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Iranians invest $760m in UAE in 2007

Press TV - A report released in the UAE shows that Iranians rank 5th for foreign investment in the Arab state with $760 million put into the emirate.

The report from the UAE Ministry of Economy said the total foreign direct investment in the UAE in 2007 was $18.67 billion.

The top five countries with the highest amount of investment in the UAE -- none of them Arab -- had a 66 percent share of the total foreign direct investment in the emirate.

The United Kingdom headed the top largest investors in the UAE at $4.57 billion, followed by Japan with $3.87 billion, India with $2.07 billion and the United States with $1.14.

Kuwait and Saudi Arabia were the sixth and seventh largest investors in the UAE respectively.

The UAE leads the region in attracting foreign direct investment in large part because it grants 100 per cent ownership to foreign investors in its free zones, does not levy taxes and places no restrictions on the transfer of capital to and from the country.

According to an international investment report issued by the United Nations, the UAE was home to 215 international projects in 2007 funded by foreign investment. Turkey came second with 62 ventures followed by Saudi Arabia with 49.

Analysts however say rising inflation in the UAE may eventually slow down foreign investment flows in the future.

... Payvand News - 06/23/08 ... --

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