Sunday 7 October 2018
Foreign direct investment (FDI) into Dubai increased 26 percent in the first six months of 2018 to an aggregate of USD 4.84 billion. The number of FDI projects witnessed an increase of 40 percent, confirming Dubai’s attractiveness as a location for global investment.
Dubai is now ranked at the 10th spot globally in terms of FDI value. Based on the 248 greenfield projects approved or launched involving FDI, the emirate is No. 3 worldwide.
According to data collated and benchmarked by the Dubai FDI Monitor, an initiative of the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), Dubai ranked 4th in greenfield FDI projects, 10th in FDI capital flows, and 5th in FDI reinvestment projects in 2017. Total FDI flows in 2017 were USD 7.43 billion in 2017, an increase of 7 percent compared to 2016.
The latest data show that 43 per cent of all FDI projects in the first half of 2018 involved medium- to high-technology initiatives, according to the classification adopted by the Organization for Economic Co-operation and Development (OECD). ‘Strategic’ projects accounted for 56 per cent of total investment projects that Dubai attracted in the same period.
The US, India, Thailand, Spain, and the UK were the top source countries for FDI capital. The US also topped the list in terms of investment projects, followed by France, the UK, India, and Switzerland.
Fahad Al Gergawi, CEO of Dubai FDI, attributed the increase in FDI flows to the issuance of new laws that enhance Dubai’s competitiveness as a preferred global destination for investment and an incubator for innovation and creativity. These include laws allowing 100 per cent foreign ownership of companies, and 10-year residency visas for investors, innovators, professionals, and top-performing students.
Dubai FDI Monitor