Dubai seeks to attract FDI at investment meet

Cumulative FDI to the UAE increased to $117.9 billion by the end of 2016 from around $109 billion by the end of 2015.

The Annual Investment Meeting (AIM) will take place at the Dubai World Trade Centre from April 9 to 11, 2018, with the participation of leaders, decision-makers and high-level local, regional and international government officials.

The annual forum is one of the leading regional events on foreign direct investment (FDI) and is organised by the UAE Ministry of Economy. It is expected to attract more than 20,000 investors and visitors from developed and emerging markets this year and will adopt the theme 'Partnerships for inclusive growth and sustainable development.'

The AIM is a leading platform for strengthening the UAE's role as a distinctive investment destination. In the World Bank's 'Ease of Doing Business for 2018' report, the UAE ranked 21 out of 190 countries in ease of doing business, up by five levels from 26th position in 2017.

Cumulative FDI to the UAE increased to $117.9 billion by the end of 2016 from around $109 billion by the end of 2015, at a growth rate of 8.2 per cent. The rise was supported by higher investments in manufacturing and other heavy industries, according to recent reports.

Sultan bin Saeed Al Mansouri, Minister of Economy, said: "FDI is instrumental to achieving sustainable economic growth. We are constantly adopting policies and structures that will provide us with a suitable environment for attracting FDI and retaining its positive impact to attain desired results."

Al Mansouri said it is important for countries to develop appropriate policies and frameworks for taking the best advantage of inward FDI to support their development objectives.

According to the 2017 Global Investment Report published by the UN Council on Trade and Development, the UAE was the 11th largest FDI recipient in Asia. Its main investors are from the UK, the US and India. After having declined in 2009, FDI inflows recovered in 2016, when the UAE attracted around $8.9 billion to surpass the 2015 figure by around 2.2 per cent. FDI is mainly concentrated in the retail/wholesale trading, real estate, financial services, insurance and manufacturing sectors.

The eighth edition of the AIM will be dedicated to discovering how partnerships between developed and emerging markets can be utilised to strengthen mutual objectives through FDI.

- business@khaleejtimes.com