|TAP Special| Inflows from BRIC countries, including India and China, into the UAE have surpassed those from the Middle East and Africa region and India leads the other BRIC countries in this respect.
According to a report of the Fortress Investments, the UAE is attracting significant capital from the BRIC countries and this is the result of progressive government measures and global partnerships. This significant revelation comes on the heels of index provider MSCI’s upgrading the United Arab Emirates (UAE) to ‘emerging market’ status, thus putting the UAE in the ambit of the BRIC grouping.
“India commands the lion’s share of BRIC capital coming into the UAE. The UAE is a net importer of capital mainly from emerging markets and regional markets, where capital inflow from developed markets is low,” Hamed Mokhtar, Managing Director at Fortress Investments, said.
He added: “Financial robustness of the UAE financial markets, specifically Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), not only spells financial gains but also stronger economic sentiment that boosts the image of the UAE as a global powerhouse that is much valued by groups like BRIC.”
