Page 323 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 3:42 PM His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade Statement on the UNCTAD FDI Report 2024

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of
State for Foreign Trade Statement on the UNCTAD FDI Report

2024

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“The UAE continues to reap the rewards of opening our economy to the world. In 2023, we attracted a total of
US$30.7 billion, a world-leading increase of 35 percent over 2022 – and a sharp contrast to the 2 percent global
decline in investment flows. These figures, which were revealed in a new report by UNCTAD, have enabled the UAE
to advance five places to 11th in the global rankings for FDI attraction while confirming our number one position in
the Arab World, accounting for 45.4 percent of the total FDI inflows into the region.
“This is no accident. The UAE continues to take confident steps in pursuit of economic diversification and long-term,
sustainable growth, which includes the ongoing development of our business ecosystem, our laws and regulations,
and our global trade network to ensure we are a foremost destination for overseas investors and entrepreneurs.
Embodying these ambitions is the NextGen FDI initiative, which was launched in 2022 to attract pioneering
companies in future-focused industries from across the world, and has succeeded in welcoming enterprises
specializing in robotics, agri-tech, hybrid aviation and concentrated solar power.
“In addition, our Comprehensive Economic Partnership Agreements program, which we launched in 2021 as a pillar
of our efforts to increase our non-oil foreign trade to AED4 trillion by 2031, has delivered preferential market access
to a quarter of the world's population for UAE-based exporters, and consolidated the UAE's status as a global trade
hub.
“Importantly, the UNCTAD figures aren't just about FDI attraction. They confirm that we are also the 16th-largest
source of outbound investment globally, and the largest in the Arab World. In 2023, we committed US$22.3 billion to
projects around the world, which underlines our growing importance to the global economy – and, in particular, to
the long-term economic ambitions of the developing world. We remain steadfast in our belief that stability and
prosperity go hand in hand, and we look forward to playing a leading role in economic development in the years
ahead.”

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