UAE attracts $75billion in FDI

25/07/2011 - Dubai Investment News Posted by Bob Brunskill
UAE attracts $75billion in FDI

Since 2000, the UAE has attracted more than $75 billion in foreign direct investment (FDI), emirates247.com has reported.This is according to official data, which shows that the UAE has emerged as the second largest foreign capital destination in the Arab world after Saudi Arabia.The report noted that FDI into the UAE reached nearly $130.5 billion during 2000-2010.Furthermore, cumulative FDI flow into the UAE amounted to $75.7 billion during 2000-2011, around 17 per cent of the total Arab FDI inflow of $446 billion.Saudi Arabia, meanwhile, accounted for around 38 per cent of the overall Arab FDI despite a sharp decline in its FDI last year.There was a decline in most regional states, the report found, with the exceptions being Lebanon and Morocco, as well as Libya and Iraq.This comes shortly after one industry body suggested the economy of the UAE is set to expand this year.Figures published by the Arab Monetary Fund said the emirates will see the economy grow by 3.3 per cent in 2011.