In 2022, the UAE successfully attracted nearly US $36bn in foreign direct investment (FDI) for renewable energy projects at the planning stage. Official sources estimate that the nation is now the world’s fourth-largest recipient of funding for greenfield projects. This sum would also rank the nation as the 31st largest recipient of FDI of any kind.
Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said that investors from over 170 countries had chosen the UAE to invest, grow, and expand over the past decade, reaffirming the trust of the global investment community in the country’s strong fundamentals and positive outlook.
Addressing the gathering at the 8th World Investment Forum (WIF), he reiterated the UAE’s commitment to fostering collaboration, strengthening economic partnerships, and tackling the pressing global challenges of our era. He explained, “The UAE’s dedication to building bridges between nations and fostering economic relationships is set to unlock a world of opportunities. As a global hub for business and finance, the UAE has also made bilateral trade agreements, cementing our reputation as a reliable partner for international trade and cooperation.
He added, “We are now the world’s fourth-largest recipient of greenfield projects, with nearly a thousand ambitious ventures announced last year.”
Al Zaabi pointed out that the UAE was one of the world’s most active nations investing overseas, helping growth across 122 countries and 35 diverse sectors over the past five years.
“Our commitment to sustainable development is clearly demonstrated by substantial investments of nearly $45 billion in renewable energy. In 2022, the UAE FDI outflows dedicated nearly $36 billion to renewable energy projects,” he concluded.