Latest news with #UnitedNationsConferenceonTradeandDevelopment
TECHx
35 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
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
Hi Dubai
7 hours ago
- Business
- Hi Dubai
Global FDI Rose 4% in 2024 to $1.5 Trillion: UNCTAD
Global foreign direct investment (FDI) dropped 11 percent in 2024, marking the second year of decline and underscoring growing concerns over volatility and fragmentation in international capital flows, according to the United Nations Conference on Trade and Development (UNCTAD). Released Thursday in Geneva, UNCTAD's World Investment Report 2025 noted that despite a 4 percent rise in global FDI to $1.5 trillion last year, the increase was driven largely by transient financial flows through European investment hubs — masking underlying weaknesses in long-term investment trends. The report warned that geopolitical tensions, trade fragmentation, and intensifying industrial policy competition are reshaping the global investment landscape, eroding investor confidence and deepening disparities between developed and developing markets. Developed economies saw FDI fall sharply by 22 percent, with Europe experiencing a dramatic 58 percent plunge. North America stood out with a 23 percent rise, led by inflows into the United States. FDI to developing countries held relatively steady. Asia remained the top recipient despite a slight 3 percent decline, while Southeast Asia posted a 10 percent rise. Africa recorded a 75 percent surge, primarily due to a major project in Egypt, while Latin America and the Caribbean saw a 12 percent drop. In the Middle East, investment remained strong, bolstered by Gulf nations' economic diversification initiatives. Structurally vulnerable economies showed mixed results: FDI rose in least developed countries and small island states but fell in landlocked developing nations. UNCTAD emphasized the need to reform global investment frameworks to support sustainable development, ahead of the upcoming Fourth International Conference on Financing for Development, where world leaders will address growing financing gaps. News Source: Emirates News Agency
Egypt Independent
9 hours ago
- Business
- Egypt Independent
Egypt ranks 9th globally, 1st in Africa for FDI in 2024
Rania al-Mashat, Egypt's Minister of Planning and Economic Development and International Cooperation, announced the launch of the World Investment Report issued by the United Nations Conference on Trade and Development (UNCTAD). The report monitors key trends in global Foreign Direct Investment (FDI) in 2024 and highlights Egypt's position among the most attractive countries for investments, driven by the Egyptian government's reforms. In a statement to the Egyptian Cabinet, the Minister revealed that the report placed Egypt ninth globally and first in Africa among the most attractive countries for FDI during 2024, attracting $47 billion in investments. The Minister clarified that this marks a significant leap for Egypt from its 32nd global ranking in 2023, which recorded $10 billion in FDI. This reflects the government's prioritization of empowering the private sector and attracting investments. She also noted the positive growth rate in the third quarter of the current fiscal year, which exceeded expectations. Al-Mashat highlighted the report's positive focus on developments in Africa, particularly in Egypt. The report specifically spotlighted the Ras El Hekma deal as an innovative model comprising two components: direct investment and a debt-swap mechanism. She added that this model came at a crucial time and demonstrates the state's ability to utilize innovative tools to attract financing and investments, deploying them in line with its national priorities. She also referred to the UNCTAD Secretary-General's address, which emphasized the importance of mobilizing financing for the private sector. In this context, Egypt hosted a major conference earlier this week on development finance and enhancing the private sector's role in achieving growth and creating job opportunities. This conference also served as a genuine platform to embody the principle of cooperation between international financial institutions and national governments in supporting the investment and development agenda. Within this framework, she affirmed that over the past five years, Egypt has successfully mobilized more than $15.6 billion for the private sector. She underscored that the relationship between trade, investment, and development is an integrated and interconnected one, and that promoting private and foreign investments is considered one of the primary means to achieve comprehensive and sustainable growth.
See - Sada Elbalad
10 hours ago
- Business
- See - Sada Elbalad
Egypt Rises to 9th Globally in FDI Inflows amid Record $47 Billion Surge
Taarek Refaat Egypt has made a dramatic leap in the global investment landscape, ranking 9th worldwide in foreign direct investment (FDI) inflows for 2024, according to the World Investment Report released by the United Nations Conference on Trade and Development (UNCTAD). FDI into Egypt surged to $47 billion last year, up from just $10 billion in 2023—catapulting the country from 32nd place to the top 10 globally. The report credits this extraordinary 373% increase primarily to mega-deals and landmark projects, particularly the Ras El Hekma coastal development initiative. The United States retained its position as the world's leading destination for FDI, followed by Singapore, Hong Kong, China, Luxembourg, Canada, Brazil, and Australia. Egypt was the only African and Arab country to appear in the global top 10. A joint statement by Egypt's Ministries of Investment, Planning, and International Cooperation—released in collaboration with UNCTAD—highlighted the broader regional momentum, noting that FDI to Africa rose by 75% in 2024, reaching $97 billion, up from $55 billion in 2023. Egypt led the continent in FDI growth, followed by Ethiopia, Côte d'Ivoire, Mozambique, and Uganda. Despite Egypt's exceptional performance, the UNCTAD report paints a more cautious global picture: total FDI flows worldwide fell by 11%, from $1.67 trillion in 2023 to $1.5 trillion in 2024. This decline was driven largely by a 22% drop in FDI to advanced economies, amid rising geopolitical tensions and tighter monetary policies. Developing countries managed to maintain stable inflows overall, while the least developed countries (LDCs) saw a 9% increase, signaling selective resilience. Interestingly, the number of new investment projects worldwide increased slightly by 3%, reaching 19,356, suggesting that while capital volumes are down, investor appetite for greenfield projects remains intact. Economists say Egypt's performance reflects a broader strategic shift toward large-scale, state-backed development projects aimed at transforming the country into a regional investment hub. Whether this momentum can be sustained will depend on regulatory clarity, infrastructure readiness, and macroeconomic stability. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
