Dubai, UAE – The UAE’s total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of early 2024. Jamal Bin Saif Al Jarwan, chief of the UAE International Investors Council, said that UAE investments abroad are performing well despite global economic fluctuations.
The UAE secured the top rank in the Arab region and West Asia and the 15th spot globally in investments, while also clinching the second position globally in capitalizing on emerging opportunities.
Al Jarwan disclosed that the United States remained the prime destination, attracting substantial investments in bonds and direct ventures. Egypt closely followed with significant investments, along with the United Kingdom, India, and Morocco. Europe emerged as a promising destination owing to its stable currency.
Al Jarwan outlined a broad spectrum of countries that are currently on UAE’s investment radar, including India, Indonesia, ASEAN nations, Egypt, Morocco, Central Asian countries, and several European nations.
Emphasizing the ownership structure, he said that Emirati investments across the globe predominantly stem from sovereign wealth funds, spearheaded by entities like the Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company. Government-linked firms, UAE banks, and private enterprises also contribute to the investment landscape.
Al Jarwan underlined notable recent deals, such as the acquisition of UniVar Solutions by American asset management firm Apollo Global Management in collaboration with Abu Dhabi Investment Authority, among others.
He also highlighted the trend of cross-border transactions, citing the monumental Ras El-Hekma deal between Egypt and the UAE, expected to bring forth substantial investments.
Al Jarwan revealed a notable uptick in 2022, with UAE’s outbound investments reaching $24.833 billion, marking a 10 percent increase from the previous year.