Dubai FDI gains UN recognition for best practices in tracking investments

Dubai FDI gains UN recognition for best practices in tracking investments

The Dubai Investment Development Agency (Dubai FDI) at the Department of Economy and Tourism (DET) gained international recognition for its successful efforts in capturing FDI trends and patterns toward positioning the city as a global investment destination.

The ‘Dubai FDI Monitor’ open data initiative was recently recognised as a best practice among investment promotion agencies (IPAs) for monitoring and evaluation by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).

The first city-level FDI monitoring and reporting system in the world, Dubai FDI Monitor tracks and records five different types of FDI in real-time, including greenfield FDI and new forms of investments using advanced methodology and smart features.

The UNESCAP featured Dubai FDI Monitor in its Handbook on Policies, Promotion, and the Facilitation of Foreign Direct Investment for Sustainable Development in Asia and the Pacific, which highlights FDI best practices and case studies on FDI attraction, promotion and facilitation. For Dubai FDI, the recognition comes within months of announcing its annual results and rankings, where Dubai achieved the top spot in the world in attracting FDI in 2021, surpassing London and Singapore for the first time.

"Dubai’s remarkable FDI performance and global recognition are a testament to its efficiency, resilience, stability and sustainability. Under the guidance of the wise leadership, the emirate has emerged as a role model for global best practices in attracting FDI and providing promotional services and facilitation. This esteemed recognition for the UNESCAP consolidates Dubai’s ambitious journey towards nurturing close cooperation with global investors and partnerships with FDI source countries,"

said Fahad Al Gergawi, CEO of Dubai FDI.

Dubai FDI is the first IPA in the world to publish real-time FDI data using innovative and cost-effective techniques to promote Dubai. Dubai FDI Monitor enables Dubai FDI to provide investors with timely and accurate FDI data and analytics as well as clarity on the investment environment to support effective and fact-based decision-making. Investors can leverage the open data platform to assess Dubai’s competitiveness as an investment destination and identify promising and emerging sectors.

News Source: Emirates News Agency

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