Business

UAE attracts $8 bln investment in 2012 after Arab Spring

by fm

11th February 2013

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1 min read

The United Arab Emirates attracted about 30 billion dirhams ($8.2 billion) of direct foreign investment last year, the UAE's prime minister said on Monday.

Large amounts of capital fled Egypt, Tunisia, Syria, Yemen and other Arab countries in search of safe havens after political and economic turmoil erupted in those countries in early 2011.

Because of its political stability and Dubai's status as an international business centre, the UAE has attracted a large share of the capital.

Sheikh Mohammed bin Rashid al-Maktoum's office said in a statement that the UAE had received 30 billion dirhams in all foreign direct investment last year.