Latest news with #MinistryofInvestment
TECHx
an hour ago
- Business
- TECHx
UAE Tops in Attracting AI and Skilled Talent in 2024
Home » Latest news » UAE Tops in Attracting AI and Skilled Talent in 2024 The UAE tops the Middle East and North Africa region as a leading destination for foreign direct investment (FDI), ranking 10th globally in 2024, according to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2025. The country achieved AED 167.6 billion (USD 45.6 billion) in FDI inflows, marking an unprecedented growth amid a challenging global landscape. The UAE Foreign Direct Investment Report 2025, issued by the Ministry of Investment, revealed the nation's strong performance in attracting capital across strategic sectors. Despite global uncertainties, the UAE maintained its position as a preferred destination for investors. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, announced that the country accounted for 37% of all FDI inflows into the region in 2024. He highlighted that out of every $100 invested in the region, $37 comes to the UAE. The country also ranked second globally in the number of newly announced FDI projects, following the United States. The report showed a 48% increase in FDI inflows compared to the previous year. The UAE's goal is to attract AED 1.3 trillion in FDI over the next six years, further boosting its economy. Despite a global slowdown in greenfield FDI projects, the UAE recorded a 2.8% growth, reaching AED 53.3 billion (USD 14.5 billion) in announced greenfield investments. It ranked second globally with 1,369 new greenfield projects announced in 2024. The Ministry of Investment leads efforts to create a flexible and competitive environment for global capital. It works closely with federal and local authorities, investment agencies, and private sector partners to develop policies that enhance the UAE's attractiveness as an investment hub. Annual FDI inflows have risen steadily from AED 31.6 billion (USD 8.6 billion) in 2015 to AED 167.6 billion in 2024. The cumulative FDI stock reached USD 270.6 billion, reflecting a compound annual growth rate of 10.5% over nine years. Mohamed Hassan Alsuwaidi, Minister of Investment, stated that this FDI growth reflects the UAE's strategic vision and long-term leadership. He added that the ministry remains committed to providing a competitive business environment and regulatory framework aligned with national priorities. Key economic sectors driving FDI include software and IT services (11.5%), business services (9.7%), renewable energy (9.3%), coal, oil, and gas (9%), and real estate (7.8%). The energy sector attracted AED 4.8 billion (USD 1.3 billion) in greenfield FDI, supporting the UAE's goal to triple renewable energy production by 2030. The UAE's policies on full foreign ownership in mainland companies, a 9% corporate tax rate, streamlined licensing, and legal protections have fostered investor confidence. The Dubai International Arbitration Centre strengthens investor protection further. The country also ranks fifth globally in attracting highly skilled talent, according to the 2024 Global Talent Competitiveness Index by INSEAD. It ranks third in attracting AI talent, based on Stanford University's 2024 AI Index. The UAE's global partnerships support its investment environment, with 21 Comprehensive Economic Partnership Agreements and 120 bilateral investment treaties in place. Digital transformation investments continue to grow. For example, the USD 1.5 billion joint venture between Microsoft and Abu Dhabi-based G42 aims to advance AI capabilities and innovation. The National Investment Strategy 2031 targets doubling annual FDI inflows by 2031, aiming for AED 2.2 trillion in cumulative FDI. It focuses on priority sectors such as advanced manufacturing, renewable energy, financial services, and IT, emphasizing sustainability and innovation. Key Points: UAE attracted AED 167.6 billion in FDI inflows in 2024, ranking 10th globally. The country accounted for 37% of regional FDI inflows and ranked 2nd in new FDI projects. The National Investment Strategy 2031 aims to double FDI inflows, focusing on key sectors and innovation. This report confirms the UAE's position as a stable and attractive destination for foreign direct investment, supported by strong policies, strategic partnerships, and ongoing economic diversification. Source: Dubai Media Office
Borneo Post
2 hours ago
- Business
- Borneo Post
Malaysia posts 17th consecutive month of trade growth
