His Highness Sheikh\u00a0Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, said that the significant growth in foreign direct investment (FDI) into Dubai is a testament to global confidence in Dubai’s economy. \u201cDubai is among the top three global FDI locations thanks to the vision of His Highness\u00a0Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which created a global investment environment in Dubai that keeps pace with the aspirations of investors, entrepreneurs and technology shifts in the region and the world,\u201d he added.<\/p>\n
HH Sheikh Hamdan announced that Dubai has recorded exceptional growth during the first half of 2019, with FDI projects worth a record AED 46.6 billion in that period, a growth of 135% compared to the same period last year. During the first half of 2019, Dubai has continued to progress in global rankings of the most attractive cities for FDI, ranking third in the world in attracting FDI, in terms of both capital flows and the number of greenfield projects. The FDI flows and rankings results were revealed by Dubai Investment Development Agency (DUBAI FDI), an agency of Dubai Economy-Government of Dubai, based on the Financial Times\u2019 fDi Markets, the world\u2019s leading online platform that monitors data on capital flows and greenfield FDI projects around the world and the \u2018Dubai FDI Monitor\u2019 data.<\/p>\n
HH Sheikh Hamdan pointed out that Dubai has been particularly successful in attracting advanced technology and specialised talent in the first half of 2019. \u201cThis is a proud achievement for Dubai. With the growth of talent and technology, Dubai will accelerate its drive to become the smartest and most sustainable city of the future,\u201d he added. According to \u2018Dubai FDI Monitor\u2019 data, FDI projects with High and Medium Technology component reached 47% of total FDI projects in the first half of 2019, based on the Organisation for Economic Co-operation and Development (OECD) classification criteria. Moreover, FDI projects with High and Medium Technology component were at the forefront of creating new jobs with a 48% share of the 24,294 new jobs created by FDI projects in the first half of 2019.\u00a0 HH Sheikh Hamdan pointed out that Dubai ranked ninth globally in job creation through FDI, according to the Financial Times\u2019 fDi Markets data. \u201cThis achievement will further strengthen Dubai\u2019s position as one of the most attractive destinations for promising talent, thanks to our leadership\u2019s initiatives to develop legislative frameworks that enhance the role of talent in building a knowledge and innovation economy in Dubai and the UAE,\u201d he concluded.<\/p>\n
Sami Al Qamzi, Director General of Dubai Economy, stated that Dubai has maintained a leading position among top global cities in FDI attraction over the past five years, which reflects what Dubai offers in terms of diverse investment opportunities in key economic sectors. \u201cThe FDI results of the first half of 2019 is a testament to the Dubai economy\u2019s competitiveness and resilience in the face of global shifts and challenges that have adversely affected the flows of FDI globally in recent years,\u201d he added.\u00a0 Al Qamzi\u00a0 further stressed that that Dubai\u2019s rise in global FDI rankings confirms the growing confidence of the global investment community in Dubai\u2019s\u00a0 investment environment, under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and the directives\u00a0 of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, which has played a key role in enhancing\u00a0 Dubai\u2019s FDI\u00a0 readiness and attractiveness to become the preferred location for global business and startups\u2019\u00a0 growth and expansion,\u201d he added.<\/p>\n
Al Qamzi pointed out that the growth of FDI flows into Dubai comes at a time when there have been many positive developments in the UAE\u2019s investment environment. \u201cA new FDI Law, numerous economic incentives and concerted efforts to deepen cooperation and partnerships with the private sector have all contributed to Dubai\u2019s record FDI achievements,\u201d said Al Qamzi. \u201cDubai is classified as a Major City in international rankings for top FDI locations, ranking third in overall rankings and second in economic potential in the latest \u201cGlobal Cities of the Future 2018-2019″, report by the Financial Times\u2019 fDi Benchmark\u00a0 study, thanks to Dubai\u2019s strategic initiatives across key economic sectors, which offer current and future opportunities for the investor community,\u201d he concluded.\u00a0<\/strong><\/p>\n Fahad Al Gergawi, Chief Executive Officer of DUBAI FDI, reiterated that the record FDI results achieved by Dubai in the first half of 2019 are in line with expectations, thanks to Dubai\u2019s leadership, which has led to remarkable 2018 results, the highest in 10 Years. Al-Gergawi pointed out that FDI projects are characterised by directing capital, technology and talent to productive and operational capacity, which reflects Dubai\u2019s investor readiness and promising investment opportunities. \u201cDubai supports global business and startup growth and expansion, making it a gateway to regional and global markets, and a global hub for talent, innovation and entrepreneurship,\u201d he added.