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UAE takes second place globally in new FDI projects at 1,323 in 2023

  • Business
  • 20 Jun 2024
  • 12:00 AM

The UAE took the second place after the United States in greenfield FDI project announcements in 2023 at 1,323, an increase of 33 percent compared with 2022, according to the World Investment Report 2024, published today by the UN Trade and Development (UNCTAD). In terms of FDI inflows in 2023, the UAE attracted US$ 30.688 billion compared to US$ 22.737 billion in 2022, a y-o-y growth of 35 percent. The UNCTAD report showed that FDI outflows stood at US$ 22.328 billion compared to US$ 24.833 billion in 2022. FDI outflow stock grew to US$ 262.208 billion in 2023 from US$ 239.880 billion in 2022. The United Arab Emirates gained two places in the ranking of top destinations for greenfield projects, after entering the top five in 2022.