to serve as
a link for business communities with the ever-growing global South. He noted that the

UAE market is an important destination for the American business community.
Currently, 16,000 American citizens hold business licenses within the country, in diverse
sectors such as finance, insurance, trade, real estate, manufacturing industries,

scientific and technical activities, transport, storage, mining, etc.

In addition, H.E. reviewed the highlights of the UAE economy, emphasizing that it is one
of the region's most diversified, competitive, and opportunity-generating economies,
especially in new and future sectors. Many non-oil and fast-growing sectors today
contribute to supporting the national GDP, such as health care, finance, hospitality,

logistics, agricultural, financial technology, and e-commerce. FDI also remains one of
the nation's most important growth drivers.

In 2022, the UAE achieved its highest FDI inflows at USD 22.7 billion, up 10 per cent
from 2021, in a first in the region. The country recorded the second highest increase in

the number of new FDI projects in 2023 at 28 per cent and ranked first globally in the
Global Entrepreneurship Monitor Report 2024, maintaining its prestigious global position
in attracting investments and entrepreneurial projects.

https://www.zawya.com/en/press-release/events-and-conferences/minister-of-economy-
participates-in-salt-iconnections-forum-xvdaoama