Dubai Attracts New Record Dh46.6 Billion FDI

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Photo: Reuters/file

The foreign direct investment (FDI) of Dubai has shoot up to Dh 46.6 billion in the first half of the year. The record breaking 135 percent increase this 2019 ranks the country as third globally in capital flows and number of green field projects.

“With high-rising infrastructures and non-stop innovation, Dubai is attracting top of the line talents and highly advanced technology,” Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai stated. The country’s FDI in 2018 was surpassed by Dh 8.1 billion in just the first three quarters of 2019.

According to Dubai FDI statistics, USA tops with 34 percent of the total FDI projects, followed by China sharing a total of 28 percent of the total FDI projects. 11 percent of the total FDI comes from the UK, and 5 percent of the total for France and Singapore, respectively.

Massimo Falcioni, CEO of Etihad Credit Insurance stated that, Dubai’s geographical location, modernize environment that initiates business opportunities and regulations that promotes and welcomes international ventures. It plays a vital role in attracting FDI to the Middle East.

One of many deals that play a key role in achieving this year’s FDI is the acquisition of Uber over Careem and Internationals investments in Network International.

With this record-breaking achievement, Sheikh Hamdan said,”This is a proud achievement for Dubai. With the growth of talent and technology, Dubai will accelerate its drive to become the smartest and most sustainable city of the future.”