<\/p>\n Al Gergawi revealed that based on \u201cDubai FDI Monitor\u201d data analysis, Dubai\u2019s diverse economy has been particularly successful in creating new investment opportunities in terms of strategic investment projects that reflect global business growth and expansion in Dubai. \u201cDubai has attracted 257 FDI projects in the first half of 2019. 61% of total projects were greenfield, followed by 27% new forms of investments (NFIs), 6% reinvestment, 5% mergers and acquisitions (M&As), and 1% for new joint ventures, with Strategic FDI projects accounting for 62% of total FDI capital flows to Dubai in the first half of 2019,\u201d said Al Gergawi. As for FDI source countries, according to \u201cDubai FDI Monitor\u201d data, in the first half of 2019, the United States continues to lead FDI capital flows to Dubai by 34%, while China has risen to the second position with 28%, followed by the UK with 11%, France with 5% and Singapore with 5%. The five countries together accounted for 83% of total FDI capital flows to Dubai in the first half of 2019.<\/p>\n Al Gergawi highlighted that notable FDI deals were recorded in Dubai during the first half of 2019 including the Uber acquisition of Careem, Mastercard International investment in\u00a0Network International. The emirate saw capital flows worth AED 13 billion during the year. Major FDI projects announced during this period included the \u201cZhejiang China Commodities Group\u201d investment in the new \u2018Merchant Market\u2019 joint venture and \u201cChina Co-Op Group\u201d investment in the construction of a new food processing plant in Dubai. Both projects amount to AED 12.5 billion in greenfield FDI. Moreover, \u201cDubai FDI Monitor\u201d data indicates to increased corporate reinvestments in Dubai, such as the new HSBC Middle East Headquarters project with an estimated value of AED 918 million, Siemens\u2019 new Solar Hydrogen Facility with an estimated value of AED\u00a0 248 million, the BMW Training Centre project with an estimated value of AED 29 million, along with large construction investments like\u00a0 the W Palm Hotel by Marriott that carries an estimated value of AED 745 million.\u201c Full data and analysis of FDI flows into Dubai including capital, project profiles and global rankings are available on www.DubaiFDImonitor.ae, a smart service\u00a0 by Dubai FDI that provides access to the latest FDI data to investors around the clock,\u201d said Al Gergawi.<\/p>\n Al Gergawi pointed out that FDI inflows to Dubai will help shed light on the trends that shape the future growth of investment flows to Dubai as part of the \u2018Dubai Investment Week\u2019 programme held under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council. The week-long programme of events will showcase how Dubai has transformed the challenges of future cities into opportunities for growth, partnership and innovation through a rich agenda that includes four strategic forums. These include the \u2018FDI Readiness Forum\u2019, a capacity-building forum dedicated to investment promotion professionals; the \u2018Impact FDI Forum,\u2019 to be held in partnership with the\u00a0Dubai Future Foundation; the \u2018FDI Policy Forum,\u2019 to be held in partnership with Mohammed bin Rashid School of Government, as well as sector focused investment opportunity forums organised in partnership with the Dubai Health Authority (DHA) and Dubai Multi Commodities Centre (DMCC).<\/p>\n \u2018Dubai Investment Week\u2019 will be held from September 29 to October 3, 2019 under the theme \u201cInvesting in the City of the Future\u201d. The opening Ceremony of the event, which will be held on Monday 30 September at\u00a0Jumeirah Emirates Towers, will feature international keynotes, dialogue between leaders and the Impact FDI Awards ceremony.<\/p>\n","protected":false},"excerpt":{"rendered":" His Highness Sheikh\u00a0Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, said that the significant growth in foreign direct investment (FDI) into Dubai is a testament to global confidence in Dubai’s economy. \u201cDubai is among the top three global FDI locations thanks to the vision of His […]<\/p>\n","protected":false},"author":1,"featured_media":22970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/22969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=22969"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/22969\/revisions"}],"predecessor-version":[{"id":22971,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/22969\/revisions\/22971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/22970"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=22969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=22969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=22969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}