His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, and Ruler of Dubai, attended the launch of the National Investment Strategy 2031 at the UAE Government Annual Meetings 2024 in Abu Dhabi. He was joined by His Highness Sheikh Mansour bin Zayed Al Nahyan, the Vice President and Deputy Prime Minister.
The Annual Meetings, held on November 5 and 6, gathered over 500 officials from the UAE government, local organizations, the private sector, and community groups.
Sheikh Mohammed highlighted the importance of clear goals, stating, “Our recent growth of 35 percent in foreign direct investment (FDI), reaching AED112.6 billion in 2023, shows that our strategies are working and that there is great international confidence in our country.”
He noted that the National Investment Strategy 2031 builds on past successes, aiming to establish the UAE as a global investment hub through effective plans and initiatives.
Sheikh Mohammed stressed the UAE’s strong foundation for attracting investments, businesses, and talent. “Our goal is to double foreign direct investment inflows to AED1.3 trillion by 2031,” he said.
The launch was also attended by key figures, including H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and other prominent leaders and ministers.
During the meeting, Sheikh Mohammed observed a presentation by Mohamed bin Hassan Al Suwaidi, the Minister of Investment. Al Suwaidi discussed the objectives, programs, and key initiatives of the National Investment Strategy 2031.
He emphasized the UAE’s impressive FDI growth since 2015, noting that its share of global FDI flows has increased 5.5 times, with a 17.3 percent rise in inflows despite a global decline of 5.3 percent. The strategy aligns with the “We the UAE 2031” vision, focusing on emerging sectors, attracting top talent, and fostering Emirati leadership and innovation.
The UAE’s new strategy aims to significantly boost foreign direct investment by 2031, targeting sectors like advanced manufacturing and renewable energy. The plan seeks to double cumulative FDI to AED1.3 trillion, representing 30 percent of national investment, and triple the cumulative FDI balance to AED2.2 trillion. This will be achieved through five key areas: attracting new investments, expanding existing projects, strengthening partnerships, enhancing investor relations, and increasing competitiveness.
During the presentation, Al Suwaidi outlined targets and programs under the National Investment Strategy 2031, highlighting the UAE’s achievements. In 2023, the UAE ranked second globally in new foreign direct investment projects, with 1,323 new initiatives a 33 percent increase from the previous year.
The UAE’s FDI inflows reached about AED112.6 billion in 2023, marking a 35 percent rise from AED83.5 billion in 2022. The UAE climbed five spots to rank 11th globally for attracting FDI, as reported by UNCTAD.
Regarding cumulative FDI balance, Al Suwaidi pointed out that the UAE has surpassed global growth rates over the last decade. From 2013 to 2023, the UAE’s FDI balance grew by 150 percent, compared to the global average growth of 97 percent.
The attractiveness of the UAE for foreign investment stems from its economic competitiveness, technological innovation, talent acquisition, global trade status, advanced financial centers, top-notch infrastructure, and high quality of life.
The National Investment Strategy 2031 builds on these strengths, leveraging the unique advantages of each emirate to foster growth and innovation in the private sector. By focusing on global trends and prioritizing research and development, the strategy aims to create a vibrant, investor-driven economy.
Al Suwaidi addressed global challenges like geopolitical tensions, shifting investment patterns, and rising competition. He acknowledged the UAE’s previous success in attracting FDI but emphasized the need to enhance the country’s attractiveness further.
To meet national investment needs and retain key investors, the focus will be on leveraging FDI effectively. The session also launched the InvestUAE brand, aimed at promoting the UAE as a global investment hub.
While the Ministry of Investment will handle policies, InvestUAE will lead promotional efforts, including campaigns, summits, international events, and digital marketing directed at global investors. This initiative aims to strengthen the UAE’s presence worldwide, build partnerships, and drive sustainable economic growth.
