Page 327 - MOE ENGLISH PR REPORT - JUNE 2024

according to the World Investment Report 2024 released yesterday by the United
Nations Conference on Trade and Development (UNCTAD),” Al Zeyoudi said.

“The figures in the report confirm that the UAE is continuing to move in the right
direction to strengthen its position as a preferred global destination for foreign
investors seeking a growth-stimulating business environment and a haven for
ambitious entrepreneurs and creative thinkers seeking to transform their ideas

and aspirations into tangible reality under the qualitative privileges provided by
the State through its world-class infrastructure, flexible legislation and advanced
technology, and its initiatives that stimulate business in various sectors and
economic activities,” he added.

The minister cited in this regard the NextGenFDI initiative, the first integrated
package to facilitate company formation and offer banking, visa and real estate
services in a streamlined manner through a whole-of-government approach.

He also pointed to the Comprehensive Economic Partnership Agreements (CEPA)
programme that the UAE has been implementing since the end of 2021, and
under which the UAE has concluded agreements with countries of strategic
investment and trade importance on the map of the global economy, with the
aim of stimulating trade and investment flows between promising markets with
about a quarter of the world's population."

He added: “The value of foreign direct investment that the UAE was able to
attract in 2023, amounting to $30.7 billion, is equivalent to about three times that
of its closest competitors in the Middle East. And therefore the country has been

able to maintain its top position as the most attractive country for investment in
the Arab world and regionally with a clear superiority, where it accounted for
45.4% of the total FDI inflows to the Arab countries amounting to $67.6 billion,
and 47.1% of the total inflows to West Asia amounting to $65.2 billion, and also
about 38.6% of the total foreign direct investment inflows to the Middle East and
North Africa region amounting to $79.5 billion in 2023.”

Al Zeyoudi pointed out that the UNCTAD data on FDI inflows and outflows
confirms that the UAE continues to make steady and confident progress on the
path towards economic diversification and sustainable growth.

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