In a statement today, Miti says total trade increased by 2.6 per cent to reach RM252.48 billion, setting a new record for the highest monthly value ever posted in May. – Bernama photo KUCHING (June 20): Malaysia's trade performance continued its upward momentum last month, marking the 17th consecutive month of year-on-year growth since January last year, according to the Ministry of Investment, Trade and Industry (Miti). In a statement today, the ministry said total trade increased by 2.6 per cent to reach RM252.48 billion, setting a new record for the highest monthly value ever posted in May. 'Exports recorded a slight decrease of 1.1 per cent to RM126.62 billion, while imports grew by 6.6 per cent to RM125.86 billion. 'Malaysia also maintained a trade surplus for the 61st consecutive month since May 2020, amounting to RM766.3 million,' it added. Miti pointed out that exports of electrical and electronic (E&E) products continued to show resilient performance last month, registering an increase of nearly RM4 billion. 'This is consistent with the World Semiconductor Trade Statistics (WSTS) forecast of an 11.2 per cent increase in global semiconductor sales this year.' It stated that Malaysia, as a key player in the global semiconductor supply chain, stands to benefit significantly from this anticipated expansion. 'Nevertheless, potential challenges remain, notably the uncertainties in global economic conditions. While the sector's outlook remains positive, proactive policy responses will be crucial to sustain this growth momentum,' it added. 'By destination, exports to key trading partners including the United States and the European Union recorded robust growth, while exports to Taiwan not only expanded but also attained a new record-high.' The ministry said exports to Free Trade Agreement (FTA) partners, notably the United Kingdom and New Zealand, also recorded increases, primarily due to higher shipments of palm oil-based manufactured products. For the first five months of this year, it noted that trade, exports, and imports achieved their highest cumulative value on record. 'Trade rose 6.2 per cent to RM1.23 trillion compared to the corresponding period last year, with exports expanding 5.5 per cent to RM638.48 billion and imports up by 6.9 per cent to RM591.54 billion. 'Trade surplus stood at RM46.94 billion, a slip of 9.4 per cent,' it added. Recognising the impact of global trade uncertainties, Miti said together with the Malaysian External Trade Development Corp (Matrade), they are ramping up efforts to build resilience in the trade ecosystem. 'These strategic initiatives are also contributing to Malaysia's growing global competitiveness. In the World Competitiveness Ranking (WCR) 2025 published recently, Malaysia advanced 11 spots to the 23rd position among 69 economies. 'This marked the country's strongest performance since 2020 and signalled renewed investors' confidence in Malaysia's economic governance and policy direction.' malaysia Miti trade performance
Gulf Today
4 hours ago
- Business
- Gulf Today
UAE attracts $45.6b in FDI in 2024, ranks 10th globally
The UAE ranked 10th globally as a leading destination for inbound foreign direct investment (FDI) in 2024, achieving an unprecedented Dhs167.6 billion ($45.6 billion in FDI inflows, according to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2025. The UAE Foreign Direct Investment Report 2025, issued by the Ministry of Investment, highlights the country's exceptional performance and unmatched success in attracting capital across strategic sectors, reinforcing its status as a premier global investment destination despite an unstable global landscape. His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, declared that, under the visionary leadership of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, the UAE's tenth global ranking in FDI inflows for 2024 confirms its status as a land of boundless opportunities and the premier destination for innovative businesses and bold ideas. Sheikh Mohammed Bin Rashid Al Maktoum said: 'In an international vote of confidence in the UAE's economy, the latest report by the United Nations Conference on Trade and Development (UNCTAD) revealed that the UAE attracted Dhs167 billion ($45 billion) in foreign direct investment over the past year, marking a 48% growth compared to the previous year.' His Highness added: 'The UAE accounted for 37% of all foreign direct investment inflows into the region. Out of every $100 invested in the region, $37 comes to the UAE. The country also ranked second globally, after the United States, in the number of newly announced foreign direct investment projects. Our next goal is to attract Dhs1.3 trillion in foreign direct investment over the next six years, God willing.' His Highness continued: 'Our foundation is strong, our future is promising, and our focus on our goals is crystal clear. Our message is simple: development is the key to stability, and the economy is the most important policy.' Despite a global slowdown in greenfield FDI project growth to 0.8%, the UAE achieved a remarkable 2.8% growth, solidifying its position as a key destination for investment flows. Total capital for