UAE's new FDI strategy targets Dh2.2 trillion by 2031

Abu Dhabi: The UAE on Tuesday approved its new Investment Strategy to triple its cumulative foreign direct investment (FDI) to Dh2.2 trillion by 2031. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the new strategy on his X account.

His Highness Sheikh Mohammed remarked: “Clear goals lead to great achievements. The UAE’s remarkable surge of 35 per cent in foreign direct investment inflows to Dh112.6 billion in 2023, despite a global decline, affirms the success of our strategies and the high level of international confidence in our nation.”

His Highness Sheikh Mohammed noted: "The National Investment Strategy 2031 builds on achievements driven by carefully crafted plans, programmes, and initiatives aimed at positioning the UAE as a global strategic investment hub."

The country advanced five positions to rank 11th globally in FDI attraction, according to the UNCTAD report. In terms of cumulative FDI balance, Mohamed bin Hassan Al Suwaidi, Minister of Investment, noted that the UAE has significantly outpaced global growth rates over the past decade. From 2013 to 2023, the UAE’s FDI balance increased by 150 per cent, far exceeding the global average growth rate of 97 per cent.

The UAE's new foreign direct investment (FDI) strategy aims to significantly boost FDI by 2031, targeting key sectors like advanced manufacturing and renewable energy.

The strategy seeks to double cumulative FDI to Dh1.3 trillion (30 per cent of national investment volume) and triple the cumulative FDI balance to Dh2.2 trillion by 2031, which will be achieved by attracting new investments in priority sectors, expanding FDI in existing projects, strengthening international partnerships, enhancing investor relations, and boosting the UAE's overall competitiveness.