The International Trade Council observes recent developments in the foreign direct investment (FDI) landscape in the Middle East and North Africa (MENA) region. As reported by the United Nations Conference on Trade and Development's (UNCTAD) 2023 World Investment Report, the United Arab Emirates (UAE) has achieved a historic milestone in FDI inflow, while Saudi Arabia encountered a decline.
In 2022, the UAE experienced its highest-ever FDI inflow of nearly $23 billion, reflecting a commendable 10% annual increase from the preceding year. Israel and the UAE led the MENA region in FDI inflow, securing the 15th and 16th positions globally, respectively.
Contrastingly, Saudi Arabia observed a 59% decrease in FDI inflow in 2022, recording nearly $7.9 billion. These figures were unveiled in the UNCTAD report released on Wednesday.
The UAE's accomplishment underscores its resilience and attractiveness as an investment destination, even in the face of global challenges. The Prime Minister of the UAE and ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, highlighted the nation's economic achievement in the midst of a 12% dip in global FDI movement.
He stated, “The UAE has achieved the highest foreign direct investment inflows in its history in 2022, reaching AED 84 billion ($23 billion) despite a 12% decline in global FDI movement,” as reported by the Emirates News Agency.
The UNCTAD report revealed that Israel secured approximately $28 billion in FDI inflows, securing the 15th place globally, and the UAE closely followed with around $23 billion.
Saluting the accomplishments of the UAE and Israel, the International Trade Council underscores the significance of fostering an environment that encourages international investment and collaboration, contributing to the global economic growth and stability.
