The UAE has attracted about Dh30bn ($8.2bn) in capital inflows in 2012 from various parts of the world, including the Arab Spring countries, the UAE Prime Minister and Ruler of Dubai, Shaikh Muhammad bin Rashid Al Maktum, told an open forum of government officials and citizens in Dubai. He explained that large amounts of capital left Egypt, Tunisia, Syria, Yemen and other Arab countries in search of safe havens after the outbreak of political and economic turmoil in early 2011.
He noted that Arab capital flowed to the UAE because of the country’s stability and Dubai’s reputation as an international business center. Shaikh Muhammad did not give any details as to how the money entered the UAE, or whether it was left as short-term deposits or invested in real estate or businesses. (CONTINUED - 293 WORDS)
