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Sunday, October 07, 2018 11.05AM /Dubai FDI
Monitor via Gulf News
The spike in first six months
enough to place emirate among top 10 recipients
Dubai pulled in Dh17.76 billion by way of
foreign direct investments (FDI) 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 — and
placing the emirate in third spot worldwide.
These represent a 26-per cent gain in
value over the first half of 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).
Total FDI flows were Dh27.3 billion in
2017, 7 per cent up compared to 2016.
Preferred Location
“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 clearly reflects
investor confidence in Dubai’s economy,” said ShaikhHamdan Bin Mohammad Bin
Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council,
in a statement.
The latest data show that 43 per cent of
all FDI projects in the first-half involved medium- to high-technology,
according to the classification adopted by the Organisation for Economic
Co-operation and Development (OECD).
Financial Times – fDi Markets: FDI into Dubai recorded a
26% increase in 1st half of 2018 compared to the same period last year. The
emirate ranked 10th globally in FDI capital flows. pic.twitter.com/mGiwK5Peqc Oct 6, 2018
“Strategic” projects accounted for 56 per
cent of total investment projects that Dubai attracted in the same period.
Dubai’s ability to maintain its position
as one of the top global FDI destinations reflects confidence of the global
investor community in its business environment & its ability to offer
diversified investment opportunities in key growth sectors.
According to ‘Dubai FDI Monitor’ data
issued by #Dubai FDI, Dubai ranks third globally in the number of greenfield
FDI projects during the 1st half of 2018. The number of FDI projects surged to
248.
According to 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.”
Top Source Countries
The US, India, Thailand,
Spain and the UK were the top source countries for FDI capital. The US also topped the list in terms of investment
projects, followed by France, the UK, India and Switzerland.
The success
of Dubai’s economy & its unique achievements is a result of the
ambitious vision of HH Sheikh Mohammed . The rise in FDI inflow into Dubai is
part of that success, which reflects investor confidence in the emirate’s
economy.
Dubai’s ability to maintain
its position as one of the top global FDI destinations reflects confidence of
the global investor community in its business environment & its ability to
offer diversified investment opportunities in key growth sectors.
Fahad Al
Gergawi, CEO of Dubai FDI, said: “We are confident about the future prospects
for enhancing FDI flows, especially following the issuance of new laws that
enhance Dubai’s competitiveness as a preferred global destination for
investment and an incubator for innovation and creativity, including laws
allowing 100 per cent foreign ownership of companies, 10-year residency visas
for investors, innovators, professionals and top-performing students.”
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