The past couple of years might have been an uphill task to navigate for many cities across the world, but Dubai has been proving its mettle time and again, standing out in global rankings and climbing international positions. The most recent addition to the list is the emirate’s reinstated status as the world’s leading foreign direct investment (FDI) hub.
A recent report by the Dubai Media Office details the achievement, stating that the emirate has retained its first rank globally for attracting FDI projects during H1 2022.
“In a record first half achievement for the emirate, Dubai attracted 492 FDI projects during the first six months of 2022, an 80.2% increase compared to the same period in 2021, according to data published by Dubai’s Department of Economy and Tourism (DET),” Media Office reported.
According to the Financial Times FDI Markets (an online database on cross-border greenfield investments), Dubai also ranked first globally in attracting greenfield FDI projects during the same period this year. In the first half of 2022, Dubai saw FDI inflows of AED 13.72 billion, representing a 14.6% increase over the same period last year, it said.
Meanwhile, FDI investments and projects created 15,164 new jobs in H1 2022, a 33.5% increase over H1 2021, and Dubai maintained its lead in FDI-related employment among Middle Eastern countries.
Applauding this progress, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, was quoted as saying,
“The progressive vision and farsighted policies of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have made Dubai a magnet for foreign investment. Dubai’s record FDI inflows and consistent top rankings testify to investor confidence in its economic stability and bright growth prospects and reinforce its status as a strategic partner to foreign investors.”
The progress made thus far is a piece of good news for businesses and aspiring entrepreneurs across the world who look forward to flourishing in a highly empowering landscape like Dubai. As an enabler of FDI and a fertile ground for businesses across industries to grow and prosper, Dubai’s rankings are bound to boost confidence and encourage more entrepreneurs to make this city their new home.
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