Industry, Logistics & Shipping

UAE ranks second after US in greenfield FDI projects

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.