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The UAE aims to triple foreign direct investment (FDI) to AED 2.2 tn by 2031 under a new national investment strategy, Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum said on X. The strategy was unveiled on the sidelines of the 2024 UAE Government Annual Meetings, which are on their final day in Abu Dhabi.
This is a big boost from earlier targets: The UAE had initially aimed for AED 550 bn in foreign investment by 2031, with plans to scale that up to AED 1 tn by 2051.
What we know: The strategy targets priority sectors like advanced manufacturing and renewable energy, and will aim to expand FDI in existing projects, strengthen international partnerships, enhance investor relations, and boost the UAE’s competitiveness, according to a Dubai Media Office statement.
How we’re faring so far: The UAE attracted around USD 30.7 bn (AED 112.6 bn) of FDI inflows for greenfield projects in 2023, representing 45.4% of total foreign direct investment inflows in the region, according to UNCTAD data. It also led with USD 225 bn (AED 826.3 bn) in cumulative FDI balances, comprising 21% of total incoming balances across the region. The country ranked first globally in attracting FDI relative to its GDP in 2023.
