Latest news with #NationalInvestmentStrategy
Hi Dubai
17 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
Gulf Today
3 days ago
- Automotive
- Gulf Today
UAE strengthens its position as a hub for advanced manufacturing
The Ministry of Investment hosted the signing of a landmark joint venture agreement to establish Tellus Power Mena, a new UAE-based electric vehicle (EV) infrastructure manufacturer and technology partner. The Ministry played a pivotal role in facilitating this greenfield investment, reiterating its commitment to attracting future-enabling investment into the UAE while also supporting and promoting the growth of family businesses in the UAE's markets and strengthening the country's position as a regional hub for advanced manufacturing and sustainable technologies, two priority sectors under the National Investment Strategy. The Ministry of Investment was involved from the deal's inception to its conclusion. Its role included introducing business partners, conducting thorough due diligence, and actively supporting the joint venture negotiations. Furthermore, the ministry provided strategic investment guidance and served as a crucial connector, linking the involved parties with relevant government entities and free zones to ensure a smooth and efficient setup. The agreement was signed at the Ministry's headquarters by Mike Calise, CEO of Tellus Power Globe Holding Limited (Tellus Power), and Marius Ciavola, CEO of Sing Family Enterprise Middle East. The event was witnessed by Hessa Al Ghurair, Acting Assistant Undersecretary of the UAE Ministry of Investment, Hamdan Zakaria Doleh, Chairman of China Innovation Centre in UAE, Yansong Li, Co-Founder of Tellus Power, and Mohammad BinHendi, Group CEO of BinHendi Holding. The newly formed entity brings together BinHendi Holding, a forward-looking Emirati investment company, focused on enabling national capabilities across mobility energy, and industrial innovation; Sing Family Enterprise Group, a China-based family office and entrepreneurial conglomerate; and Tellus Power, an electric vehicle (EV) infrastructure manufacturer headquartered in California with a focus on charging stations, serving clients across the US, Europe, India, China, South America, and the GCC countries. The joint venture will enable the enhancement of local manufacturing of advanced EV charging solutions in the UAE, supporting regional demand and accelerating the adoption of bidirectional vehicle-to-grid technologies across the GCC. Mohammad Abdulrahman Alhawi, Undersecretary at the Ministry of Investment, said, 'This agreement showcases the Ministry of Investment's ongoing dedication to being a strategic partner for international investors, local investors, and family businesses. It directly aligns with our mission to strengthen the UAE's position in attracting future-focused investments that match our national priorities. By supporting partnerships like this, the Ministry continues to drive high-value investment into high-growth sectors, fostering innovation and sustainable economic prosperity.' Mike Calise, Chief Executive Officer of Tellus Power, said, 'We're honoured to join this strategic alliance, which we believe marks a significant milestone in expanding Tellus Power's global footprint. The UAE is rapidly emerging as a hub for clean tech and smart mobility, and we anticipate that this joint venture, supported by the Ministry of Investment, positions us to meet growing demand across the GCC.' Marius Ciavola, Chief Executive Officer of Sing Family Enterprise Middle East, stated, 'Through this collaboration, we aim to make the UAE a centre of excellence for EV charging - not only producing the most advanced chargers in the UAE, but exporting them to the world. We thank the Ministry of Investment for its leadership and continued support. We look forward to working hand-in-hand with Tellus and all of our partners to deliver on this exciting vision.' Mohammad BinHendi, Group Chief Executive Officer of BinHendi Holding, commented, 'This venture reflects our commitment to investing in long-term industrial transformation. By bringing advanced manufacturing to the UAE and broader region, we're building a foundation for scalable innovation in the region's energy and mobility future.' The deal supports the objectives of the National Investment Strategy, which aims to boost foreign direct investment in priority sectors such as renewable energy and advanced manufacturing. It also aligns with the UAE's National Electric Vehicles Policy, which targets a 50 per cent EV adoption rate by 2050. The Ministry of Energy and Infrastructure (MoEI) and Siemens Energy have signed a Memorandum of Understanding to collaborate on driving the future of green and clean energy in the UAE. The two sides will collaborate on mitigating future challenges related to grid infrastructure, enhancing sustainable development and climate action, and exploring potential tech opportunities for robust energy transition and reliable grid operation. WAM
