Dubai has further reinforced its position as the world’s leading hub for foreign direct investment (FDI).
According to the Financial Times Ltd’s “fDi Markets” data, Dubai ranked No.1 overall in global Greenfield FDI projects attraction in 2023, the third successive year it has achieved this ranking.
The city was also No.1 globally within key clusters including consumer goods, energy, e-commerce, and tourism for Greenfield FDI projects attraction, Greenfield FDI capital attraction, and jobs created through FDI attraction.
Dubai's economic agenda aims to double its economy by 2033. In 2023, it attracted 1,070 Greenfield FDI projects, surpassing Singapore and London. Dubai's global share in attracting such projects tripled in five years, reaching 6% in 2023. It ranked first globally for HQ FDI projects for two consecutive years, with 60 projects in 2023. Dubai also improved its ranking in job creation and Greenfield FDI capital attraction, now ranking fourth and fifth respectively globally. These numbers underscore Dubai's robust economic growth and appeal to international investors.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum emphasized Dubai's sustained leadership in global FDI, attributing it to the city's ability to create opportunities and its commitment to doubling the economy by 2033.
Helal Saeed Almarri, Director-General of DET, credited Sheikh Mohammed bin Rashid Al Maktoum's guidance and collaborative efforts for Dubai's premier status in FDI attraction. Looking forward, Dubai aims to enhance its global competitiveness and business ecosystem.
Hadi Badri, CEO of DEDC, highlighted Dubai's stable investment environment and success in attracting talent and headquarters projects, reinforcing its appeal to multinational corporations and commitment to sustainable growth.
In 2023, Dubai witnessed a robust growth in FDI projects, totaling 1,650, up by 39% from 2022. These included Greenfield FDI, NFIs, M&A, reinvestments, VC-backed FDI, and Greenfield joint ventures. Job creation through FDI increased by 15.5%, driven by retail, business services, headquarters, sales, marketing support, and manufacturing.
Technology sector saw 58% high and medium-tech projects. Dubai led globally in AI, FinTech, cloud computing, cybersecurity, and e-commerce job creation. Top sectors attracting FDI were financial services, business services, consumer products, software, IT services, and textiles, indicating a preference for service-oriented industries. Business services retained prominence, with retail showing notable growth.
News Source: Emirates News Agency