announced greenfield FDI projects in 2024 reached Dhs53.3 billion ($14.5 billion). The UAE ranked second globally, after the United States, in attracting greenfield FDI projects, with 1,369 new projects announced in 2024. The Ministry of Investment leads these efforts by enabling investment in key sectors, providing a flexible and competitive environment for global capital, and acting as a trusted partner for international investors. The ministry continues close collaboration with federal and local government entities, investment promotion agencies, private sector companies, and international partners to develop innovative policies, enhance the UAE's investment value proposition, and unlock new avenues for long-term economic growth. Annual FDI inflows rose from Dhs31.6 ($ 8.6 billion) in 2015 to Dhs167.6 billion ($45.6 billion) in 2024, with cumulative FDI stock reaching $270.6 billion, reflecting a 10.5% compound annual growth rate from 2015 to 2024. Mohamed Hassan Alsuwaidi, Minister of Investment, stated: 'Recording this unprecedented level of FDI inflows to the UAE is an achievement that reflects the strategic choices made by our wise leadership and its long-term vision to establish the UAE as a leading global investment destination. The Ministry of Investment is committed to developing a comprehensive regulatory and legislative framework aligned with our national priorities, meeting investors' needs, and providing a competitive business environment that attracts global capital.' He added: 'The UAE's investment ecosystem has become a global model, thanks to its stability, transparency, trade openness, and ease of doing business. Through the National Investment Strategy 2031, we continue to set ambitious goals to cement the UAE's position as a leading global FDI destination. We provide a clear pathway to drive sustainable growth, double investment opportunities, diversify priority sectors, and open new horizons for global companies seeking innovation and expansion in future markets.' The strong performance of key economic sectors boosted the upward trajectory of announced greenfield FDI projects in the UAE. Software and IT services led announced FDI greenfield project values (11.5%), followed by business services (9.7%), renewable energy (9.3%), coal, oil, and gas (9%), and real estate (7.8%). The energy sector attracted Dhs4.8 billion USD 1.3 billion in greenfield FDI, advancing the UAE's national goal to triple renewable energy production capacity by 2030. The UAE's supportive investment policies and robust strategic partnerships have solidified its position as a primary destination for foreign capital in the region, capturing approximately 37% of the region's FDI inflows in 2024. The UAE continues to attract top global talent, driven by policies supporting its investment strategy, including full foreign ownership in mainland companies, a competitive 9% corporate tax rate, streamlined licensing procedures, and enhanced legal protections. These policies have fostered a favorable investment climate, while strong legal frameworks, such as the Dubai International Arbitration Centre, have bolstered investor confidence and safeguarded their interests. The UAE ranks fifth globally in attracting highly skilled talent (per the 2024 Global Talent Competitiveness Index by INSEAD) and third in attracting AI talent (per Stanford University's 2024 AI Index), reinforcing its status as a leading hub for professionals, entrepreneurs, and innovators. Global partnerships are another key driver of investment attraction, with 21 Comprehensive Economic Partnership Agreements and 120 bilateral investment treaties clearly supporting the investment landscape. This momentum is underpinned by the UAE's significant investments in digital transformation, exemplified by the $1.5 billion joint venture between Microsoft and Abu Dhabi-based G42 to advance AI capabilities and set new standards for innovation. The National Investment Strategy 2031 aims to double annual FDI inflows by 2031, targeting Dhs2.2 trillion cumulative FDI by 2031, as per the National Investment Strategy (NIS). The strategy focuses on priority sectors such as advanced manufacturing, renewable energy, financial services, and IT, emphasising sustainability and innovation. Initiatives under this strategy aim to cement the UAE's global leadership in economic diversification and technological advancement. WAM
Arabian Post
5 hours ago
- Business
- Arabian Post
UAE Secures Tenth Spot in World FDI Rankings
