His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, within the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Courtroom, attended the revealing of the Nationwide Funding Technique 2031 on the UAE Authorities Annual Conferences 2024 in Abu Dhabi.
Convening on fifth and sixth November, the Annual Conferences carry collectively over 500 officers from the UAE authorities, native entities, personal sector, and group organisations.
His Highness Sheikh Mohammed remarked, “Clear targets result in nice achievements. The UAE’s exceptional surge of 35 % in overseas direct funding inflows to AED112.6 billion in 2023, regardless of a world decline, affirms the success of our methods and the excessive stage of worldwide confidence in our nation.”
His Highness Sheikh Mohammed famous, “The Nationwide Funding Technique 2031 builds on achievements pushed by rigorously crafted plans, programmes, and initiatives geared toward positioning the UAE as a world strategic funding hub.
His Highness Sheikh Mohammed emphasised, “The UAE possesses robust fundamentals to draw investments, firms, companies, and expertise. Our goal is to double cumulative overseas direct funding inflows to AED1.3 billion by 2031.”
The launch of the Nationwide Funding Technique 2031 was attended by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum; Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council; H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah; H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman; H.H. Sheikh Rashid bin Saud bin Rashid Al Mua’lla, Crown Prince of Umm Al Quwain; H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah; H.H. Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah and H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Tradition and Arts Authority, alongside ministers and officers.
Throughout the session, His Highness Sheikh Mohammed bin Rashid attended a presentation by Mohamed bin Hassan Al Suwaidi, Minister of Funding, on the targets, programmes, and key initiatives of the Nationwide Funding Technique 2031.
Al Suwaidi highlighted the UAE’s spectacular FDI progress since 2015, with its share of worldwide flows growing 5.5 occasions and inflows rising 17.3 % regardless of a world decline of 5.3 %. The technique, aligned with the “We the UAE 2031” imaginative and prescient, goals to ascertain the UAE as a world funding hub by main in rising sectors, attracting high expertise, and fostering Emirati management, innovation, and entrepreneurship.
The UAE’s new overseas direct funding (FDI) technique goals to considerably increase FDI by 2031. Focusing on key sectors like superior manufacturing and renewable power, the technique seeks to double cumulative FDI to AED1.3 trillion (30 % of nationwide funding quantity) and triple the cumulative FDI steadiness to AED2.2 trillion by 2031. This can be achieved by means of 5 strategic instructions: attracting new investments in precedence sectors, increasing FDI in current initiatives, strengthening worldwide partnerships, enhancing investor relations, and boosting the UAE’s general competitiveness.
Throughout the session, Al Suwaidi outlined the important thing targets and programmes underneath the Nationwide Funding Technique 2031 and highlighted the UAE’s current accomplishments. In 2023, the UAE ranked second globally after america within the variety of new overseas direct funding (FDI) initiatives, with 1,323 new initiatives—a 33 % improve from 2022.
In 2023, the UAE noticed FDI inflows surge to roughly AED112.6 billion, a placing 35 % improve from AED83.5 billion in 2022. The nation superior 5 positions to rank eleventh globally in FDI attraction, in accordance with the UNCTAD report.
When it comes to cumulative FDI steadiness, Al Suwaidi famous that the UAE has considerably outpaced international progress charges over the previous decade. From 2013 to 2023, the UAE’s FDI steadiness elevated by 150 %, far exceeding the worldwide common progress fee of 97 %.
The UAE’s attractiveness for overseas funding is pushed by its financial competitiveness, technological management, expertise acquisition, international commerce hub standing (supported by quite a few treaties and agreements), superior monetary centres, world-class infrastructure, and top quality of life.
The Nationwide Funding Technique 2031 builds on these strengths, leveraging every emirate’s distinctive benefits to foster personal sector progress and innovation. By integrating international developments and prioritising analysis and growth, the technique goals to create a vibrant, investor-driven, private-sector-led economic system.
Al Suwaidi addressed international funding challenges, together with geopolitical tensions, shifting funding hubs, and elevated competitors for attracting investments. He additionally highlighted profitable international funding attraction methods. Whereas acknowledging the UAE’s previous success in attracting FDI, Al Suwaidi emphasised the necessity to additional improve the nation’s attractiveness and competitiveness to unlock its full potential. The main target can be on leveraging FDI to satisfy nationwide funding wants, encourage repeat investments, and retain key buyers.
The session launched the InvestUAE model to behave as a unified platform for selling the UAE as a world funding hub. Whereas the Ministry of Funding handles coverage and regulation, InvestUAE will lead promotional efforts, together with consciousness campaigns, summits, worldwide occasions, and digital advertising focusing on international buyers. This goals to strengthen the UAE’s worldwide presence, forge partnerships, and drive sustainable financial progress and diversification.
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