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Soren
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Do you have any evidence of how FDIs directly helped the UAE in this way?
Saudi Arabia is a highly developed country with an HDI of .836. Developing countries will be unable to create laws like Saudi Arabia.
This would require the MNC to be producing a good for the locals, however they may simply be there to produce export. Additionally lower prices would drive other local firms out of business as they would be unable to compete and so the MNC would dominate the economy.
The UAE is considered a developed country, with an HDI of 0.827, and so logically has laws like this put in place. Developing countries (like Somalia) will likely not have strong laws like this and so will not receive the empowerment that Emirati citizens do. These developing countries will therefore not benefit from the FDI's citizen empowerment.
FDIs do not help developing countries. MNCs only establish in these countries to extract resources cheaply, with no interest to aid the local economy. Typically, MNCs will import their own workers or technology and do not employ locals due to their lack of knowledge. In this way, locals do not benefit from the new firm as no new income is distributed within the economy directly from the MNC.
Additionally local workers have the possibility of being exploited by MNCs due to weak labour laws if hired. Either way, the workers are not being helped in any way.
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