Arab News
31-05-2025
- Business
- Arab News
Mining, entertainment sectors eye 100bn in investments by 2030
RIYADH: Saudi Arabia is steadily progressing in its journey to attract $100 billion in foreign direct investments by the end of this decade, with the Kingdom heavily focusing on securing funds in high-growth sectors, experts have said. Saudi Arabia's Vision 2030 economic diversification program aims to transform its economic landscape, including attracting foreign direct investment and increasing FDI's contribution to the Kingdom's gross domestic product. To facilitate and increase FDI, in August Saudi Arabia approved an updated investment law, aimed at boosting transparency and easing the process of investing in the Kingdom. Speaking to Arab News, Emilio El-Asmar, partner at Oliver Wyman's Government and Public Institutions practice – India, Middle East and Africa, said that the mining sector is one of the most promising industries that will help the Kingdom achieve its FDI goals by 2030. He also pointed out that the ongoing regulatory reforms happening in Saudi Arabia are making the Kingdom an attractive destination for foreign investments. 'Saudi Arabia's National Investment Strategy, central to Vision 2030, aims to transform the Kingdom into a globally competitive, innovation-driven economy,' said El-Asmar. Saudi Arabia offers geopolitical neutrality, long-term offtake potential, and value-add opportunities. Emilio El-Asmar, partner at Oliver Wyman's Government and Public Institutions practice – India, Middle East and Africa He added: 'Mining and metals are among the most promising areas, as the Kingdom has $2.5 trillion worth of untapped resources, including gold, copper, lithium, and rare earth elements, which are vital to energy transition and global industry. Regulatory reforms and integrated industrial zones are opening this frontier market to international investment.' The comments from the Oliver Wyman official come after Saudi Arabia launched a new incentive package to attract foreign direct investments into the nation's mining sector. The Ministry of Investment is collaborating closely with the Ministry of Industry and Mineral Resources through an exploration enablement program aimed at simplifying investments in the mineral exploration industry, the Saudi Press Agency reported in March. Ryan Alnesayan, partner at Arthur D. Little in the Middle East region, also echoed similar views and said that the mining sector could become a game changer in Saudi Arabia's economic diversification journey. 'The new mining law and exploration incentives are attracting serious interest, and the Kingdom is positioning itself as a global mining hub with reliable data, infrastructure, and long-term demand,' said Alnesayan. El-Asmar further said that Saudi Arabia's Ras Al-Khair and Wa'ad Al Shamal offer integrated infrastructure, rail and port access, and proximity to downstream processing, making them investment-friendly destinations for international entities. 'These ecosystems support refining, smelting, and metal fabrication. A pipeline of investable projects, from exploration to processing, is backed by national institutions including the Public Investment Fund and industrial champions,' said the Oliver Wyman official. Global players are investing in everything from gaming and digital media to smart cities and AI. Ryan Alnesayan, partner at Arthur D. Little in the Middle East region He added: 'As global supply chains seek secure mineral sources, Saudi Arabia offers geopolitical neutrality, long-term offtake potential, and value-add opportunities. Its location between Africa, Asia, and Europe gives investors access to regional growth markets.' In January, speaking at the Future Minerals Forum, Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef said the nation seeks to promote exploration opportunities across 5,000 sq. km of mineralized belts in 2025, aligned with the Kingdom's broader plans to establish mining as the third pillar of its industrial economy. In May, a report released by the General Authority for Statistics revealed that net FDI into Saudi Arabia stood at SR22.1 billion ($5.89 billion) in the fourth quarter of 2024, representing a rise of 26 percent compared to the previous three months. GASTAT also added that this figure was the highest level