Dubai – Mubasher: Foreign direct investment (FDI) capital inflows to Dubai rose 41% year-on-year to AED 38.5 billion ($10.48 billion) in 2018, the crown prince of Dubai and chairman of the Executive Council of Dubai said.
The record FDI inflows have lifted the emirate’s ranking to the sixth place from the 10th in global capital flows into greenfield projects, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum added, according to Government of Dubai’s website.
“Dubai has also attracted 523 FDI projects in 2018, an increase of 43% over 2017, elevating the emirate’s global ranking in the number of new investment projects to third from fourth,” Al Maktoum noted.
The emirate has been named the world’s leading city in global FDI during 2018, surpassing London, Paris, Dublin, and Singapore, Al Maktoum indicated, citing a report published by the Financial Times (FT).
Global FDI inflows have declined 19% in 2018 as reported by the United Nations Conference on Trade and Development (UNCTAD), director general of Department of Economic Development (DED), Sami Al Qamzi, said.
The US maintained its leading position in FDI capital flows to Dubai with 37%, followed by India, Spain, China, and the UK which made up 12%, 9%, 7%, and 5%, respectively.
