BUSINESS

Foreign direct investment hits $60b

Foreign direct investment in the UAE clocked in at $60 billion (Dh220 billion) over the past five years, while investments made by the country abroad amount to $327 billion, Shaikha Lubna Al Qasimi, Minister of Foreign Trade, said.

Gulf News

May 1, 2012

Wednesday, May 02, 2012

Gulf News

Dubai: Foreign direct investment in the UAE clocked in at $60 billion (Dh220 billion) over the past five years, while investments made by the country abroad amount to $327 billion, Shaikha Lubna Al Qasimi, Minister of Foreign Trade, said yesterday.

In her keynote speech at the Annual Investment Meeting 2012, Shaikha Lubna also said the UAE is the second most attractive Arab country for foreign direct investment (FDI), according to a report by the United Nations Conference on Trade and Development (Unctad).

FDI is a driving force in the globalisation process, which has become a key factor in the modern world economy, Shaikha Lubna said.

She talked about the critical need to enhance the FDI dialogue among emerging markets and industrialised countries.

By Zaher Bitar, Staff Reporter