Thanks to its visionary leadership and strategic initiatives, the UAE continues to experience increased global trade and investment openness. Despite a 2% decline in global investment flows in 2023, the Gulf state saw a remarkable 35% surge in foreign direct investment (FDI) inflows.
The UAE rose five places last year to rank 11th globally in its ability to attract FDI, according to the World Investment Report 2024 released by the UN Conference on Trade and Development (UNCTAD).
Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, stated: “The UAE is continuing to move in the right direction to strengthen its position as a preferred global destination for foreign investors … a haven for ambitious entrepreneurs and creative thinkers …”
UAE’s NextGenFDI Initiative and CEPA Program
The UAE provides an excellent investment environment through its world-class infrastructure, flexible legislation, advanced technology, and initiatives that stimulate business across various sectors, as noted by Dr. Thani Al Zeyoudi in media reports.
He emphasized the NextGenFDI initiative – the first integrated package to facilitate company formation and offer banking, visa, and real estate services in a streamlined manner – and the Comprehensive Economic Partnership Agreement (CEPA) program.
Since the end of 2021, the UAE has been implementing the CEPA program, concluding several agreements with strategically important countries for global investment and trade.
Most Attractive Arab Country for Investment
Thanks to its strategic initiatives, the UAE attracted a substantial amount of foreign direct investment last year, totaling $30.7 billion. This figure is nearly three times that of its closest competitors in the Middle East.
The UAE accounted for 45.4% of the total FDI inflows to the Arab region ($67.6 billion), 47.1% of the total inflows to West Asia ($65.2 billion), and about 38.6% of the total FDI inflows to the MENA region ($79.5 billion) in 2023.
Dr. Thani bin Ahmed Al Zeyoudi highlighted that the UNCTAD data confirms the Emirates' steady and confident progress towards economic diversification and sustainable development, according to media reports.
Unmatched Benefits of Starting a Business in the UAE
The UAE offers numerous incentives to investors, supports entrepreneurship, and facilitates the establishment of more companies to diversify income sources. The nation continues to enhance its economic environment to attract more foreign investments.
Starting a business in the UAE takes just 15 minutes. There are over 2,000 economic activities available for foreign investors, with regulations excluding only a limited number of strategically important activities.
The UAE also offers a Golden Residency visa system for investors, entrepreneurs, and talented individuals, allowing them and their families to settle down, establish businesses, and enjoy long-term stays. Additionally, the UAE imposes no income tax on individuals.
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