UAE, Qatar lead Middle East in 2023 global foreign investment ranking  

DUBAI – Middle Eastern economies have been ranked among the top 25 countries on the 2023 Kearney Foreign Direct Investment Confidence Index (FDICI), with the United Arab Emirates leading the region.

The Kearny FDICI is an annual survey of global business executives ranking markets according to their investment outlook over the next three years.

Although its first report was issued in 1998, this is the first time the firm has dedicated an index to emerging markets.

What happened: Six countries from the Middle East and North Africa (MENA) region were in the top 25 emerging markets attracting foreign direct investment (FDI). Here they are, with their world ranking:

1. UAE at 3rd

2. Qatar at 4 p.m

3. Saudi Arabia at 6th

4. Egypt at 14th

5. Turkey at 15th

6. Morocco at 16th

Why it’s important: This is the first time the 25-year-old index has created an exclusive ranking for emerging markets, identifying which are most attractive to investors.

In 2021, Saudi Arabia introduced a new national investment strategy that set an FDI target of more than $100 billion per year by 2030.

The Dubai Economic Agenda launched in January this year is notable. The $8.7 trillion plan aims to make Dubai a world capital by measuring economic strength over the next 10 years. It involves an initiative to bring 30 private companies to unicorn status, meaning it is worth more than $1 billion.

Overall, more than 82% of business executives surveyed by Kearny said they plan to increase FDI in the next three years, up from 76% last year.

However, Kearney acknowledged that despite positive sentiment from investors this year, there are risks associated with increases in commodity prices, continued political instability due to issues such as the war between Russia and Ukraine and global inflation ahead of markets. which is emerging.

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