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UAE ranks second in global greenfield FDI projects

By Pramod Kumar
The UAE attracted FDI inflows of $30.7 billion last year, a 35 percent year-on-year growth Wam
The UAE attracted FDI inflows of $30.7 billion last year, a 35 percent year-on-year growth

A 33 percent year-on-year surge in greenfield FDI projects in the UAE catapulted the Emirates up two places to the second spot after the US in 2023.

There are now 1,323 greenfield FDI project announcements, state-run Wam news agency reported, citing the World Investment Report 2024.

The UAE attracted FDI inflows of $30.7 billion last year, compared to $22.7 billion in 2022, a 35 percent growth.

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The report, released by UN Trade and Development, showed that FDI outflows fell 10 percent to $22.3 billion in 2023, compared to $24.8 billion in 2022.

This year the UAE has improved its position in the IMD’s latest World Competitiveness Ranking, rising three places to seventh, up from 10th in 2023 and 12th in 2022.

The list, compiled by the International Institute for Management Development in Switzerland, saw the UAE ranked second for employment and third for international trade. 

In May fDi Markets said that Dubai is the world’s top location for “greenfield” foreign direct investment for the third consecutive year.

Some 1,070 greenfield FDI projects, where a company sets up in a foreign country, building its facilities from the ground up, were reported in Dubai in 2023.

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