Dubai records AED25bn FDI in 2020
Dubai, UAE - Dubai recorded exceptional inflows of foreign direct investment (FDI) in 2020 with 455 projects worth AED24.7bn, according to data from the Dubai FDI Monitor released by the Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy.
An estimated 18,325 new jobs were created by inbound FDI in 2020, according to the Dubai FDI Monitor, which uses the Organisation for Economic Cooperation and Development’s (OECD) methodology to track FDI data.
This performance places Dubai among the top global FDI locations in 2020, ranking first in the Middle East and North Africa (MENA) region and fourth globally in attracting greenfield FDI capital, according to the Financial Times’ fDi Markets, the leading global source of data on greenfield FDI.
The 455 FDI projects implemented in Dubai in 2020 exceed the annual average of 441 over the past five years, reaffirming Dubai’s strong FDI location fundamentals as well as its economic resilience, sectoral diversity, and FDI future-readiness.
Dubai continued to lead regional and global FDI locations in facilitating global business growth and expansion, ranking first in the MENA region and third globally in attracting greenfield FDI projects, according to fDi Markets. Dubai also achieved a record global market share in greenfield FDI projects, attracting 2.1 per cent of all such projects in 2020, exceeding the 2 per cent mark for the first time.
Sheikh Hamdan bin Mohammed bin Rashid al Maktoum, Dubai Crown Prince and chairman of the Executive Council of Dubai, said, “Dubai’s regional leadership and global prominence in FDI attraction and future economic opportunities for global businesses and startups are the result of the great vision of His Highness Sheikh Mohammed bin Rashid al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, that laid solid foundations for Dubai’s emergence as a smart and sustainable city of the future, the main gateway to regional growth markets, and a pivotal hub in the global economy.’’
He added, “Dubai’s sustained FDI flows and its leading position in regional and global rankings as a major FDI destination in 2020, reflect the continued attractiveness of Dubai’s investment environment and the confidence of the investor community in Dubai’s future economic potential. Dubai’s success in combating the COVID-19 pandemic and starting the recovery phase in record time is a testament to our commitment to provide the best investment environment in the world and transform global challenges into new opportunities for growth, driven by technology and innovation, and powered by Emirati and global talent, making Dubai the best place in the world to work, live, and invest.’’