Profits of UAE government joint-stock companies amounted to 149.8 billion dirhams in 2019, compared to 149.65 billion dirhams in 2018 and almost 132 billion dirhams during 2017, according to figures released by the Federal Competitiveness and Statistics Authority.
The profitability achieved by government companies reflects the great financial strength and solvency it has and has placed it among the largest global companies during the past years.
Governmental companies are distributed in all emirates of the state, but the largest percentage of them are concentrated in the emirates of Abu Dhabi and Dubai, knowing that their capital exceeds 200 billion dirhams, according to previous statistics issued by the competent authorities, including the Ministry of Economy.
These companies are active in many fields at the local and international levels, including the sectors of investment, financial services, petrochemicals, transportation and other sectors.
The revenue of government joint-stock companies accounted for 31.3% of the total public revenue of the state, which amounted to approximately 478.2 billion dirhams during the year 2019, according to the figures shown by the national accounts issued by the Federal Competitiveness and Statistics Authority.
The profitability movement index of UAE government joint-stock companies shows a rising line during the past years, which established its leadership position compared to its global counterpart on the one hand and thus maximized its financial returns in general.