The UAE took the second place after the United States in greenfield FDI project announcements in 2023 at 1,323, an increase of 33% compared with 2022, according to the World Investment Report 2024, published on Thursday by the UN Trade and Development (UNCTAD), a report said.

In terms of FDI inflows in 2023, the UAE attracted $30.688 billion compared to $22.737 billion in 2022, a y-o-y growth of 35%, Emirates News Agency, WAM, said.

The UNCTAD report showed that FDI outflows stood at $22.328 billion compared to $24.833 billion in 2022.

FDI outflow stock grew to $262.208 billion in 2023 from $239.880 billion in 2022.

The United Arab Emirates gained two places in the ranking of top destinations for greenfield projects, after entering the top five in 2022.