UAE among ‘promising investment’ hubs
The UAE ranks among the world’s ‘most promising home economy for investment’ in 2017-19 on the back of investmentfriendly policies and reforms.
dubai — The UAE ranks among the world’s “Most Promising Home Economy for Investment” in 201719 as it moves up in the World Bank’s Doing Business ranking for 2018-21 on the back of liberal and investment-friendly business policies and reforms.
A survey conducted by the United Nations Council for Trade and Development (Unctad) and Investment Promotion Agency (IPA) has ranked the UAE as 13th Most Promising Home Economy for Investment in 2017-19 as worldwide investment flow is projected to grow to $1.85 trillion in 2018 from $1.8 trillion in 2017.
The eighth edition of the Annual Investment Meeting (AIM) — under the theme ‘Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth & Sustainable Development’ and which will take place at the Dubai World Trade Centre from April 9 to 11 — is expected to give a further fillip to the UAE’s attraction as a global investment hub while promoting FDI flow across the GCC.
In 2017, the UAE continued to be a sought-after destination for the high net worth individuals (HNWIs), with more than 5,000 millionaires, mainly from India, Turkey, Saudi Arabia and Nigeria, who have made Dubai as their second home. According to New World Wealth’s report, Dubai was among the world’s top 14 cities — and was the only one from the GCC — where more than 1,000 HNWIs migrated to in 2017.
The flow of investment into the UAE is going to get a further boost as the Emirates prepares to liberalise its foreign investment laws allowing greater foreign ownership in local companies in key sectors.
The UAE International Investors’ Council (UAEIIC) has announced its partnership as official investment partner of with the AIM.
Dawood Shezawi, president of the AIM, said the partnership with UAEIIC would help boost two-way investment into the UAE and outward investment from the UAE — and help the AIM play its role as a promoter of investment flow for development.
According to the World Investment Report 2017, global investment flow declined two per cent to $1.75 trillion in 2016. “Flows to developing economies reached $646 billion in 2016,” the Unctad report shows.
“The flow of outward investment from developing economies registered a one per cent decline to $383 billion, despite a surge of outflows from China, now the second largest investing country in the world,” said the World Investment Report 2017.
“A modest recovery in global FDI flows is forecast for 2017, although flows are expected to remain well below their peak of 2007. A combined upturn of economic growth in major regions and improved corporate profits will boost business confidence, and consequently MNEs’ appetite to invest,” said the World Investment Report 2017.
With global FDI flows expected to increase by about five per cent in 2017 to almost $1.8 trillion, the
[The AIM will] help UAE investors find the right investment projects in different countries and help Emirati investors to benefit from the opportunities Jamal Al Jarwan, Secretary-general of the UAE International Investors’ Council
UAEIIC has decided to strengthen its engagement in trade and investment promotional activities to boost two-way investment.
Jamal Al Jarwan, secretary-general of the UAEIIC, said the organisation would take firm steps to be the voice of the UAE to invest abroad, as it represents a national umbrella of great importance for the development of national investments issued in view of its role in communication and coordination with government agencies to support, protect, promote and expand the interests and objectives of UAE investors abroad and in the interest of the national economy.
“The current global economic situation offers a greater opportunity for international investors when asset prices become very attractive making acquisition less costly and help investors attain a higher and faster return on investment,” Al Jarwan said.
“In this regard, we find the AIM a perfect fit to attract investment and promote economic opportunities prevalent in the GCC region for global investors, while at the same time helping UAE investors find the right investment projects in different countries and help Emirati investors to benefit from the opportunities.”
— issacjohn@khaleejtimes.com