The United Arab Emirates is the world's top investor in Iraq so far this year, having announced $37.7bn (€25.2bn) worth of projects in the first nine months of 2009, mainly in the oil, gas and real estate sectors, according to a new report.

The UAE accounted for more than 24% of all investments announced in Iraq this year as it seeks to cash in on potentially lucrative oil and gas revenues from the country's vast energy reserves, Washington-based Dunia Frontier Consultants said in a report on foreign direct investment in Iraq, published this month.