Page 22 - AAE PR REPORT December 2023

12/29/23, 9:58 AM UAE Financial Markets Reflect Prosperity of National Economy in 2023 ‹ Al Wathan Newspaper
UAE Financial Markets Reflect

Prosperity of National Economy in

2023 ‹ Al Wathan Newspaper

Published 6 seconds ago on December 29, 2023
By Nadia Barnett

The financial markets of the United Arab Emirates have seen prosperity and rapid growth in the
national economy this year, with its market capitalization exceeding 3.6 trillion dirhams,
equivalent to 406 billion dirhams, by about 13 percent. , reflects the path of prosperity, growth
and prosperity of the national economy, which contributed to strengthening its position in the
market. regionally and globally.

The continued achievements of the local stock markets come amid efforts to double the market
value of the Abu Dhabi and Dubai financial markets, reaching Dh6 trillion in the coming years,
within an integrated strategic plan developed by the Securities, Commodities and Financial
Markets Authority. It aims to contribute to achieving leadership and supporting the development
of the national economy in accordance with the best standards, improving the country's
competitiveness in various indicators, reports and international forums.
According to Emirates News Agency “WAM” monitoring, the market capitalization of stocks
listed on the local financial markets increased by about 12.66%, rising from 3.206 trillion
dirhams at the end of 2022, with 2.624 trillion dirhams distributed to the Abu Dhabi market and
581.9. billion for the Dubai market reached 3.612 trillion dirhams at that time, including the
current, 2.932 trillion for the Abu Dhabi market and 680.7 billion for the Dubai market.

Foreign and corporate procurement

Foreign investors and global investment companies have increased their purchases of local
stocks in the current year, with wide investment opportunities and options to participate in the
strong growth process of the national economy, in addition to the level of attractiveness. Listed
national companies for investment projects of major global and regional companies.

According to WAM's monitoring, institutional investment achieved net purchases in local stocks
over the past 12 months, worth approximately 7 billion dirhams in the January to December

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