UAE Smashes Growth Expectations. Reinforces Economic Strength & Investor Confidence.
14th April 2022
The UAE's GDP for 2021 smashed expectations by growing 3.8%. Analysts had predicted a growth of just 2.1%. The UAE’s growth is the highest in the region, achieving a GDP of AED1.489t, reinforcing the strength of its economy and reflecting the confidence of the international community in its investment environment.
"In a turbulent and changing world, the UAE has been moving steadily forward. Our economy is growing, our journey is accelerating, our competitiveness is advancing upwards, our future is going to be promising, and we assure our people that the best is yet to come," said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
The UAE has strengthened its attractiveness as a business environment by:
Revising business procedures and costs
Improving legislation
Adopting strategies and policies in line with future economic trends and emerging technologies
Foreign Direct Investment (FDI) into the UAE grew 3.9% in 2021 to reach AED76b, spread across all sectors. Over the last decade, FDI inflows into the UAE have grown 116%.
Meanwhile, the UAE's outward FDI flows reached nearly AED82.6b in 2021, representing a growth of 19.1%. Over the last decade, FDI outflows from the UAE have grown 789%.
The UAE's investments in foreign markets reached nearly AED830.5b in 2021, up 11.1%. These have proven highly efficient serving as qualitative and sustainable strategic investments and have enhanced the competitiveness of the national economy in a number of advanced global industries.
In 2020, the UAE ranked 15th globally for its ability to attract FDI, up nine positions from 2019; and ranks 13th globally for outward FDI flows (the first in the Arab world), up six positions, according to UNCTAD's World Investment Report 2021.
The UAE has set itself the goal of being among the Top 10 largest global investment destinations by 2030, attracting AED550b of FDI inflows and having one million companies operating in the country.
Will your business going to be part of the UAE's dynamic economic growth journey, which is setting standards and pioneering the digital integration with existing economic industries and strategies to master a successful a circular economy thus ensuring a thriving, sustainable economy in the future?
Is the UAE on your radar for enhancing your organization’s own growth and success story? Contact us to find out more about setting up your business for success in the UAE.
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Gateway Group Of Companies - Why We Exist
The Gateway Group Of Companies helps organizations to mitigate the risks of getting licensed to do business in the UAE. We were established back in 2014 to provide no-nonsense, transparent and well communicated services, as a result of witnessing the troubles companies encountered during their company formation in Abu Dhabi and Dubai.
Establishing a presence in the UAE doesn't need to be difficult, providing you engage the right expertise at the outset. We are just like you - we have invested our own money to establish our businesses in the UAE, so unlike a sales team, we understand and can empathize with the anxieties and risks of doing business overseas and the implications of making the wrong decisions. We are best positioned to provide, on-the-ground, practical advice from first hand experience. Hence, our services are designed to give you full control of your business, protect your assets and keep your profits. After all, this is exactly what we want for our own businesses too.
Our core values are Honesty, Trust & Integrity.
Gateway Group Of Companies
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Written by Jenny Hunt, Founding Partner & Strategic Advisor to the Gateway Group of Companies, Abu Dhabi & Dubai UAE
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