across the year, surpassing the SR15.5 billion seen in the first three months of 2024, the SR19 billion recorded in the second quarter, and the SR17.5 billion witnessed in the third. This development comes after Saudi Arabia rose to 13th place in Kearney's 2025 Foreign Direct Investment Confidence Index, published in April. This is up one spot from last year and also means the Kingdom retained its position as the third-most attractive emerging market, signaling continued global confidence in its transformation strategy. Kearney added that the ranking reflects the nation's bold, reform-driven approach to building an internationally competitive, future-ready economy. Other crucial sectors El-Asmar also outlined other crucial areas that could drive FDI into Saudi Arabia in the coming years. According to the Oliver Wyman official, sectors including pharmaceuticals, biotechnology and petrochemicals are also expected to see foreign funds pour into the Kingdom. He added: 'In petrochemicals, Saudi Arabia is expanding beyond crude oil into speciality chemicals, high-performance plastics, and packaging, backed by integrated feedstock and logistics infrastructure.' El-Asmar said that Saudi Arabia is ranked second among G20 countries in digital competitiveness, and the Kingdom has strong infrastructure, forward-looking regulations, and digital competitiveness capable of drawing FDI in AI, cloud, cybersecurity, smart city tech, fintech, and health tech. 'Incentives include regulatory sandboxes, IP protections, and access to a growing consumer and enterprise market, making the Kingdom attractive for global tech firms and startups,' said El-Asmar. Alnesayan also highlighted the role of technology and entertainment sectors in materialising Saudi Arabia's FDI goals. 'Entertainment and tech reflect Saudi Arabia's new growth story. Global players are investing in everything from gaming and digital media to smart cities and AI. These sectors are fueling job creation, innovation, and a dynamic consumer market,' said the Arthur D. Little official. El-Asmar agreed that the entertainment sector is central to Saudi Arabia's diversification and FDI strategy, reflecting cultural openness and rising domestic demand. 'With a population of 35 million and rising demand for premium experiences, the Kingdom is seeing growth in cinemas, theme parks, live events, and content production. Major international brands are entering the market, supported by co-investment and giga-projects like Qiddiya,' he said. RHQ program and FDI Alnesayan believes that Saudi Arabia's regional headquarters program is emerging as one of the key drivers of FDI in the Kingdom. 'The RHQ Program is not just about relocating offices — it's about anchoring decision-making in Riyadh. That brings investment, talent, and deeper regional integration. We've already seen over 600 companies commit, and the momentum is accelerating,' he said. Saudi Arabia's regional headquarters program offers incentives such as a 30-year corporate income tax exemption, withholding tax immunity, and various support services for international businesses. Some of the noted firms that relocated their headquarters to the Kingdom are Northern Trust, Bechtel and Pepsico from the US, and IHG Hotels and Resorts, PwC, and Deloitte from the UK. El-Asmar also highlighted the importance of the RHQ program and said that Saudi Arabia's location — at the crossroads of Europe, Asia, and Africa — makes it an ideal base for regional operations. Potential challenges Despite all these positive developments, experts also outlined some of the challenges Saudi Arabia could face in achieving its FDI targets within the stipulated timeline. 'The fundamentals are strong, but challenges remain — global volatility, talent gaps, and the need for ongoing regulatory clarity. But the Kingdom is addressing these head-on through reforms, infrastructure investment, and strategic partnerships that reduce risk and increase investor confidence,' said Alnesayan. El-Asmar said that foreign investors need predictability, and to address this, Saudi Arabia has launched the Investor Confidence Protection Mechanism and Investor Council, alongside legal reforms including English-language documentation and digital licensing portals. 'High operational costs and complex procedures persist in some sectors. Special Economic Zones, tax incentives, and digital services are helping to reduce these barriers and simplify market entry,' said El-Asmar. He concluded: 'While these challenges are real, Saudi Arabia's strategic reforms, long-term vision, and favorable location continue to make it one of the world's most promising emerging FDI destinations.'
