A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike
Foreign direct investment (FDI) into the United Arab Emirates rose to $19.88 billion in 2020, up 44.2% from the previous year, the government said on Saturday.
Contributing to this figure were large deals carried out by the state-run Abu Dhabi National Oil Co (ADNOC), state news agency WAM said, without giving any further details.
Economy minister Abdullah al-Marri said the UAE would move forward with initiatives to increase the efficiency of the business environment, strengthen investor confidence, increase opportunities in priority sectors, and unify efforts to improve competitiveness at local and federal levels.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.