UAE Attracts More Foreign Investment in 2023

 


The United Arab Emirates saw major growth in foreign direct investment last year. According to a new UN report, the number of new investment projects in the UAE rose by 33% compared to 2022. 


This type of investment is called "greenfield" investment. It means when a company builds a new operation or factory in another country. The UAE had the second highest number of new greenfield projects globally in 2023. Over 1,300 new facilities were announced.


As a result of this growth, foreign capital invested in the UAE economy grew substantially. Total investment flowing into the country reached $30.7 billion, up 35% from the previous year. Several important business sectors drove this increase, like technology and services.  


The UAE climbed two spots to be a top five destination for new investment sites. It attracted about 60% of all foreign investment to Gulf countries, which more than doubled to $37 billion total. 


Key sectors attracting investors included business services, software and IT. These created many new jobs and brought large amounts of capital into the country. Other growing areas were finance, manufacturing and transportation.


The strong foreign interest shows confidence in the UAE economy and its continued efforts to diversify. It is establishing itself as a regional hub for various industries and skilled employment. This foreign capital will support further development.

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