Dubai ranks 3rd globally in attracting FDI

Dubai ranks 3rd globally in attracting FDI

DUBAI (Agencies): Dubai attracted Dh15.9 billion worth of foreign direct investment (FDI) capital inflows in the first nine months of 2021, data showed. The investment places Dubai third globally in key metrics including attracting greenfield FDI capital and projects, for FDI into reinvestment projects and for being among the top global FDI locations of the future, according to the ranking by Financial Times’ fDi Markets, which captures and compares FDI data across the world.
The emirate was also ranked third among the top global FDI locations of the future in 2021, according to the ‘FDI Global Cities of the Future 2021/2022’ report published by fDi Intelligence.
Dubai also ranked second globally in the ‘Major Cities for FDI’ subcategory as well as in ‘Economic Potential and Business-friendly Environment’, with third position in the ‘Connectivity’ subcategory, highlighting the high level of investor confidence in Dubai and its future-readiness.
“Dubai has continued to introduce and implement initiatives that improve business confidence. Global investors have placed their faith in Dubai’s business ecosystem, making it among the most attractive FDI locations in the world,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council.
“Initiatives such as full foreign ownership, an evolving visa administration, and the alignment of the work week with global markets demonstrate Dubai and the UAE’s responsiveness to business needs. Under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate has implemented numerous initiatives to successfully combat the global pandemic, while focusing on its long-term goals of economic growth and happiness for all.
These measures augment Dubai’s attraction for investors seeking opportunities across strategic and emerging sectors while cementing its position as a global economic hub,” he added.
FDI reinvestment projects accounted for 11 per cent of the total FDI projects in the emirate. FDI job creation witnessed a huge growth of 36 per cent during the first nine months of 2021 compared to the same period last year, as 16,430 new jobs were created compared to 12,090 jobs in the same period prior to last year.
The total number of FDI projects increased by 16 per cent, from 326 in the first nine months of 2020 to 378 in the same period of 2021.

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