UAE's FDI jumped to $117.9bln by the end of 2016 from $109bln by the end of 201
DUBAI -- The Annual Investment Meeting, AIM, will take place at the Dubai World Trade Centre from April 9th -11th, 2018. The conference will discuss issues related to investment and development.
The Cumulative Foreign Direct Investment, FDI, of the UAE jumped to US$117.9 billion by the end of 2016 from US$109 billion by the end of 2015, a growth of 8.2 percent supported by increasing investments in areas of transformational and other heavy industries, according to recent reports.
According to the 2017 Global Investment Report published by the United Nation’s Council on Trade and Development, UNCTAD, the UAE is the 11th largest FDI recipient in Asia. Its main investors are the UK, Japan and Hong Kong. In 2016, the UAE attracted US$8.9 billion, a 1.7 percent increase on 2015, with the political and economic stability of the country attracting investors. The bulk of FDI is concentrated in retail/wholesale trading, real-estates, insurance and manufacturing industry sectors.
AIM is a three-day FDI focused event, an initiative of the UAE Ministry of Economy, held under the patronage of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.
With a theme, 'Linking developed and emerging markets through FDI: Partnerships for inclusive growth and sustainable development', AIM is expected to draw more than 20,000 investors, delegates and trade visitors across the event.
"FDI can be used as a vehicle to achieve sustainable economic growth. In the UAE, we are continuously working to adopt policies and structures that will ultimately provide us with the right environment to not only be able to attract FDI, but also to retain its positive effects and desired spillovers," Sultan bin Saeed Al Mansouri, Minister of Economy, said in a statement to announce the 8th edition of the AIM Congress.
"It is now widely understood that sustainable development is not necessarily a consequence of FDI. In fact, FDI can have negative consequences on sustainable development, if the right policies and frameworks are not laid out accordingly."World Bank released its annual Doing Business Report 2018 that showed the UAE jumped to 21st rank out of 190 countries, advancing 5 positions from 26th in the 2017 Doing Business Report.
"With the theme Linking Developed and Emerging Markets: Partnerships for Inclusive Growth and Sustainable Development, the 8th edition of the Annual Investment Meeting will be dedicated to discovering how such partnerships between developed and emerging markets can be utilised to strengthen our shared goals, through responsible FDI, as we work to create solutions for today’s problems, while ensuring that future generations have the ability to live in a thriving and socially and economically responsible world, abundant with resources and opportunities for all," Al Mansouri added.
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