UAE Attracts 200,000 New Economic Licenses in 2024
The country cements its status as a leading global investment destination with significant foreign direct investment inflows.
The United Arab Emirates (UAE) has established itself as one of the world's most preferred investment destinations, successfully attracting significant foreign direct investment that enhances its cumulative capital base.
In 2024, the UAE recorded the issuance of 200,000 new economic licenses across various sectors, contributing to a market ecosystem that includes over 1.1 million businesses and economic entities operating within its borders.
According to data from the Ministry of Investment, newly announced foreign direct investment (FDI) inflows reached $16 billion in 2023, underscoring the UAE's appeal to international investors.
The country continues to draw substantial foundational investments from a variety of nations, reflecting a dynamic business environment and strategic economic initiatives that create job opportunities, stimulate innovation, and support sustainable growth.
Abdullah bin Touq Al Marri, the UAE Minister of Economy, stated that the government is committed to providing a competitive legislative framework for emerging economic activities.
Over the past six years, the UAE has developed and issued more than nine significant economic legislations that promote the expansion of business operations and projects in new economic sectors across the nation.
In addition, the UAE has rolled out over 30 economic laws, regulations, and policies in the last four years.
These include new laws tailored for family businesses, e-commerce, cooperatives, consumer protection, trade transactions, trademarks, copyright rights, and neighboring rights.
Key sectors that have propelled foundational investments in the UAE include business services, software development, and information technology services, all of which have generated considerable job opportunities and attracted substantial capital inflow.
Financial services, industrial equipment, transportation, and storage have also played critical roles in fostering foundational investments, contributing to a 7.5% increase in total jobs created and a 31% rise in announced projects.
Additionally, there has been a 37% increase in announced FDI inflows.
Emerging sectors such as renewable energy, electric vehicles, and cloud computing have made significant contributions to the UAE's economic growth and created substantial investment opportunities.
The UAE's diverse economy and stimulating growth environment have enabled it to maintain its leading position in attracting investments at both the regional and Arab levels, facilitating comprehensive development worldwide.
This is evidenced by a record growth rate in foreign direct investment inflows, which increased by 35% to 112.6 billion dirhams in 2023, according to the UNCTAD World Investment Report 2024. The UAE ranked second globally in the number of new foreign direct investment projects in 2023, recording 1,323 new projects, a growth of approximately 33% compared to the previous year.
The UAE aims to attract further investments, enhance its investment landscape, provide greater incentives for investors, and improve its standing on international indices related to business and investment attractiveness.
The various global economic and investment events hosted by the UAE serve as vital platforms for shaping the future of global investment, particularly the upcoming "Investopia 2025," which reinforces the UAE's position as a global partner and a key economic hub in new economic sectors.
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Translated by AI
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