- Country’s efforts to diversify economy yielding significant dividends.
Robust investment flows to the UAE are expected in the coming years on the back of the country’s consistent strong economic performance, steady growth and ambitious development plans in the next 50 years, Al Tamimi Investments, one of Dubai’s leading venture capital firms, projected recently.
“More investors continue to take a keen interest in the country and its economic expansion path. The Arab region’s second-largest economy enjoys positive market sentiments and a bullish economic outlook, making it a magnet for investments. It shows, among others, how its economic diversification efforts over the years have been attracting and continue to draw global attention, which translates into significant gains,” said Dani Tabbara, COO of Al Tamimi Investments.
The statement came after the UAE Central Bank released its report showing the country’s 8.2 per cent growth during the first three months of 2022. In 2021, the national non-oil foreign trade also performed well, rising 27 per cent to reach almost AED 1.9 trillion.
“As part of our commitment to cultivating homegrown brands, Al Tamimi Investments leverages our wealth of expertise to develop and empower the next generation of Emirati brands to contribute to shaping the future of the national economy,” Tabbara pointed out.
The increase of investments to the UAE was attributed to strong oil prices, improved oil production and the country’s continuous efforts to combat the pandemic’s effects. Its successful hosting of the Expo 2020 Dubai also played a part in its strong economic performance, with the grand event helping boost activities in key industries such as tourism, hospitality, logistics, and real estate.
Tabbara added: “These developments have allowed the UAE to reach its pre-pandemic levels. Investment influx is expected as the country remains on track with its economic goals, especially in key sectors such as construction, e-commerce, manufacturing, healthcare, education and advanced technology. Sustainability and innovation will also spur more growth opportunities, especially in promising sectors such as climate, transport technology, food and energy.”
Moreover, the COO of Al Tamimi Investments noted that the government’s investment-friendly programs and policies, the private sector’s increasing participation and non-stop infrastructural modernization and development initiatives will further improve the investment landscape in the country and its standing on the international stage.
The UAE targets to become one of the 10 biggest global investment destinations by 2030. In 2020, the United Conference on Trade and Development (UNCTD) named the UAE the world’s 15th biggest recipient of foreign direct investments (FDIs).