UAE to create thousands of jobs as it aims to draw Dh128 billion in FDI; key hiring sectors unveiled

UAE’s aim to attract Dh128 billion in foreign direct investment (FDI) over the next 6 years will create thousands of jobs across various sectors, especially manufacturing, technology, hospitality, retail, finance, healthcare, logistics, and renewable energy.

Analysts see roles of AI, cybersecurity, software development and analysts in cloud computing; researchers and engineering in renewable energy; wealth managers and credit risk analysts; skilled supply chain and warehousing workers; and experts in 3D printing, automation will be in high demand as a result of fresh FDI flows over the next 6 years.

On Monday, the UAE Cabinet approved the National Investment Strategy to more than double its annual foreign investment inflows over the next six years from Dh112 billion in 2023 to Dh240 billion by 2031.

Hamza Dweik, head of trading and pricing for Mena at Saxo Bank, said the strategy will significantly impact the employment sector as new businesses enter the market and existing companies expand foreign investments is a key driver for creating jobs, both directly and indirectly.

“The demand for skilled professionals in key sectors such as technology, finance, logistics, and renewable energy will rise. This will open doors for both local talent and global professionals seeking opportunities in a dynamic and growing economy,” he said

Large-scale projects

Dweik noted that large-scale projects and infrastructure developments will need people with diverse skill sets. “Beyond that, the boost in business activity will generate jobs in other sectors too, like retail, hospitality, and professional services.”

?He added that increased investment in manufacturing and industrial innovation will create demand for engineers, technicians, and supply chain professionals. Advanced manufacturing, including 3D printing and automation, will also generate specialised job opportunities.

?In the IT sector, he said, increased FDI will allow the digital economy to thrive, leading to job openings in artificial intelligence, cybersecurity, software development, and cloud computing.

?Hassan Fawaz, chairman and founder of GivTrade, said the National Investment Strategy 2031 will create a more diverse and resilient job market, reducing dependence on traditional sectors.

?“The focus on key growth sectors suggests that the strategy will not only create immediate job opportunities but also foster long-term career prospects in emerging industries, contributing to the UAE's vision of building a knowledge-based economy,” he said.

?He elaborated that the technology and IT sector is expected to lead job creation, particularly in areas like digital transformation, software development, and cybersecurity. The financial services sector, especially fintech, will see substantial growth in roles related to digital banking and financial technology.

?Vijay Valecha, chief investment officer, Century Financial, said FDI projects, especially in sectors like technology and manufacturing, lead to the establishment of new businesses in a country. “Such a move would directly create newer job opportunities in these establishments. Secondly, these would result in indirect job creation. For instance, increased manufacturing activity would also increase activity in the infrastructure and construction industries, and such a move would induce job opportunities here as well.”

?He said the National Investment Strategy 2031 aims to develop key sectors like industry, transport and logistics, financial services, renewable energy and water, telecommunications and information technology.

?“It would be safe to assume that these sectors could see the maximum job creation as a result of new FDI inflows. It should be noted that the Cabinet also reviewed the progress of the National Digital Economy Strategy 2031, which was launched to raise the digital economy’s contribution to GDP from 9.7 per cent to 19.4 per cent, indicating that focus on job creation might be given to the sector,” he added.

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Diversification of non-oil economy

?Valecha said the increased FDI inflows can also encourage entrepreneurship and boost existing business activity, directly leading to not only a reduction in unemployment but also attracting a skilled workforce from across the world.

?Hamza Dweik of Saxo Bank added that the key objective of this strategy is to diversify the non-oil economy and reducing dependency on oil revenues to build a more resilient and future-ready economic model.

?Hassan Fawaz said the increased FDI inflows will have positive spillover effects, including knowledge transfer and improved business practices, combined with infrastructure development and financial sector growth. “This will contribute to sustainable long-term economic expansion and cement the UAE's position as a leading global investment hub.”

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