Boom year for foreign direct investment in the UAE

The UAE attracted US$5.5 billion (Dh20.2bn) more in foreign direct investment last year than it invested abroad, data from the Central Bank shows.

A total of $7.7bn flowed into the economy, according to the recently released Central Bank annual report. Heading out of the UAE was $2.2bn of investment.

“It’s a record net inflow since 2000 at least,” said Giyas Gokkent, the chief economist at National Bank of Abu Dhabi. “You have more money coming in than going out, so it’s positive for the local economy.”

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Article by Links Group on May 30th 2012

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