Today's Edition
TALAH TURK (ABU DHABI)
The UAE has once again shown its prowess on the global stage, ranking second in the world for the number of greenfield Foreign direct investment (FDI) projects in 2023. With a total of 1,280 projects, the UAE is only surpassed by the United States, which led with 1,966 projects.
The number of greenfield FDI projects in the UAE surged by 36% year-on-year, taking the UAE up three places in the global ranking from fifth in 2022. Additionally, the UAE ranked third globally in terms of greenfield headquarters projects with a total of 76 projects.
This was revealed in Emirates NBD's report titled "UAE: Greenfield FDI exceeded $15bn in 2023." The data for which was taken from the Financial Times FDI Markets database as of March 11.
Abu Dhabi also made significant strides, ranking sixth globally with 172 projects and showing a remarkable 74% year-on-year increase. Dubai emerged as a key player in the FDI landscape, attracting the largest share of FDI capital inflows amounting to $6.81bn. The emirate retained its position as the leading city in the number of greenfield FDI projects, outpacing global financial hubs like Singapore and London with 1,036 projects.
Abu Dhabi had the biggest number of projects that exceeded the $200mn mark with eight projects while Dubai had five. The UAE's total FDI capital inflows surged by 33% year-on-year reaching $15.08bn, with Abu Dhabi contributing $4.48bn, Dubai with $6.81bn, and Sharjah also making a notable contribution with $2.75bn.
Last year, the US was the biggest source of greenfield FDI inflows into the UAE, having grown by more than 137% year-on-year reaching $ 3.78 billion. After that comes India with $3.21 billion (413 %year-on-year increase), UK with $1.19 billion (151%), France with $1.1 billion (7% decline), and China with $935 million.
