Dubai retains position as top global destination for FDI projects in first half of 2023

The emirate achieved 70 per cent year-on-year growth in total announced FDI projects between January and June of this year

Dubai retained its position as the world's top destination for attracting greenfield foreign direct investment projects in the first half of this year, cementing its position as a worldwide FDI hub despite global economic headwinds, a report has found.

The emirate, the tourism and commercial centre of the Middle East, attracted 511 greenfield projects during the period, surpassing second-placed Singapore by 325 projects, Dubai Media Office said, citing Financial Times fDi Markets data.

During the first half of this year, Dubai’s global share in the attraction of greenfield FDI projects stood at 6.58 per cent – up from 3.83 per cent over the same period last year.
The emirate attracted a total of 880 announced FDI projects between January and June of this year, achieving 70 per cent year-on-year growth.

Dubai’s greenfield FDI projects accounted for 65 per cent of total announced FDI projects during the period.

The emirate climbed from eighth to sixth position globally in greenfield FDI capital attraction with an inflow of Dh20.87 billion ($5.68 billion) between January and June this year, Financial Times fDi Markets data said.

“Dubai’s ability to maintain its top ranking in attracting Greenfield FDI projects reflects the city's ability to create unparalleled growth opportunities and value for global investors,” said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Executive Council.

“With the clear growth road map set out by the Dubai Economic Agenda D33, we continue to work to create an investment environment that not only wins the trust of investors from all over the world but also encourages them to contribute to Dubai’s transformation.”

Dubai attracted a total of 880 announced FDI projects between January and June this year, a year-on-year growth of 70 per cent.

Dubai's economy has bounced back strongly from the coronavirus-driven slowdown in 2020.

Source: thenationalnews.com