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Emirates News Agency – Dubai retains its position as the top global destination to attract foreign direct investment projects in the first half of 2023.
– 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.
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.
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.
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.
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According to data and statistics from the COP28 conference, indigenous peoples make up less than 5% of the world’s population, but they protect 80% of global biodiversity.
Brazil’s Minister of Indigenous Peoples, Sonia Guajara, emphasized the importance of the role of indigenous peoples in combating climate change while participating in the global conference that ends tomorrow at Expo City in Dubai: “We saw a big event. In a positive step globally with the ratification of the Paris Climate Agreement concluded in 2015, the traditional knowledge of indigenous peoples and local communities has been recognized as reliable scientific evidence.
The Brazilian minister continued, “This recognition is a tribute to the way of life of indigenous peoples, which is based on living in complete respect and harmony with nature, including the preservation of water, trees, animals and the richness of the land. , our indigenous culture is naturally connected to everything that exists in nature.”
Kwajajara emphasized her commitment to spreading awareness about the importance of indigenous peoples, the “National Coalition of Indigenous Ancestral Warriors” established in the past three years, which includes indigenous women and is the largest group of indigenous women participating in history. Conferences of Parties.
Studies indicate that rates of deforestation in tribal-controlled lands are two to three times lower than in other protected areas.
The lands of indigenous peoples and local communities account for at least 24% of the total carbon stored above ground in tropical forests worldwide, playing an important role in providing suitable conditions to meet climate challenges.
To achieve this, the COP28 leadership took the initiative to establish a dialogue with indigenous peoples as part of the solution to the climate crisis.
• Indigenous peoples represent 5% of the world’s population, but they protect 80% of biodiversity.
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Emirates Nuclear Company has launched a roadmap to reduce the carbon footprint of its Barakah plants.
Emirates Nuclear Corporation launched a roadmap to reduce the carbon footprint of all operations, whether at the corporation’s facilities or the locations of Barakah nuclear plants, and began developing plans for this initiative. The US Department of Energy’s “Idaho National Laboratory” is one of the largest and most scientific research institutions in the world.
This is in line with the UAE’s strategic initiative to achieve climate neutrality by 2050 and the “Nuclear Energy for Climate Neutrality” initiative launched by the Corporation and the International Atomic Energy Agency.
The roadmap, launched during the “Nuclear Energy for Climate Neutrality” summit on the sidelines of the Conference of the Parties to the United Nations COP28 Framework Convention on Climate Change, will include setting the path for the implementation of the Emirates Nuclear Corporation. Reduce its carbon footprint and use advanced technology to achieve climate neutrality for all its operations. And the expertise of the American Idaho Laboratory Group, particularly the Barakah nuclear power plants developed by the corporation in Abu Dhabi, is planned to provide 25% of this. Once the UAE’s electricity requirements are fully operational, it will significantly reduce the carbon footprint of the country’s energy sector, enabling sectors and businesses to be part of a carbon-free economy by producing the environmentally friendly electricity required to obtain clean energy certificates. In Abu Dhabi.
The roadmap also includes developing ways to reduce the carbon footprint of various activities at the Baraka plant site, such as transportation, energy storage facilities and carbon capture. Emirates Nuclear Energy Corporation is exploring opportunities to expand nuclear power projects within and outside the UAE. In addition to advanced nuclear technologies including mini-modular reactors and hydrogen production using nuclear energy.
The Foundation’s focus includes international cooperation to contribute to strengthening the world’s journey towards climate neutrality, reducing the carbon footprint of the transport and heavy industry sectors, in addition to converting coal plants to nuclear power plants.
The roadmap for reducing the company’s carbon footprint includes new technologies, funding and incentives, communication with partners, awareness campaigns, governance, policies and regulations, research, development and innovation, local and international partnerships and ecosystem. , and developing human skills.
Mohammed Al Hammadi, Managing Director and CEO of Emirates Nuclear Corporation, said, “Together with the American Idaho National Laboratory, we are making progress towards achieving our goals of contributing to achieving climate neutrality in the UAE by 2050. A global process to transition to environmentally friendly energy sources.” At Emirates Nuclear Corporation we plan beyond the broad reduction of the carbon footprint carried out by the Barakah plants and seek to increase our contribution to achieving climate neutrality. and help contribute to achieving climate neutrality.
He continued: “In addition, we will continue to strengthen international cooperation to increase the productivity of nuclear energy and improve its existing and new technologies, with the aim of supporting the global process of transition to energy sources without carbon emissions. Confronting climate change.”
Emirates Nuclear Energy Corporation and the American Idaho National Laboratory have decided to collaborate to develop systems for the production of hydrogen, ammonia, oxygen, water and steam on a commercial scale as part of their vision for a future of carbon-free exports. to meet the growing global demand for hydrogen and ammonia.
For his part, John Wagner, Director of the US Idaho National Laboratory, said: “The US Idaho National Laboratory has a recognized scientific leadership position in the design, development and deployment of nuclear energy technology worldwide. Through this collaboration, we will. To support the goals, leverage our capabilities and expertise in the nuclear energy sector through renewable and climate neutral systems.
The Corporation and the International Atomic Energy Agency, with the support of the International Atomic Energy Agency, launched the “Nuclear Energy for Climate Neutrality” initiative during the World Nuclear Energy Conference in September 2023 to double nuclear power’s production capacity and improve its efficiency. Contribute to achieving global goals to ensure energy security and reduce emissions. As the next phase of the UAE’s peaceful nuclear energy program, Emirates Nuclear Corporation is focused on exploring and attracting strategic investments in nuclear energy, both domestically and internationally, with the aim of supporting the country’s growth and development.
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Mohammed bin Rashid: UAE’s sustainability and climate change efforts are constant in our comprehensive development journey
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the Cabinet meeting held in conjunction with the COP28 conference at Dubai’s Expo City.
In a blog post on the “X” site, His Highness said: At the beginning of the “Cabinet Meeting”, we reviewed the results of the state’s national efforts in the field of environment, including more than 120 decisions on sustainability, climate change, The development of our natural resources published by the Council over the last five years… and we launched more than 60 new decisions in 2023 alone, creating a coherent set of policies, legislation, strategies and initiatives. Efforts to participate with the world in addressing the effects of climate change and its file.
His Highness added: National strategies and policies in the field of environment and climate change have yielded results, as the country ranks second in the world in energy transition, in the Global Green Future Index 2023 “GFI”, and the sixth in the world per capita solar energy consumption rate, and it is worth 50 billion dollars. It has invested over .70 billion in clean energy projects in countries, pledging to invest an additional $50 billion in the sector over the next decade.
His Highness continued: The UAE continues to be active and proactive in the field of sustainability and climate change, and our efforts in this field are parallel to those of economic development, and are an essential and sustainable component of our comprehensive and continuous development. Process, God willing.
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