2023-07-05 16:11:39
ABU DHABI, 5th July, 2020 (WAM) — His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the annual report issued by the United Nations Conference on Trade and Development (UNCTAD) provides an in-depth look at global and regional investment trends, as well as developments in national and international investment policies. He explained that the information is derived from more than 200 economies around the world, which makes UNCTAD the most comprehensive and reliable source of data on global investment flows.
This came during a speech by His Excellency on the sidelines of the press conference to launch the “UNCTAD” Global Investment Report 2022 today in the Emirate of Abu Dhabi, in the presence of His Excellency Ahmed Jassim Al Zaabi, Chairman of the Department of Economic Development in Abu Dhabi, and a group of officials in the investment sector and the media.
His Excellency added, “I am pleased to say that this year’s report carries very good news for the UAE, as it reveals unprecedented records in the country’s history in terms of foreign direct investment flows that we received in 2022, explaining that the country has attracted $23 billion in foreign direct investment in In 2022, an increase of 10% compared to 2021, which is the highest number ever recorded by the country in one year.
His Excellency explained that this record puts the UAE in the 16th rank in the global ranking for attracting foreign direct investment, following it rose six places compared to 2021, and with regard to foreign investment in new projects, His Excellency said that the UAE ranked fourth in the world, following the United States of America and the United Kingdom. and India.
“The 997 new investment projects announced in 2022 represent a record year-on-year growth of 80%, compared to the previous year,” he said, as the country maintained its regional position as the most attractive destination for foreign direct investment in the GCC countries. Gulf countries, with a share of 61% of total global investment flows to the region in 2022.
He added that the records achieved by the UAE in this year’s World Investment Report translate the success achieved by the country thanks to the forward-looking vision of the wise leadership and its keenness to transform the country into an international business center and a preferred global destination where creative ideas meet and mix with capitals and investments from different countries of the world.
He stressed that these figures reflect the record recovery witnessed by the national economy and its full recovery from the effects of the global pandemic, and the country exceeded the rates recorded before the pandemic as a result of the efforts implemented by the country regarding the proactive response to the challenges of the pandemic.
He added that the records recorded by the UAE in the report this year carry a clear message that the global business community has confidence in the UAE’s economy, its institutions, policies and legislative environment, and its commitment to achieving sustainable growth.
His Excellency Dr. Thani Al-Zeyoudi said, “The transformation of the UAE into a global economic power is a testament to its ability to reconcile ambition and hard work. Within 52 years, since the founding of the state, the UAE economy has multiplied 20 times, which has led to the consolidation of the country’s position on the map of the global economy.” An international business center that enjoys modernity, diversity and multinationalism.
He added, “Today, the UAE is considered a beacon of economic resilience and prosperity, as it attracts companies, investors and entrepreneurs from all over the world, and as we continue to move forward, we are looking for new forms of investment and new economic sectors that can be created and developed.”
He pointed to directing efforts towards promoting high-growth sectors such as financial technology, advanced agricultural technologies, health care, e-commerce and advanced manufacturing, as the strategic focus on these promising sectors reflects the evolving needs of the global economy, while continuing to continuously enhance the flexibility of the national economy and achieve self-sufficiency. in some areas.
His Excellency said that the UAE is not just a preferred global destination for the flow of investments and capital. The country is also one of the largest global investors, and is always keen to find opportunities, build capacities and support development in various parts of the world.
He pointed to an increase in UAE investment flows abroad by 10% in 2022 to reach $25 billion, which makes the UAE the 15th largest global investor, and an important supporter and catalyst for fair and inclusive growth around the world.
Within the framework of the country’s hosting of “Cop28”, Al-Zeyoudi said, “The UAE’s keenness to inject investments around the world into renewable energy projects is crystallized, in line with the Year of Sustainability and the country’s hosting of “Cop28”, as the country has so far invested $50 billion in clean energy projects in 70 countries across six continents and continue to partner with many countries of the world to increase the capabilities of these countries in this promising sector wherever there is a need for that, in addition to investing our partnership to accelerate clean energy with the United States $ 100 billion to develop 100 gigawatts of clean energy by 2035.
His Excellency pointed to the state’s work to develop an onshore wind farm in Egypt, explaining the capacity of the farm to offset 23.8 million tons of carbon dioxide, and to develop a floating solar power plant with a capacity of 145 megawatts in Indonesia, in addition to developing a unique energy project that will exchange the electricity that works. Solar energy generated in Jordan in exchange for drinking water provided by Israel.
His Excellency said, “We see climate technology and renewable energy companies coming to the UAE in large numbers with the aim of expansion and growth, attracted by a stimulating business environment that accepts creative ideas that focus on the future.” He indicated that the UAE’s ability to attract investments and capital is matched by the state’s desire to pump investment abroad. To create value and achieve sustainable development globally.
“This is why the UAE is currently in a good position to embrace a new era of global investment, especially in sectors that promise strong growth and sustainable impact,” he added, stressing the country’s continuation and commitment to adopting innovation, development and adapting to the ever-changing global economic landscape. To establish itself as the destination of choice for all forms of capital, be it human, technological or financial.
