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UAE Tops The Region, Leading Arab Nations In Attracting Over $22 Billion In Automotive Investments For 2024

The UAE has firmly positioned itself as the leading destination for foreign automotive investments in the Arab world for 2024. In a remarkable display of growth and attractiveness, the UAE, alongside Saudi Arabia, Morocco, Algeria, and Egypt, collectively brought in 145 foreign projects worth an impressive $22 billion. These nations now account for 79 percent of the region’s total foreign automotive investments, according to the Arab Investment and Export Credit Guarantee Corporation (Dhaman).

This surge in investments is set to create more than 91,000 jobs, representing 89 percent of all employment generated by foreign automotive ventures in the Arab world. Of note, China emerges as the largest investor, contributing 27 projects valued at $8 billion, which will add around 20,000 jobs to the region’s economy.

UAE Solidifies Its Dominance In The Automotive Sector

The UAE’s leadership in the automotive industry is reinforced by its status as the most appealing hub for automotive business and investment in the region. The country’s progressive policies, competitive landscape, and strategic position in the global economy continue to attract investors and businesses, making it the preferred destination for automotive activity in the Middle East.

Investments And Job Creation Power The Growth

With significant foreign investments pouring into the sector, the UAE’s role as a central player in the automotive industry is only growing. These investments are bolstering the UAE’s economy while creating thousands of jobs, with the country’s share of the region’s foreign direct investments (FDIs) standing at 45.4 percent in 2023.

Surge In Automotive Sales Expected

By the end of 2024, total vehicle sales in the Arab world are projected to surpass 1.8 million cars, marking a 4.5 percent rise from the previous year. Saudi Arabia continues to dominate the region, holding a substantial 45 percent share of the market.

UAE’s Role As A Global Investment Magnet

The UAE remains a global magnet for foreign investments, not only in the automotive sector but across industries. In 2023, the UAE attracted AED248.3 billion in FDIs, accounting for a staggering 35 percent of all investments in the Arab region. This growth is largely due to the country’s investor-friendly policies, robust infrastructure, and attractive business environment.

The UAE’s success is also reflected in its FDI inflows, which grew by 35 percent in 2023, reaching AED112.6 billion. The country’s decision to amend its Commercial Companies Law—enabling full foreign ownership—has further enhanced its investment climate, with over 275,000 new companies launched in just over a year and a half.

Furthermore, the UAE ranks second globally in terms of greenfield FDI projects for 2023, following the United States, further cementing its position as a global business hub and a vital player in the automotive and other key sectors.

This influx of foreign investment in the UAE highlights not only the country’s economic strength but also its strategic importance in driving growth and innovation across the region.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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