UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday.
This picture taken from the sea of Dubai on March 3, 2021 shows the skyline of the Gulf emirate with Burj Khalifa in the centre.
This picture taken from the sea of Dubai on March 3, 2021, shows the skyline of the Gulf emirate with Burj Khalifa in the center. - GIUSEPPE CACACE/AFP via Getty Images
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Salim A. Essaid
@salim_a_essaid

DUBAI — While Saudi Arabia’s foreign direct investment (FDI) inflow fell 59% last year to nearly $7.9 billion, the United Arab Emirates recorded its highest FDI inflow ever of nearly $23 billion in 2022, according to a United Nations report released on Wednesday. 

Israel and the UAE led the Middle East and North Africa (MENA) for the highest FDI inflow — the purchasing of assets in another country — and placed 15th and 16th globally, respectively, according to the United Nations Conference on Trade and Development's (UNCTAD) 2023 World Investment Report. 

Here are the top 10 MENA countries with the highest FDI inflows in 2022, according to UNCTAD: 

1. Israel - $27.76  billion 

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