UAE jumps four places in FDI confidence index

DUBAI: The UAE jumped four places in an index that measures the confidence of foreign investors.
It was one of only five countries globally that achieved a higher ranking this year in an increasingly competitive global FDI attraction environment, said US-based consultancy firm Kearney.
The Emirates ranked 15th globally in the 2021 Foreign Direct Investment (FDI) Confidence Index compiled by the firm.
The index measures factors important to investors, such as ease of doing business, technological infrastructure, and innovation levels.
The UAE was the only Gulf country in the list of 25.
“This global ranking confirms the efficiency of the approach that the UAE adopts, regarding the development of the national business environment and the attractiveness of the state to investments and various commercial activities,” Thani bin Ahmed Al-Zeyoudi, the country’s minister of state for foreign trade, said.
The report also showed high optimism levels about the UAE’s economic outlook – one of the top five countries in this regard – despite an overall fall in optimism about the global economy.
The ranking could be attributed to the country’s response to the COVID-19 pandemic, according to Rudolph Lohmeyer, a partner at the Middle East unit of Kearney.
He said the UAE’s high vaccination rate could boost investment prospects in the country.
The US topped the FDI confidence index, followed by Canada, Germany, the UK, and Japan.