Dubai’s FDI soars 26% to Dh17.76b

Spike in first 6 months puts emirate among top 10 in global rankings

Dubai pulled in Dh17.76 billion in foreign direct investments in the first six months of the year, enough to place it in 10th spot in the global rankings in value terms.

Based on greenfield projects approved or launched involving FDI, the tally is 248, placing the emirate in third spot worldwide.

These represent a 26 per cent gain in value over first-half 2017 and 40 per cent in terms of projects, according to the “Dubai FDI Monitor” data issued by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED).

In 2017, Dubai ranked 4th in greenfield FDI projects, 10th in FDI capital flows and 5th in FDI reinvestment projects. Total FDI flows were Dh27.3 billion in 2017, 7 per cent up compared to 2016.

“The rise in FDI capital and projects reinforces Dubai’s leading position as the preferred global location for global businesses and startups pursuing growth and expansion and reflects investor confidence in Dubai’s economy,” said Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.

Sami Al Qamzi, Director-General of DED, said: “FDI flows in the first-half reaffirm the sustained growth of Dubai economy, and the diversity, competitiveness and attractiveness of the emirate.”