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FDI inflows into UAE jumped over 44.2 % to 19.88 bn in 2020: Ministry of Economy

ABU DHABI, 15th May, 2021 (WAM) — The FDI inflows to the UAE grew 44.2 percent in 2020 to $19.88 billion as compared to 2019, despite the fallout of the COVID-19 pandemic which has taken its toll on the global economy, according to a report by the Ministry of Economy.

The cumulative value of foreign direct investments inflows amounted to $174 bn, a growth of 12.9 percent during the reference period. FDIs covered all economic platforms, primarily the Oil & Gas, considering the massive investment partnerships struck by the Abu Dhabi National Oil Company (ADNOC) with a number of foreign companies. The UAE has drawn FDIs for digital economy, including Artificial Intelligence, Internet of Things, blockchain, medical knowhow, augmented and virtual reality (AR and VR), robotics, self-drive automobiles, renewable energy, innovation, agritech, etc.

In terms of FDI outflows, they…

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