ABU DHABI, Feb. 2 (Xinhua) -- The United Arab Emirates (UAE) has strengthened its position as a leading global financial center, a whitepaper issued by the country's investment ministry said on Monday.
"From Capital Exporter to Financial Architect: The UAE's Evolving Role in Global Finance" credits the country's rise to long-term government planning, strong regulations, and investment in financial infrastructure, including banking, fintech, Islamic and sustainable finance, and digital assets.
Despite a global slowdown in 2024, foreign direct investment jumped 48.7 percent to 45.6 billion U.S. dollars, placing the UAE among the world's top 10 FDI destinations. Finance and insurance contributed 9 to 10 percent of GDP from 2018 to 2024, driving economic diversification.
Minister Mohamed Hassan Alsuwaidi said the progress reflects a strategy focused on openness, innovation, and global connectivity. He also reaffirmed the country's commitment to expanding global finance opportunities for investors.
