Thursday, July 18, 2024

Emirates News Agency – Dubai retains its position as the top global destination to attract foreign direct investment projects in the first half of 2023.

Date:

– Hamdan Bin Muhammad:
– “Dubai’s maintenance of a global leadership position in attracting new FDI projects reflects the vision and methodology of Mohammed bin Rashid in creating growth opportunities, providing real added value to the global investment community and cementing its position as a hub for innovation and creativity. .”

– “The results achieved and Dubai’s clear superiority in the global investment arena are the result of its total commitment to create an optimal environment for investment alongside continuous efforts to improve its infrastructure and adopt the latest solutions and technologies.”

– “We continue to strengthen our exemplary partnerships with the private sector and create and implement flexible legislative and regulatory frameworks, while consolidating the confidence of investors and providing all the guarantees that will help them succeed in their projects and businesses in the short and long term. ”

The emirate attracted 511 new foreign direct investment projects in the first half.
Dubai’s share in attracting these new projects globally was 6.58%, which is 3.83% higher than the results recorded during the same period last year.
Dubai rose from eighth to sixth place globally in attracting capital from foreign direct investment projects, with the value reaching 20.87 billion dirhams between January and June this year.
Dubai ranks fourth in the world in providing jobs as a result of foreign direct investment projects, providing 24,236 opportunities in the first half of 2023 with a growth of 43.3%.

Dubai, 8 October / WAM / Dubai has maintained its position as the top global destination for attracting new foreign direct investment projects and achieved an important global milestone as the emirate attracted 511 of these projects in the first half of 2023. Financial Times – FDI Markets About Foreign Direct Investment Markets, a comprehensive online database of new foreign investments worldwide.

Dubai continues its success in setting new performance standards in attracting investments globally, surpassing second-place Singapore with 325 projects.

In the first half of 2023, Dubai’s share in attracting these new projects globally reached 6.58%, which is 3.83% higher than the results recorded in the same period last year.

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This development helps consolidate the emirate’s position as a major hub for investment, and aligns directly with Dubai’s D33 economic agenda, which aims to double the size of the emirate’s economy over the next ten years.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Governing Council of the Emirate of Dubai, said: Maintaining a global leadership position in attracting new foreign direct investment projects reflects Dubai’s role in creating and delivering growth opportunities. A true added value to the global investment community, thanks to the vision and guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, and efforts focused on diversification are cementing the Emirate’s economy and its position as a hub for innovation and creativity.
His Highness added: The results achieved and Dubai’s clear superiority in the global investment arena are the result of its total commitment to creating an optimal environment for investment alongside continuous efforts to improve its infrastructure and use the latest solutions and technologies. All this creates a future full of opportunities for progress and prosperity, and Dubai enjoys the confidence of investors around the world to pursue a path of sustainable development in line with a clear roadmap defined by Economic Agenda D33 and work to create an investment environment, but not only a key driver of the global economy and a global hub for trade and investment. It encourages them to be partners in writing new success stories that cement Dubai’s position as the capital.
The Crown Prince of Dubai lauded the role of the Dubai economy and tourism in promoting Dubai’s unique investment climate and commended efforts from government sector or private sector stakeholders to achieve this important economic achievement. He said: We continue to strengthen our exemplary partnerships with the private sector, and develop and implement a flexible legal and regulatory framework, while providing all the assurances that ensure investors’ confidence and make their projects and businesses successful in the short and long term. Period.

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According to the Dubai Department of Economy and Tourism’s Foreign Investment in Dubai data, the emirate recorded a total of 880 foreign direct investment projects between January and June this year, a growth rate of 70% year-on-year. The Department’s foreign investment data is based on monitoring, evaluating and analyzing all types of foreign direct investment projects announced in the emirate.

The data indicates that new FDI projects in Dubai represent 65% of the total projects announced in this category, and the reinvestment rate in these projects will increase from 3% to 4.4% in the first half of 2022. Same period. From 2023 onwards.

Dubai has recorded an annual increase in attracting global foreign direct investment capital, reaching 20.87 billion dirhams (US$5.68 billion), contributing to its rise from eighth place globally in the first half of 2022 to sixth place in the same period. According to Financial Times – FDI Markets Data on Foreign Direct Investment Markets.

Dubai has topped the global rankings for attracting business headquarters within foreign investment projects, surpassing London and Singapore in attracting the headquarters of 33 major brands in the first half of the year. Status as an attractive environment for business.

Hilal Saeed Al Marri, Director General of the Department of Economy and Tourism in Dubai, said: We intend to continue and intensify our efforts to achieve the ambitious goals of the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Salman. Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, may God protect him.

Al Marri added: The increase in foreign direct investment projects announced in the first half of 2023 reflects the level of efforts to promote the emirate’s competitive advantages, its incubator environment for business globally and various ambitious initiatives aimed at attracting investors. and decision makers from around the world.

Financial Times – FDI market data on foreign direct investment markets confirms that the emirate has made a qualitative improvement in providing jobs related to these projects, moving from ninth place globally in the first half of 2022 to fourth place in the same period. year.; After a significant increase in employment opportunities in the first half of 2023, it was 43.3% compared to the same period last year, which equates to 24,236 new jobs in foreign direct investment projects.

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The contributions of the emirate’s six key sectors to foreign direct investment-related job creation in the first half of 2023 are a testament to Dubai’s efforts to attract and retain skilled workers in line with the department’s economic diversification efforts. Economy and Tourism in Dubai.

The business services sector contributed 5,212 jobs (21.5%), the software and information technology sector 3,525 jobs (14.5%), the food and beverage sector 3,090 jobs (12.7%), and the financial services sector 1,813 jobs. (7.5%) Consumer goods sector has 2,104 jobs (8.3%) and real estate sector has 921 jobs (3.8%).

Foreign investment evidence from the economy and tourism sector indicates that Dubai continues to attract foreign direct investment projects based on medium and high technology, reaching 63% and 37% based on simple technologies in the first half of 2023. respectively, similar to their rates recorded in the previous year.

The data shows that the largest percentage of foreign direct investment projects in Dubai depend on medium and high-end technology, confirming the emirate’s position as a global hub for projects with the latest technologies and specialized skills in the digital economy.

In terms of major sectors attracting FDI, financial services sector (52%), business services sector (12.8%), software and information technology sector stand out in proportion. (7.5%), real estate sector (6.9%), and food and beverages (3%).

These five sectors contribute 82% of total FDI inflows and 70% of total FDI projects.

Business services sector (22.4%), software and information technology sector (17.8%), food and beverage sector (12.2%), financial services sector (9%) and consumer goods (8.3%) are the leading sectors attracting FDI projects.

Bill Dittman
Bill Dittman
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