FINANCIAL NEWS

Abu Dhabi eyes 9% growth in FDI

21 Nov 2010

(MENAFN) Abu Dhabi’s Department of Economic Development (DED) released its Annual Economic Report for the Emirate of Abu Dhabi 2010, revealing the Emirate’s plans to raise foreign direct investment (FDI) to 23 percent of gross domestic product (GDP) by 2030, and to increase its direct investment growth by 9 percent per year, Gulf News reported.

Moreover, the UAE’s capital aims at increasing non-oil exports to 11 percent of GDP, which will support the diversification of the production structure and reduce the volatility of GDP, the report revealed.

According to the report, the DED is establishing an export development and support centre which will contribute to the promotion of exports, provide necessary information, and enhance the business environment to help investors in the domestic market to locate external partners and have access to foreign markets and importers.

It is worth noting that Abu Dhabi now allows foreigners to own property up to 100 percent in special cases in free zones, said the report.

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