UAE to attract $14.4 bln FDI

UAE to attract $14.4 bln FDI

UAE to attract $14.4 bln FDI

The UAE is expected to attract foreign direct investment (FDI) of $14.4 billion in 2014, 20 per cent higher than 2013, according to a top government official. Last year, the country also recorded a 20 per cent year-on-year growth in FDIs that reached $12 billion, Abdulla Al Saleh, Undersecretary UAE Ministry of Economy, Foreign Trade Sector, told reporters at a news conference in Dubai.
“In 2013, the UAE was able to attract three times more FDIs than expected,” Al Saleh said, adding that increased government spending and a significant resurgence in tourism, transport and trade have contributed to this upswing. He mentioned that FDI jumped by 200 per cent from $4 billion in 2007 to $12 billion in 2013. The country is the third most attractive country in West Asia for FDIs, he said quoting UNCTAD figures.

Posted on Jan 17 2014. Filed under Business, Front, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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