UAE investments abroad are performing well despite global economic fluctuations

Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), stated that UAE investments abroad are performing well despite global economic fluctuations.

The UAE is expanding its investment portfolio to secure future generations with valuable and viable projects, demonstrating sound economic management and commitment to development and cooperation.

Al Jarwan said, "The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or private, is estimated at $2.5 trillion as of early 2024. It ranked first in the Arab region and West Asia and 15th globally, and second globally in investing in new opportunities."

In statements to the Emirates News Agency (WAM), Al Jarwan explained that the United States holds the top spot, attracting $65 billion in bonds and $50 billion in direct investments. Egypt follows closely with $65 billion, while the United Kingdom and India each pull in $40 billion in direct investments. Morocco sees $30 billion, and Europe is emerging as a promising future destination due to its currency stability.

He said, "We are currently operating in 90 countries, and I expect India, Indonesia, ASEAN countries, Egypt, Morocco, Central Asian countries, Britain, France, Germany, the United States, Canada, and some Eastern European countries, especially Serbia, Greece, and Turkey, to be the focus of our attention."

Regarding the breakdown of ownership and capital holders, the Secretary-General of the UAEIIC explained that Emirati investments worldwide are divided between sovereign wealth funds by 72 percent, with Abu Dhabi Investment Authority (ADIA) playing a primary role, along with Mubadala Investment Company, Investment Corporation of Dubai, Emirates Investment Authority, and ADQ.

He noted that the UAE owns 7 sovereign wealth funds with assets exceeding two trillion dollars, followed by government-owned and quasi-governmental companies at 18 percent, UAE banks at 2.5 percent, and 7.5 percent for family-owned and private companies.