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The emirates climbed seven places in global rankings from 2019 to 2020
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The country also maintained its place as the 13th biggest for FDI outflows, investing $19 billion
The UAE was the world’s 15th biggest recipient of foreign direct investment (FDI) in 2020, receiving $20 billion, up from $18 billion in 2019, Zawya reported.
Last year, UAE’s biggest energy producer, Abu Dhabi National Oil Company (ADNOC) signed a $10 billion deal with a group of investors to sell a 49-percent stake in gas pipelines. The sale, besides the liberalization of the country’s FDI regime, contributed to the investment growth, the Zawya report said.
The country also maintained its place as the 13th biggest for FDI outflows, investing $19 billion.
UAE was the fifth-biggest recipient of FDI in Asia, after China, Hong Kong, Singapore and India, according to a United Nations Conference on Trade and Development (UNCTAD) World Investment Report.
Citing the report, Zawya said the UAE also received investments in other industries. For example, nearly 53 percent of FDI to the Emirate of Dubai in the first half of 2020 was in medium and high-tech sectors and a key deal was realized in the pharmaceuticals industry, with CCL Pharmaceuticals (Pakistan) acquiring a majority stake in StratHealthPharma for an undisclosed sum.
The USA was the biggest recipient of FDI in 2020, receiving $156 billion, down from $261 billion in 2019, while China was number one for FDI outflows, investing $133 billion in 2020, down from $137 billion in 2019.