Lumina speaks to Sky News Arabia

Written By The House Agency

Lumina Partner Andrew Nichol speaks with Business News anchor Hafida El-Bouchari on UK-to-Middle East investment and trade predictions for 2023:

  • FDI at record levels given regional resilience and position as global bright spot for growth - last year’s FDI at USD21bn for UAE and USD19bn for KSA

    • KSA could exceed UAE FDI this year for the first time since 2012

  • UK Free Trade Agreement Negotiations with the GCC to quicken through 2023 off the back of recent discussions and ‘priority status' in the UK

  • UK outward investment to Middle East region focused on sustainable and hard infrastructure (Actis / Emirates District Cooling), fintech, payment and investment platforms, e-comm and digital transformation

  • ME outward investment to UK in clean hydrogen (SABIC / Teeside), tech/gaming, energy transition related sectors and life sciences

    • GBP6.1bn out of Mubadala’s 2021 5 year commitment of GBP10bn has already been spent – now anticipating overspend

  • Venture, SME and small cap inward deals from UK to Middle East have increased by 10x – from USD123m in 2020 to USD1.4bn in 2022.  UAE and KSA saw the lion’s share of these inward investments

  • COP 28 an ongoing opportunity for the UK to strengthen regional energy cooperation, while showcasing UK technologies across energy transition, tech, space and strategic mineral supplies

Watch the clip on twitter here.

The House Agency https://houseagency.co
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