Dubai ended 2023 with a record, with 1070 global Greenfield FDI projects. It was 142% higher than the second-placed Singapore.
Dubai continues to lead the way in attracting foreign direct investment (FDI), solidifying its position as a global economic powerhouse. Dubai ranked first worldwide in attracting global greenfield FDI projects in 2023. This came as the third consecutive year it has achieved this remarkable feat. This substantial influx of FDI projects underscores Dubai’s attractiveness to international investors. Its status as a preferred destination for business expansion and investment.
Additionally, over the past five years, Dubai’s share in attracting global greenfield FDI projects has more than tripled. Surging from 1.7 per cent in 2019, it has hit an impressive 6 per cent in 2023. This remarkable growth trajectory highlights the city’s enduring appeal and its ability to generate new opportunities on a global scale.
The Secret to FDI Success
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai emphasized the significance of Dubai’s achievement in securing the top ranking for global greenfield FDI projects. He noted that this accomplishment underscores Dubai’s ongoing commitment to fostering a conducive environment for business growth and investment. Dubai emanated progress with a robust growth of 39 per cent compared to the previous year. These projects encompassed various forms of investments new forms of investments (NFIs), mergers and acquisitions (M&A), reinvestments, etc.
One of the key drivers behind Dubai’s success in attracting FDI is its stability, cutting-edge infrastructure, and dynamic business environment. These factors have positioned Dubai as a focal point for investment, enterprise, and talent, attracting investors from around the globe seeking growth opportunities and strategic partnerships. The top sectors for FDI in Dubai include financial services, business services, consumer products, software and IT services, and textiles. Moreover, the top five source countries for FDI into Dubai in 2023 were Canada, the United States, Saudi Arabia, the United Kingdom, and India, reflecting the city’s diverse investor base and global appeal.
Dubai’s enduring confidence as a premier global investment destination is further underscored by its strategic initiatives aimed at enhancing its investment and business climate. Through successful collaborations with stakeholders and international partners, Dubai continues to strengthen its position as a leading global hub for high-quality FDI, fostering economic growth, innovation, and prosperity for the emirate and beyond.
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