National Investment Strategy 2031 Unveiled By Sheikh Mohammed Bin Rashid At UAE Annual Meetings
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended the unveiling of the National Investment Strategy 2031. The event took place at the UAE Government Annual Meetings 2024 in Abu Dhabi. His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, was also present.
The UAE Government Annual Meetings convened on 5th and 6th November. Over 500 officials from various sectors participated. These included representatives from the UAE government, local entities, private sector, and community organisations.
Sheikh Mohammed highlighted that clear goals lead to significant achievements. He noted a remarkable 35 percent increase in foreign direct investment (FDI) inflows to AED112.6 billion in 2023. This growth occurred despite a global decline in FDI flows.
The National Investment Strategy 2031 aims to position the UAE as a global strategic investment hub. It builds on past achievements through well-crafted plans and initiatives. The strategy seeks to double cumulative FDI inflows to AED1.3 trillion by 2031.
The launch was attended by several dignitaries including H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai; and other prominent figures from different emirates.
During the session, Mohamed bin Hassan Al Suwaidi, Minister of Investment, presented the strategy's goals and key initiatives. He highlighted the UAE's impressive FDI growth since 2015.
Strategic Directions for Investment
The new strategy targets key sectors like advanced manufacturing and renewable energy. It aims to triple the cumulative FDI balance to AED2.2 trillion by 2031 through five strategic directions: attracting new investments in priority sectors, expanding existing projects, strengthening international partnerships, enhancing investor relations, and boosting competitiveness.
Al Suwaidi outlined recent accomplishments under this strategy. In 2023, the UAE ranked second globally after the United States in new FDI projects with a total of 1,323 projects—a 33 percent increase from 2022.
UAE's Global Competitiveness
The UAE's attractiveness for foreign investment is driven by its economic competitiveness and technological leadership. Its status as a global trade hub is supported by numerous treaties and agreements along with advanced financial centres and world-class infrastructure.
The National Investment Strategy leverages each emirate's unique advantages to foster private sector growth and innovation. By integrating global trends and prioritising research and development (R&D), it aims to create an investor-driven economy led by the private sector.
Challenges and Opportunities
Al Suwaidi addressed global investment challenges such as geopolitical tensions and increased competition for attracting investments. He emphasised enhancing the nation's attractiveness to unlock its full potential through leveraging FDI for national needs.
The session also launched InvestUAE as a unified platform promoting the UAE as a global investment hub. While policy regulation is managed by the Ministry of Investment, InvestUAE will lead promotional efforts targeting global investors through campaigns and events.
This initiative aims to strengthen international presence while driving sustainable economic growth and diversification within the country.
With inputs from WAM
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