Jamal bin Saif Al Jarwan, Secretary-General of the UAE Council for Overseas Investors, confirmed that Emirati investments abroad have delivered strong performance despite global economic volatility and an unstable investment landscape. The investments are growing significantly, reflecting the UAE’s strategy to expand its investment portfolio as a safeguard for future generations, incorporating projects with added value to the economy and demonstrating prudent management of financial surpluses while promoting economic development and cross-border cooperation.
Al Jarwan stated: “The UAE has strengthened its position in the global economy. The total value of Emirati investments abroad, both governmental and private, is estimated at approximately $2.5 trillion as of early 2024. The UAE ranks first in the region, across West Asia, 15th globally, and second worldwide in investment in new opportunities.”
Regarding the geographical distribution of investments, Al Jarwan explained: “Emirati foreign investments form a strong global portfolio with no geographic limits, spanning all six continents. The UAE has executed several major deals, acquiring numerous important institutions, companies, and large-scale projects worldwide.”
He noted that while UAE investments are concentrated in several countries, the United States accounts for the largest share. U.S. investments include $65 billion in bonds and $50 billion in direct investments, totaling $115 billion. Egypt follows with $65 billion, then the UK and India with $40 billion each in direct investments, and Morocco with a total of $30 billion. Europe represents a strategic dimension due to currency stability, encouraging additional investments.
Al Jarwan added: “We currently operate in 90 countries, with key focus areas including India, Indonesia, ASEAN nations, Egypt, Morocco, Central Asia, the UK, France, Germany, the U.S., Canada, and some Eastern European countries such as Serbia, Greece, and Turkey.”
Ownership and Investment Structure
He explained that UAE investments abroad are divided between sovereign wealth funds (72%), led by the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, Dubai Investment Corporation, Emirates Investment Authority, and Abu Dhabi Holding (ADQ). The UAE has seven sovereign wealth funds with assets exceeding $2 trillion. Governmental and semi-governmental companies account for 18%, UAE banks 2.5%, and family-owned or private companies 7.5%.
Al Jarwan highlighted the role of the Abu Dhabi Fund for Development in expanding national companies’ operations, enabling entry into new markets, and financing diverse developmental projects, benefiting many countries worldwide.
Major Deals and M&A Activity
Al Jarwan cited several high-profile transactions, including the acquisition of Univar Solutions by Apollo Global Management and ADIA for $8.2 billion, and the purchase of 22% of DP World’s ownership by Canada’s Caisse de dépôt et placement du Québec for $5 billion. Other notable deals included E& group and its subsidiary Atlas 2022 Holdings acquiring a 9.8% stake in Vodafone UK for $4.4 billion, and ADNOC’s 24.9% acquisition of Austria’s OMV AG for $4.1 billion. He also mentioned the $35 billion “Rais Al Hikma” cross-border deal.
Regarding mergers and acquisitions, Al Jarwan stated: “Emirati overseas investments are witnessing unprecedented growth in M&A, reflecting the UAE’s strong reputation with global partners. This positive trend allows companies to expand, enter new markets, achieve greater integration, enhance efficiency, and create value for both companies and investors.”
He emphasized that UAE-led sovereign funds and major national companies are key drivers of M&A activity globally, aligning investments strategically with the UAE’s economic objectives.
Investment Trends and Indicators
Al Jarwan highlighted historical trends: UAE overseas investments totaled $1.9 billion (1991–2000), $53.6 billion (2001–2010), and reached $240 billion cumulative by the end of 2022, up from $215 billion in 2021. Annual investment flows increased to $24.83 billion in 2022, a 10% rise from $22.54 billion in 2021, placing the UAE 15th globally in foreign investment flows, up from 20th in 2021, according to UNCTAD.
Soft Power Dimension
Al Jarwan emphasized that UAE foreign investments are a form of soft power, reflecting the legacy of the late Sheikh Zayed bin Sultan Al Nahyan and the vision of President Sheikh Mohamed bin Zayed Al Nahyan. The UAE ranked 10th globally and 1st regionally in the 2024 Global Soft Power Index, strengthening its position as a trusted partner in the global economy.
International Partnerships
He highlighted the UAE’s strong international partnerships, with investments present in 90 countries worldwide. These investments support the UAE’s positive image, contribute to development in host countries, create jobs, improve living standards, and enhance the UAE’s reputation globally. Al Jarwan concluded: “Emirati overseas investments have exported knowledge and technology, sharing the UAE’s pioneering management experience and reinforcing its global reputation despite strong competition.”
