The Burj Khalifa in Dubai, UAE
The Burj Khalifa in Dubai, UAE Nick Fewings/Unsplash

Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), said that the United Arab Emirates investments made at the global level are performing well despite economic fluctuations overseas.

Al Jarwan noted that the Middle Eastern country is continuously expanding its investment portfolio abroad to secure future generations with valuable and viable projects.

Highlighting that the country has strengthened its position in the global economy, the Secretary-General of the UAEIIC said, "The total value of UAE assets abroad, whether government or private, is estimated at $2.5 trillion as of early 2024. It ranked first in the Arab region and West Asia and 15th globally, and second globally in investing in new opportunities."

He acknowledged that the United States holds the top position, attracting $65 billion in bonds and $50 billion in direct investments. Egypt is also close with $65 billion, while the United Kingdom and India each receive $40 billion in direct investments, WAM reported.

Morocco, on the other hand, attracts $30 billion and Europe is becoming increasingly promising due to its stable currency.

"We are currently operating in 90 countries, and I expect India, Indonesia, ASEAN countries, Egypt, Morocco, Central Asian countries, Britain, France, Germany, the United States, Canada, and some Eastern European countries, especially Serbia, Greece, and Turkey, to be the focus of our attention," he said.

The UAEIIC Secretary-General spoke about the distribution of ownership and capital, noting that Emirati investments globally are primarily held by sovereign wealth funds, accounting for 72% with Abu Dhabi Investment Authority (ADIA) as a key player alongside Mubadala Investment Company, Investment Corporation of Dubai, Emirates Investment Authority and ADQ.

Al Jarwan mentioned that the country possesses seven sovereign wealth funds with assets surpassing two trillion dollars. Government-owned and quasi-governmental companies hold 18%, UAE banks hold 2.5% and family-owned and private companies hold 7.5%.

"There are a series of deals that have been concluded, the most prominent of which was the deal between the American asset management company Apollo Global Management and Abu Dhabi Investment Authority to acquire UniVar Solutions, headquartered in the UAE, for US$8.2 billion," he added.

Al Jarwan highlighted that from 1991 to 2000, the UAE invested $1.9 billion and from 2001 to 2010, the country invested $53.6 billion abroad. This resulted in a total cumulative balance of Emirati investments overseas reaching $240 billion by the end of 2022, compared to $215 billion in 2021.