The United Arab Emirates drew AED 167.6 billion in foreign direct investment in 2024, climbing to tenth position globally, according to the UN Conference on Trade and Development's World Investment Report 2025. This 48.7 percent surge from 2023 cements the UAE as a top-tier destination for international capital, with greenfield projects playing a central role. Foreign investors backed 1,369 new greenfield ventures worth AED 53.3 billion, placing the UAE second globally in announced projects, trailing only the United States. Remarkably, nearly 37 percent of total FDI into the Middle East went to the UAE. Sheikh Mohammed bin Rashid Al Maktoum described the achievement as 'an international vote of confidence in the UAE's economy', adding that AED 37 of every AED 100 invested in the region now enters the UAE. He attributed the growth to a unified national development agenda under President Sheikh Mohamed bin Zayed Al Nahyan, underpinned by strategic policy clarity and government cohesion. ADVERTISEMENT The UAE's cumulative FDI stock has reached AED 994.9 billion, reflecting a compound annual growth rate of 10.5 percent since 2015. This growth trajectory builds on a decade-long expansion, with inflows growing from AED 31.6 billion in 2015 to AED 167.6 billion in 2024. A diverse range of sectors attracted foreign capital. Software and IT services projects led greenfield values with 11.5 percent, followed by business services, renewable energy, oil and gas, and real estate. Energy-specific inflows to renewable initiatives reached AED 4.8 billion, helping drive a national target to triple clean-energy capacity by 2030. The Ministry of Investment, established in 2023 with Mohamed Hassan Al Suwaidi as minister, was credited with orchestrating this outcome through regulatory reforms and global outreach. Under its stewardship, clear legislation and incentives—including full foreign-ownership rights, a standard corporate tax of 9 percent, and streamlined licensing—have enhanced the investment environment. Global rankings reflect these advances: the UAE placed fifth in the 2024 Global Talent Competitiveness Index and third in the 2024 Stanford AI Index for AI talent attraction. The nation has also forged 21 Comprehensive Economic Partnership Agreements and 120 bilateral investment treaties, further easing entry for international investors. National strategy for the next decade envisions doubling cumulative FDI to AED 1.3 trillion by 2031, aligned with the National Investment Strategy 2031 which prioritises sustainable growth through sector diversification. Initiatives focus on attracting innovation and green investments while scaling existing operations. Despite a global slowdown in productive FDI—with global flows down 11 percent adjusted for conduit economies—the UAE has charted a positive 2.8 percent rise in greenfield projects, underscoring its resilience. Legal insight from White & Case points to ongoing sector-specific reforms that will deepen the FDI ecosystem, including possible relaxation of onshore investment restrictions and expansion of free zone offerings.
Malaysian Reserve
6 hours ago
- Business
- Malaysian Reserve
MITI: Malaysia's trade up 2.6% to RM252.48b in May
KUALA LUMPUR — Malaysia's trade increased by 2.6 per cent in May 2025 to reach RM252.48 billion, marking the 17th consecutive month of year-on-year growth since January 2024, said the Ministry of Investment, Trade and Industry. In a statement today, it said exports recorded a slight decrease of 1.1 per cent to RM126.62 billion, while imports grew 6.6 per cent to RM125.86 billion. Trade surplus for the month stood at RM766.3 million, maintaining a trade surplus for the 61st consecutive month since May 2020. The ministry noted that exports of electrical and electronics (E&E) products continued to show resilient performance, registering an increase of nearly RM4 billion — consistent with the World Semiconductor Trade Statistics forecast of an 11.2 per cent increase in global semiconductor sales in 2025. 'As a key player in the global semiconductor supply chain, Malaysia stands to benefit significantly from this anticipated expansion. 'Nevertheless, potential challenges remain, notably the uncertainties in global economic conditions. While the sector's outlook remains positive, proactive policy responses will be crucial to sustain this growth momentum,' it said. According to MITI, trade, exports and imports achieved their highest cumulative value on record for the January to May 2025 period, with trade growing 6.2 per cent to RM1.23 trillion compared to the corresponding period in 2024. Exports expanded 5.5 per cent to RM638.48 billion and imports rose 6.9 per cent to RM591.54 billion, while the trade surplus slipped 9.4 per cent to RM46.94 billion. The ministry noted that exports to key trading partners, including the United States and the European Union recorded robust growth, while exports to Taiwan not only expanded but also attained a new record high. 'Exports to Free Trade Agreement (FTA) partners, notably the United Kingdom and New Zealand also recorded increases, primarily due to higher shipments of palm oil-based manufactured products,' it added. — BERNAMA
