UAE ‘second largest FDI recipient in W Asia’
DUBAI, January 16, 2017
The UAE was the second largest FDI recipient in the West Asia region in 2015, after Turkey, according to the FDI report set to be released by Abu Dhabi Global Market (ADGM) at the upcoming Annual Investment Meeting (AIM) 2017 in Dubai.
“ADGM is pleased to be part of the AIM 2017 that brings together local and international industry leaders, policy makers, and the investment community to share best practices, discuss industry developments and establish new partnerships,” said Richard Teng, chief executive officer of the Financial Services Regulatory Services of ADGM.
“FDI is a key contributor of UAE’s economic and investment growth. As an international financial centre, ADGM works actively on efforts and initiatives that enhance UAE’s and Abu Dhabi’s strength as an attractive financial and investment destination for local and international entities.
“Business and investors can tap on ADGM’s open, conductive and well-regulated platform to connect with various growth sectors and further their business strategies. As an international financial centre, ADGM will continue to play an active role in collaborating and supporting efforts and initiatives that enhance Abu Dhabi’s strength as an attractive financial and investment destination for local and international entities,” he added.
The UAE has adopted measures to create a more favourable environment for foreign investors including the acquisition of properties by foreigners in several emirates. Abu Dhabi has built a diversified economy with more than US$1 trillion of investable assets under management.
According to the FDI Report 2016, the global FDI were forecasted to decline by at least 5 per cent in 2016. The Middle East and Africa has generated $59.8 billion of outward capital investment.
“The UA boasts an environment that encourages foreign corporates to invest locally; low energy costs, the national vision to diversify the economy and the high purchasing power are some of the factors that attract international companies,” commented Dawood Al Shezawi, CEO, AIM’s Organising Committee.
“Hosting AIM, we are happy of the high quality of attendees and their contributions. The spot will be on emerging markets during the 3 days of the event, which will allow us to highlight the strength of these markets and their willingness to welcome new businessmen from abroad. The focus will also be on the competitiveness of national economies,” added Al Shezawi.
“We are happy to have the Abu Dhabi Global Market as our supporter. This collaboration promises to unveil relevant data on the emirate’s experience with the foreign economical players,” he concluded. – TradeArabia News Service