Dubai: FDI Global City of the Future 

Dubai has ranked first in the world in attracting foreign direct investment (FDI) in 2021 with a record 418 FDI projects, said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council.

Presenting the annual ‘DUBAI FDI Results & Rankings Highlights Report 2021′ published by Dubai FDI Agency, an agency of the Department of Economy and Tourism (DET), Sheikh Hamdan said, “Dubai has been ranked first in the world for foreign direct investment thanks to the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. Under His Highness’ leadership, Dubai has created a stable, resilient economic environment and a dynamic business ecosystem for companies and entrepreneurs to start new businesses, exploit new opportunities and expand their businesses both domestically and internationally. Over the years, Dubai has demonstrated its resilience to global economic fluctuations, gained the trust of global investors and cemented its reputation as one of the world’s leading destinations for life and business. 

“His Highness’ vision has fostered a strong public-private partnership that has created a unique model of cooperation for rapid sustainable development and resulted in growth-friendly regulations and services that promote business development. Under his leadership, Dubai’s government departments, free zones and private sector partners have joined forces to create fertile ground for talent, entrepreneurship and investment in the emirate. As the winds of change sweep through the world, foreign investors continue to gravitate towards Dubai thanks to the favourable platform it has created for companies of all sizes to innovate, develop promising technologies and add value to the economy.”

In the annual DUBAI FDI Results & Rankings Highlights Report 2021, Dubai was ranked first in the world for attracting new FDI projects in 2021, rising from third place last year, with a staggering 418 new FDI projects. The report was based on data from Financial Times Ltd’s fDi Markets, the world’s leading source of data on greenfield FDI projects. 

The DUBAI FDI Results & Rankings Highlights Report 2021 is based on data from Dubai FDI Monitor, which tracks, verifies and provides analysis on all types of FDI projects in Dubai, including greenfield FDI projects, data on FDI reinvestment projects, mergers and acquisitions, joint ventures and new forms of investment (NFIs), and recently added venture capital (VC) backed FDI.  The report showed significant growth in all key FDI indicators compared to the previous year, where the estimated value of FDI capital flows to Dubai exceeded AED 26 billion out of the 618 announced FDI projects in 2021, with a growth rate of 5.5% compared to 2020. Both FDI projects and FDI job creation increased significantly by 36% in 2021 compared to 2020, with an estimated 24,868 jobs created in 2021 compared to 18,325 in the previous year.

His Excellency Helal Al Marri, Director General of Dubai’s Department of Economy and Tourism, stressed that Dubai’s top ranking in the world for an important economic indicator such as FDI attraction was made possible by the efforts of Dubai’s leadership to develop public-private partnerships, which have become a key factor in the emirate’s sustainable development.

Fahad Al Gergawi, Chief Executive Officer of the Dubai Investment Development Agency (Dubai FDI), said: “Dubai’s regional and global excellence in terms of FDI attraction is the fruit of vision and leadership on the part of the leadership, which has manifested itself in setting a clear goal in Dubai Plan 2021 to make the emirate the preferred global destination for FDI, and in building a solid foundation for the emirate’s economy, which has proven time and again to be efficient, resilient, stable and sustainable despite global challenges.” Al Gergawi said Dubai’s emergence as the world’s number one destination for new FDI projects in 2021 was an unprecedented achievement, as the city beat London and Singapore by a notable margin of more than 50 FDI projects for the first time. “Dubai has successfully attracted a record share of total global greenfield FDI projects for the second consecutive year. The share of FDI attracted to Dubai surpassed the two per cent barrier for the first time in 2020 at 2.1 per cent, and reached a new high of 2.8 per cent in 2021,” added Al Gergawi.

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