UAE attracts 18.7 bln dlrs in direct investment in 2006

The booming economy of the United Arab Emirates attracted 18.7 billion dollars in foreign direct investments in 2006, up 10.8 percent from the previous year, the local press reported on Tuesday.

UAE attracts 18.7 bln dlrs in direct investment in 2006
The inflows increased from 61.91 billion dirhams (16.86 billion dollars) in 2005 to 68.63 billion dirhams (18.7 billion dollars) in 2006, newspapers quoted Economy Minister Sheikha Lubna al-Qassemi as saying.

She said a survey conducted by the ministry, in coordination with UN agencies, found that financial services led the economic sectors in attracting 34.4 percent of investment, followed by construction at 29 percent, while manufacturing received 10.1 percent.

Qassemi did not provide any figures for 2007.

The booming emirate of Dubai, which is seeking to establish itself as a business and tourism regional hub, grabbed the lion's share of foreign investment in 2006 at 62 percent, followed by the wealthy capital, Abu Dhabi, at 24 percent.

The UAE economy grew 9.4 percent in real terms in 2006, according to data provided by the International Monetary Fund.

Agencies

Güncelleme Tarihi: 25 Aralık 2007, 22:42
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