FINANCIAL NEWS

UAE free zones bring in $73b FDI

03 Nov 2010

(MENAFN) UAE Minister of Foreign Trade, Shaikha Lubna Al Qasimi, announced that UAE free zones brought in approximately $73 billion in foreign direct investment (FDI), Gulf News reported.

According to Unctad, the UAE represents 1.7 percent of the global share of new FDI projects, accounting for 230 projects and ranked 14th globally in the number of new FDIs projects in the previous year, said the minister. In only five years, projects expanded by 123 percent, Shaikha Lubna added

The majority of the 36 free zones in the UAE are located in Dubai which hosts Jebel Ali, the largest free zone in the Middle East.

Shaikha Lubna presented these remarks during her participation in the the World Free Zone Convention 2010, held in the emirate of Ras Al Khaimah.

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