A key Arab League financial institution said the UAE has yet to provide Foreign Direct Investment (FDI) figures for 2007, but preliminary estimates by the Ministry of Economy put it at about $17 billion (Dh62.44bn) and an expected $19bn in 2008.
Britain pumped nearly $4.5bn into the UAE in 2006 to emerge as the largest foreign investor in the country, showed the figures by the Kuwait-based Inter-Arab Investment Guarantee Corporation (IAIGC).
The funds accounted for nearly a quarter of the total FDI of about $18.6bn attracted by the UAE in 2006.
Japan emerged as the second largest foreign investor in the country, with FDI of about $3.8bn.
India came third with nearly $2.09bn while FDI stood at about $1.16bn by the United States and $767 million by Iran.
A breakdown of the figures showed Kuwait was the top Arab investor in the UAE, pumping nearly $699m. Saudi FDI was estimated at $666m while the investments stood at about $204m by Lebanon, $195m by Bahrain, $161m by Sudan and nearly $327m by Qatar.
Total Arab FDI in the UAE was estimated at $2.31bn, nearly 12 per cent of the overall foreign investment in the country.
In a recent report, IAIGC said the UAE was the top Arab destination for foreign capital during 1997-2006, attracting in excess of $35bn. The level accounted for more than 18 per cent of the cumulative Arab FDI of about $188bn.
Saudi Arabia came second, attracting about $34.5bn during 1997-2006, followed by Egypt, with nearly $23.2bn and Lebanon with $18.07bn.
The UAE was also the second largest capital exporter, with outgoing FDI of about $10.99bn, nearly 26 per cent of the total Arab FDI outflow. Kuwait topped the list, with its exported capital standing at $15.1bn.