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UAE’s foreign investments top USD100b in 10 years

08 Oct 2015

(MENAFN) The total volume of foreign investments in the UAE, at present a regional base for over 500 international companies, exceeded USD100 billion in the past decade, Minister of Economy said.

The UAE is aiming to lower the oil sector’s present contribution from 69 percent of gross domestic product (GDP) to around 20 percent in the next few years through a diversification drive.

Within just 44 years, the UAE economy has taken tremendous leaps compared to other global economies thanks to the federal government’s dynamic approach that focuses on economic diversification.

“The UAE economy has maintained positive growth levels despite a decline in oil prices and a slow global economic performance. This has come about as a result of our resilient economic policies,” he said.

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