The UNCTAD’s World Investment Report 2022 ranked the UAE as the leading nation in the Arab region and 19th in the world in terms of attracting quality foreign direct investments (FDIs). The report is proof of how far the UAE has come in its efforts to remain a leading investment hub vital to its economic diversification agenda.
It pays that many of the major programs and policies are geared towards sustaining a favorable ecosystem for local, regional and global investors to flourish. In doing so, the nation does not only target to support owners of multinational corporations, but seeks to entice entrepreneurs and bright minds behind the most innovative startups.
One such relevant initiative was announced in 2021, when the UAE Government revealed a plan to make the country home to 20 unicorns - valued at over $1 billion - by 2031. This has levelled up the game in terms of promoting entrepreneurship and innovation and opened up new opportunities that could further drive the country’s stature on the global investment stage.
These programs serve as among the UAE’s strengths as a world-class hub for businesses and investors.
Build the sentiments
The commitment by the country - the Arab region’s second-largest economy - to sustainability and technology is key to a strong economic performance, an important consideration and which is helping drive positive market sentiments.
Strong oil prices, improved oil production and the effective pandemic-related actions have played a part in its recent economic gains as well, in addition to Expo 2020 Dubai that had helped boost industries such as tourism, hospitality, logistics and real estate.
During the first three months of 2022 alone, the UAE Central Bank announced the country posted an 8.2 per cent growth. The UAE is expected to finish the year stronger as it implements more relevant reforms. With timely actions, the World Bank named the UAE as one of the nations to quickly reach pre-pandemic levels.
With the government’s increasing emphasis on green economic solutions, higher growth in sectors such as climate, transport technology, food, and energy may be on the horizon.
Awaiting the next 50 year achievements
The UAE continues to ramp up to be one of the 10 biggest global investment destinations by 2030. Several factors will make a huge difference in this regard, including its world-class infrastructure, public-private partnerships, increased economic participation of Emirati nationals, and many more.
The country is gearing for $150 billion as inward foreign investments and become one of the world’s best nations in line with UAE Centennial 2071. As it will accomplish more in the next 50 years, the UAE steadily moves towards fulfilling its many ambitions.