What’s the secret to sustaining the economy during a pandemic? According to the Ruler of Dubai, good crisis management.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President of the UAE and Ruler of Dubai, took to Twitter on Saturday to share the nugget of wisdom after it was revealed that foreign direct investment (FDI) into the country had risen by 44 per cent in 2020.
“Despite the UN’s estimates that global foreign direct investment flows decreased by 42% in 2020 over COVID-19, the UAE witnessed 44% growth in FDI flows in 2020, compared to 2019, to reach AED73 billion,” tweeted Sheikh Mohammed.
“Good crisis management is a guaranteed investment,” he added.
Contributing to this figure were large deals carried out by the state-run Abu Dhabi National Oil Co (ADNOC), state news agency WAM said earlier today, without offering any further details.