Private capital flows into UAE to pick up in 2019. Political stability, friendly biz environment, diversified economy to draw more investors

The Dubai International Financial Centre. Improving capital inflows into the country are expected to support external reserves of the country.

Dubai: The UAE will remain the main regional destination for foreign direct investment (FDI) inflows in 2019 supported by political stability and a friendly business environment, and a relatively diversified economy, according to the Institute of International Finance (IIF).

According to the IIF statistics, the country attracted $10.4 billion in FDI, accounting for 20 per cent of the Middle East North Africa and Pakistan (Menap) total.

Improving capital inflows into the country is expected to support external reserves of the country.

“The UAE’s external position remains in an enviable position. With lower oil exports, we expect the current account surplus to narrow to a still-sizeable $23 billion (Dh84.47 billion) in 2019, equivalent to six per cent of GDP. We see public foreign assets continuing to increase to 200 per cent of GDP by 2020,” said Garbis Iradian, chief economist for the Middle East and North Africa at the IIF.

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