Foreign Direct Investment in Abu Dhabi grew by 8 percent in 2016

Figures published in annual report issued by the Statistics Center – Abu Dhabi for 2016.

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There was an 8 percent increase in Foreign Direct Investment (FDI) in the emirate of Abu Dhabi last year amounting to ($25.90 billion) Dh95.145 billion, from ($24.22 billion) Dh 88.95 billion in 2015, according to WAM.

The above figures were published in the annual report on Direct Foreign Investment in the Emirate of Abu Dhabi, issued by the Statistics Center – Abu Dhabi (SCAD) for 2016.

Out of the total incoming funds growth rate of 11.2 percent compared to 2015 when manufacturing industries received 19.5 percent of FDI, or Dh17.204 billion.

Investments in real estate activities, including “real estate sales to non-residents”, has taken 25.2 percent of FDI or Dh24.007 billion in 2016 compared to 27 percent of the total FDI, or Dh23.793 billion in 2015.

In financial and insurance activities, the increase in FDI has been from Dh13.338 billion in 2015 to Dh14.672 billion in 2016, with a growth rate of 10 percent in 2016. These activities were responsible for 15.1 percent of the total FDI in 2015 and for 15.4 percent of FDI in 2016.

The share of the extracting industries (including crude oil and natural gas) in FDI has grown by 11 percent in 2016, from Dh8.354 billion in 2015 to Dh9.273 in 2016 respectively, accounting for 9.5 percent and 9.7 percent of the total FDI.

Intensive efforts

Khalifa bin Salem Al Mansouri, ADDED Acting Undersecretary, stressed that the government of Abu Dhabi is putting intensive efforts to motivate foreign capital to invest in the local economy, including for example the improvement of services, developing the performance of corporate, legal and procedural structures, enabling the private sector’s effective involvement in the various economic activities and developing specialized industrial zones that would enable all investors to start their various projects.

Butti Ahmed Mohammed Al Qubaisi, General Director of the Statistics Center – Abu Dhabi (SCAD), said that this significant growth in FDI reflects the extensive efforts of Abu Dhabi government to promote the private sector’s role and effectiveness in diversifying the economy and boosting development.

He also said that there is growing awareness of the necessity to encourage foreign investment as a tool of economic diversification as Abu Dhabi has mobilized all its potential to prepare the necessary infrastructure to support economic development at all fronts.

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