UAE – Mubasher: According to the United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2019, the UAE was ranked as the 27th globally in terms of attracting foreign direct investment (FDI) in 2018, the UAE’s Ministry of Economy revealed.

The UAE has topped the Arab World by attracting $10.4 billion FDI in 2018, accounting for nearly 36% of total FDI flows to the Arab countries, the ministry said in a press release, citing the report.

The GCC state claimed the second spot in West Asia, with FDI flows representing about 33.4% of total FDI inflows to this region, according to the UNCTAD’s World Investment Report 2019.

Sultan bin Saeed Al Mansoori, the UAE’s economy minister, said that the UAE’s progress in the rankings by three positions from 2017 “confirms the global investor confidence in the quality and efficiency of the country’s business environment, and its leading position as a regional destination for investments.”

The UAE also came in the second place among West Asian countries for attracting 35.5% of the total FDI to the region, the report highlighted, adding that the country has lured 22% of the total FDI to the MENA region.

Moreover, total FDI outflows from the UAE to the world rose by 7.2% to $15 billion in 2018, bringing its global ranking to 19th, the report indicated.

The also report ranked the UAE as the second country in the world with regard to the signing of bilateral investment agreements through six bilateral investment agreements out of 40 international investment agreements signed in 2018.

Additionally, the UAE followed the US and France in terms of green investment projects with green investments worth nearly $179 million.