UAE PM Attends Unveiling Of National Investment Strategy 2031 In Abu Dhabi

UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum attended the launch of the National Investment Strategy 2031 at the UAE Government Annual Meetings 2024 in Abu Dhabi.

Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan was also present during the launch, which brought together over 500 officials from the UAE government, local organizations, the private sector, and community groups.

"Clear goals lead to great achievements. The UAE's remarkable surge of 35 percent in foreign direct investment inflows to AED112.6 billion in 2023, despite a global decline, affirms the success of our strategies and the high level of international confidence in our nation," Sheikh Mohammed said, WAM reported.

"The National Investment Strategy 2031 builds on achievements driven by carefully crafted plans, programs, and initiatives aimed at positioning the UAE as a global strategic investment hub," he added.

The prime minister highlighted that the UAE has solid foundations to attract investments, companies, businesses, and skilled professionals. He shared that the goal is to increase the total foreign direct investment inflows to AED 1.3 billion by 2031.

The launch of the National Investment Strategy 2031 was also attended by Minister of Investment Mohamed bin Hassan Al Suwaidi, who underscored the UAE's strong growth in foreign direct investment (FDI) since 2015.

The UAE's share of global FDI flows grew 5.5 times, and inflows increased by 17.3%, even as global FDI declined by 5.3%.

This strategy is a part of the "We the UAE 2031" vision, focusing on making the UAE a global center for investment by leading in new industries, attracting top talent, and promoting Emirati leadership, innovation and entrepreneurship.

The UAE's new FDI strategy aims to greatly increase FDI by 2031. Focusing on sectors like advanced manufacturing and renewable energy, the goal is to double total FDI to AED 1.3 trillion (30% of the country's total investment) and triple the FDI balance to AED 2.2 trillion by 2031.

This will be done through five main approaches: attracting new investments in key sectors, expanding FDI in existing projects, strengthening international partnerships, improving investor relations, and increasing the UAE's overall competitiveness.

Al Suwaidi recalled that the UAE ranked second globally, after the United States, for the number of new FDI projects, with 1,323 new projects—an increase of 33% from 2022.

Last month, Dubai remained the top city across the globe for attracting Greenfield Foreign Direct Investment (FDI) projects in the first half of the year, according to the Financial Times Ltd's 'fDi Markets' data, showing its competitiveness and attractiveness to international investors.