Dubai, Sep 19 (Emirates24/7): The United Arab Emirates, UAE, has been ranked the most attractive destination for Foreign Direct Investment, FDI, among the Arab countries in 2016, accounting for 29 percent, or US$9 billion, of the total inflow investment, according to a study issued by the Ministry of Economy.

"The UAE also topped the Arab countries in terms of new foreign investment projects in the period from 2003 to 2016, with 4,492 out of the total 12,192 new projects," the study showed.

The analytic study monitored the movement of FDI in the Arab World in 2016, in light of the investment inflows, and Arab and global accumulative outbound and inbound FDI.

''The UAE has a competitive economy with 25 percent of the international companies having regional operations in the UAE, thanks to the UAE's economic strengths, such as political and security stability, strategic geographical location between the west and east, advanced technological and regulatory infrastructure, easy access to smart government services, highly transparent banking and financial services, and others," the study noted.

The accumulative FDI in the UAE rose 8.2 percent to US$117.9 billion in 2016, from $109 billion in 2015, mainly boosted by the increasing investment in the manufacturing and heavy industries, including aluminium and petrochemicals, while FDI inflows constituted 16.9 percent by the end of 2016 of the total FDI in West Asia, and 26.5 percent in the Gulf Cooperation Council, GCC.

The UAE came second after Turkey in West Asia in terms of the most attractive destination for FDI, accounting for 32.3 percent of the total investment inflows of $27.8 billion," it added.