Latest news with #MohammedbinRashidAlMaktoum
TECHx
37 minutes 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
Gulf Today
4 hours ago
- Business
- Gulf Today
Sheikh Mohammed announces new ministry in UAE government
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai announced the formation of a new ministry in UAE government. Sheikh Mohammed said on X, "Brothers and sisters... after consultation with my brother, the President of the State – may God protect him – and with his approval, we announce today several changes in the UAE government as follows: The name of the Ministry of Economy is changed to "Ministry of Economy and Tourism." A new Ministry of Foreign Trade is being established within the UAE government, and Dr. Thani Al Zeyoudi has been appointed as the Minister of Foreign Trade. The Ministry of Economy will be renamed to the Ministry of Economy and Tourism, and Abdullah Bin Touq Al Marri will lead it. The National Artificial Intelligence System is approved as an advisory member of the Cabinet. "We also announce that the National Artificial Intelligence System will be approved as an advisory member in the Cabinet, the Ministerial Council for Development, and the boards of all federal entities and government companies starting from January 2026. This aims to support decision-making in these councils, conduct real-time analysis of their decisions, provide technical advice, and enhance the efficiency of government policies adopted by these councils across all sectors."
Arabian Post
4 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.
Hi Dubai
7 hours ago
- Business
- Hi Dubai
UAE Ranks 10th Globally as FDI Inflows Reach Record AED 167.6 Billion in 2024
The UAE has secured its place among the world's top ten destinations for foreign direct investment (FDI), attracting a record AED 167.6 billion (USD 45.6 billion) in inflows in 2024, according to the UNCTAD World Investment Report 2025. The achievement marks a 48% year-on-year increase and reinforces the country's standing as a magnet for global capital amid a challenging international landscape. This performance places the UAE tenth globally for total FDI inflows and second worldwide—after the United States—in newly announced greenfield investment projects, with 1,369 initiatives launched in 2024. The country also captured 37% of all FDI entering the Middle East region. His Highness Sheikh Mohammed bin Rashid Al Maktoum credited the milestone to the visionary leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, highlighting the UAE's strong economic foundation and clear development focus. 'Our message is simple: development is the key to stability, and the economy is the most important policy,' he said. Key sectors driving investment include software and IT services, business services, renewable energy, oil and gas, and real estate. Greenfield FDI into the energy sector alone reached AED 4.8 billion (USD 1.3 billion), supporting national goals to expand renewable energy capacity by 2030. The Ministry of Investment attributed the surge to investor-friendly policies such as full foreign ownership, a 9% corporate tax rate, streamlined licensing, and legal reforms. Minister of Investment Mohamed Hassan Alsuwaidi said the UAE's strategic framework and long-term vision continue to position it as a global investment leader. With cumulative FDI stock reaching USD 270.6 billion in 2024 and a 10.5% compound annual growth rate since 2015, the UAE now aims to attract AED 1.3 trillion in FDI by 2030 under its National Investment Strategy. News Source: Emirates News Agency
Hi Dubai
7 hours ago
- Business
- Hi Dubai
Dubai Women Establishment Launches SheLeads Program to Empower Future Female Leaders
Dubai Women Establishment has launched the 'SheLeads' Program for Future Female Leaders under the directives of H.H. Sheikha Manal bint Mohammed bin Rashid Al Maktoum, marking a significant step in strengthening women's leadership in the UAE. Set to run from June 23 to 27, 2025, the programme is being held in partnership with Ashridge Hult International Business School at the Mandarin Oriental Jumeirah, Dubai. It will bring together 25 mid-level female professionals from 13 public and private sector entities. Designed for mid-career professionals, SheLeads focuses on equipping participants with strategic leadership skills to drive impactful change and support national development. The curriculum includes sessions on personal leadership strengths, team-building, strategic thinking, and professional excellence. This initiative reinforces Sheikha Manal's ongoing commitment to empowering Emirati women and enabling their participation in high-level decision-making roles. It also aligns with Dubai Women Establishment's broader goal of cultivating a strong pipeline of future female leaders through world-class training and development programs. SheLeads is the latest addition to the Establishment's portfolio of initiatives aimed at positioning women as key contributors to the UAE's future across all sectors. News Source: Emirates News Agency