Trade Arabia
10-04-2025
- Business
- Trade Arabia
Tajikistan welcomes UAE investment partnerships in energy
Sulton Rahimzoda, Chairman of the State Committee on Investments and State Property Management of the Republic of Tajikistan, affirmed that his country offers promising investment opportunities, particularly in renewable energy and green industries, in line with global efforts toward sustainable development and carbon reduction. Speaking to the Emirates News Agency (WAM) on the sidelines of the AIM Summit 2025 in Abu Dhabi, Rahimzoda noted that Tajikistan holds significant untapped hydropower potential – ranked 8th globally – but only 5 per cent of this capacity is currently utilised. He added that solar energy is another investment priority, with Tajikistan enjoying more than 300 sunny days annually, making it ideal for clean energy projects amid technological advances and lower production costs. Rahimzoda emphasised his country's commitment to leveraging its natural and human resources within a sustainable development framework, welcoming strategic partnerships with friendly nations -- especially in energy, industry, tourism, agriculture and advanced technologies. He highlighted Tajikistan's rich reserves of strategic minerals essential to the global green economy transition, including 10 out of 12 key minerals, and noted the country is among the world's top producers of antimony. With its combination of green electricity and mineral wealth, Tajikistan is well-positioned to host low-emission, value-added industries, especially as global demand grows for green-certified products and carbon tax exemptions. Rahimzoda called on UAE investors to explore Tajikistan's opportunities, particularly in renewable energy, organic agriculture and light industries. He cited the national aluminium company as a prime example of green industry leadership, being one of the top five global producers of "green aluminium" using clean energy. Regarding the business environment, he noted that the government has introduced more than 240 investor guarantees, including over 110 tax and customs incentives. Investors also enjoy flexibility in choosing cooperation models—whether direct partnerships, investment contracts, or joint ventures. Investment agreements with the government carry legal weight, as they require parliamentary ratification, demonstrating the state's commitment to investor protection and support. Rahimzoda revealed that Tajikistan is currently implementing its National Investment Strategy through 2040, with a focus on attracting green investments, strengthening private sector partnerships, and enhancing the ease of doing business. On regional and international cooperation, he underlined Tajikistan's strategic location along the historic Silk Road and its shared borders with China, Afghanistan and Iran, positioning it as a hub for major regional projects. He pointed to the Rogun Hydropower Project, one of the region's largest with a planned capacity of 3,600 megawatts, which will support water security, reduce emissions, and supply clean power locally and regionally. Rahimzoda also highlighted CASA-1000, a joint clean energy project with Kyrgyzstan, Afghanistan and Pakistan, expected to begin electricity transmission by 2027. Additionally, Tajikistan is working with Uzbekistan on two joint hydropower stations along the Zarafshan River, reinforcing economic integration and regional cooperation.
Yahoo
09-04-2025
- Business
- Yahoo
Saudi mining giant Ma'aden eyes rare earths partnership
Saudi Arabian mining company Ma'aden is in the process of selecting an international company to establish a rare earths processing partnership, aiming to position the kingdom as a critical minerals hub, reported Reuters, citing three sources familiar with the matter. The company is evaluating potential collaborations with MP Materials from the US, China's Shenghe Resources, Australia's Lynas Rare Earths or Canada's Neo Performance Materials. Ma'aden plans to finalise its decision by the end of June. The companies will develop plans for both a rare earths processing facility and a subsequent magnet production facility within Saudi Arabia. The chosen partner will collaborate with Ma'aden to study the most effective methods for mining and processing the kingdom's abundant mineral reserves. The study is expected to be completed by December. Saudi officials nearly doubled the estimated value of the kingdom's mineral reserves to $2.5trn (SR9.38trn) last year, mainly due to the inclusion of rare earth elements. While Ma'aden and MP Materials have refrained from commenting, Lynas has acknowledged its ongoing discussions with emerging rare earths companies globally. Among the contenders, Shenghe and Neo have experience in rare earths processing and magnet production. The refinement of rare earths, a group of 17 chemically similar metals, is a complex and environmentally challenging process. The search for more efficient methods is ongoing, given the intricate separation required for these metals. China's dominance in the rare earths refining industry, controlling nearly 90% of the global capacity, underscores the strategic importance of Saudi Arabia's move. Saudi Arabia's focus on mining aligns with Crown Prince Mohammed Bin Salman's Vision 2030, which aims to diversify the economy beyond its traditional reliance on oil. The country is ramping up its presence in the global minerals supply chain through major investments and strategic partnerships. Under its National Investment Strategy, it plans to invest $9.32bn in smelting projects with India's Vedanta and China's Zijin. The kingdom's sovereign wealth fund backs US-based electric vehicle maker Lucid, which opened a Saudi plant in 2023. The country has also signed memorandums of understanding with Hastings Technology Metals and Critical Metals for rare earth and lithium projects. In February 2025, Ma'aden secured $1.25bn from its first Islamic bond issuance, a key step in its $12bn expansion plan through 2030. "Saudi mining giant Ma'aden eyes rare earths partnership" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
