The UAE has attracted more foreign direct investment into its biotechnology sector than any other country in the Middle East and North Africa region, according to a new report, consolidating the country’s position as a regional leader in cutting edge technology.
The UAE was also ranked third in the region in terms of the total volume of capital invested in these projects during the period from 2003 to 2020.
“These advanced rankings achieved by the UAE in the field of foreign direct investments in Biotech once again underlines the country’s leading position in the regional and global investment landscape, thanks to the vision and support of its wise leadership. This recognition is the latest milestone in the UAE’s record of achievements in various fields related of economic development and its commercial and investment environment’s attractiveness, especially in the innovative and futuristic sectors,” said H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
The rankings were published by the FDI Markets Index, which was recently issued by the Financial Times’s FDI Intelligence magazine.
“Over the past years, the UAE has succeeded in consolidating its position as an attractive destination for investments and business, and today, it is reinforcing its position as a regional and global hub for investment in the sectors of the new economy. This latest recognition is set to further strengthen the confidence of global investors in the efficiency and quality of the UAE’s business climate and highlight the extent of development and readiness of its markets to be a preferred destination for future projects,” His Excellency added.
H.E. Al Zeyoudi added that the UAE government is continuing its efforts to enhance the policies that attract foreign investments and expand the scope of incentives and facilities for companies and investors in the country.
Source: https://www.itp.net/emergent-tech/96087-the-uae-leads-the-way-on-foreign-investment-in-biotech