For his part, His Excellency Ahmed Al Zaabi said, “We have witnessed a remarkable boom in foreign direct investments, and we are proud of the increase in foreign direct investments attracted by the UAE by 10% compared to 2021, to reach $23 billion.”
He explained that this growth comes as a result of political stability and a prosperous economic climate, as these factors contributed to strengthening the UAE’s position as an attractive destination for global investments, pointing out that the UAE ranked 22nd globally in foreign direct investment flows in 2021, as the country’s foreign direct investment flows index increased. To the 16th position last year.
His Excellency Al Zaabi praised the country’s leading role as an incubator for investments and new projects, as the UAE became the fourth largest country in the world in incubating new and advanced projects this year, pointing to the announcement of nearly a thousand new and ambitious projects, with a noticeable increase of 84% compared to 2021.
“With the success of the UAE, which opens its doors to investors from all over the world in attracting investments, the country is one of the most prominent and active global investors,” he said, explaining the increase in the flow of UAE investments abroad in 2022 by 10%, to reach $25 billion, in addition to solutions The UAE is ranked 15th, compared to 20th in 2021, among the most prominent countries exporting direct foreign investments that contribute to supporting the rest of the countries to achieve growth, provide millions of jobs, and shape a better future for humanity.
He referred to Abu Dhabi’s effective contribution to the country’s gross domestic product and foreign direct investment flows, as the emirate’s contribution represents more than 60% of the country’s gross domestic product, explaining that the GDP data of the emirate of Abu Dhabi in the first quarter of this year was successful and effective as a result of economic diversification efforts. The GDP growth of the Emirate of Abu Dhabi reached 3.9% in the first quarter compared to the same period last year, and the non-oil GDP increased by 6.1%, bringing the contribution of the non-oil sectors to the emirate’s GDP to regarding 53%, supported by strong performance in key sectors.
Al Zaabi added, “Abu Dhabi is strengthening its position as an attractive investment destination, as it focuses on sectors that have great potential for growth, such as tourism, information and communication technology, health, financial services, and agricultural technology,” stressing that Abu Dhabi will continue its efforts to attract more qualitative investments.
He said, “Updates in the legislative and regulatory environment, allowing 100% foreign ownership, contributed to the consolidation of the privileged position of the Emirate of Abu Dhabi, and Abu Dhabi established its leadership in technological innovation, and these factors led to attracting investments from all over the world, and are still attracting more of them, as shown by many of the indicators.
He added that Abu Dhabi represents a prominent economic center and is witnessing the growth of the “falcon economy”, which is characterized by a pioneering vision, appropriate legislative frameworks and an advanced business system that focuses on supporting and nurturing talent and attracting distinguished investments from all over the world, referring to the year 2022 when the Foreign Direct Investments Information section was classified in the newspaper ” The Financial Times ranked Abu Dhabi in the twelfth position among the best cities of the future, which is considered an appreciation of our firm commitment to progress and innovation. In addition, the “Kearney” index of global cities ranked Abu Dhabi in the ninth place in the world, which establishes its position among the leading centers in the world.
He pointed out that Abu Dhabi embraces three of the largest sovereign funds in the world, and it is also a preferred destination for living and residence, as Abu Dhabi society is characterized by providing the best conditions for the diversity of cultures.
His Excellency Ahmed Al Zaabi said that the Abu Dhabi Investment Office attracts international companies to Abu Dhabi through its offices in Paris, Beijing, Frankfurt, San Francisco, New York, Tel Aviv, London and Seoul, referring to the most prominent international companies that have joined the business community in Abu Dhabi recently, namely Amazon and AWS.
The head of the Department of Economic Development in Abu Dhabi referred to the launch of many initiatives aimed at supporting investors and attracting more investments to Abu Dhabi, pointing to the launch of the Abu Dhabi Industrial Strategy a year ago, and the most important major achievements that have been achieved within the framework of this strategy will be announced soon.
He added, “To achieve the objectives of the industrial strategy, the Abu Dhabi government is investing 10 billion dirhams in six programs to double the size of the industrial sector in Abu Dhabi to 172 billion dirhams by 2031 by supporting industrial financing, enhancing the ease of doing business, and attracting foreign direct investment.”
His Excellency called on investors, decision-makers and the media to attend the World Investment Forum of the United Nations Organization for Trade and Development (UNCTAD) 2023, which will be held in Abu Dhabi next October, and its organization comes before the United Nations Conference on Climate Change COP28, as the World Investment Forum will focus on financing climate-related projects and investment. In it, it provides an opportunity to exchange ideas and views and explore partnerships, stressing their commitment to achieving sustainable prosperity, and efforts will be redoubled to preserve what has been achieved and build on it to achieve more achievements.
For his part, Richard Bullen, Head of the Investment Research Department at UNCTAD, explained the results of international investment trends for 2023, where he said that foreign direct investment in developing countries increased marginally, as the proportion of financial flows increased by 4% in 2022, while projects increased by 7%. , explaining that growth was concentrated in a number of large emerging economies.
He said that there are factors that led to a decline in investments in developing countries, namely the difficulty in attracting investments and the loss of capital, pointing to the focus of the interests of all countries on reducing carbon emissions, working on sustainable energy projects and reducing the cost of debt financing, through partnerships between the public and private sectors and Bank participation.
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