The UAE ranked first regionally in terms of attractiveness to attract foreign investment, according to a report prepared by “Oxford Economics”. The British Foundation said that for many countries in the Middle East, attracting foreign direct investment is an important pillar in the growth diversification strategy, and the UAE aims to become one of the top ten destinations for foreign direct investment by 2030, while Saudi Arabia recently announced that it hopes to attract foreign direct investment of $100 billion.
The report indicated that the Gulf Cooperation Council countries focus on enhancing the quality of infrastructure and developing business systems in order to attract more foreign direct investment, as countries generally spend between 4% and 10% of GDP on infrastructure, which can be compared to spending before some Asian economies.
As a result, the quality of infrastructure in the GCC countries ranks relatively high. According to the World Bank’s Logistics Performance Index, the quality of the UAE’s infrastructure rivals that of Singapore.
Oxford Economics expects the UAE’s spending on infrastructure to rise to 4.1% of GDP.
The GCC economies are likely to continue investing in improving their infrastructure, as they have ambitious growth and diversification plans and the financial resources to make the investment. The PPP market can help support infrastructure investment across the wider region, and Dubai and Kuwait are likely to be prominent markets at present in the region, by launching public-private partnership programs for roads and other infrastructure, but there are There is room for other countries to also benefit from the public-private partnership.
Oxford Economics measures the relative attractiveness of foreign direct investment in the countries of the Middle East and North Africa on the basis of factors that affect the viability of business in a country, the domestic market, and the potential export market.