UAE - Mubasher: Dubai has attracted foreign direct investments (FDI) with expected capital of AED 10 billion during the first five months of 2020, the CEO of Dubai Investment Development Agency (Dubai FDI), Fahad Al Gergawi, announced.
The Dubai FDI Monitor preliminary data registered 155 newly announced projects during the January-May period, Al Gergawi referred during his interview with CNBC on Wednesday, 24 June.
Dubai was globally placed in the second position in greenfield FDI capital flows and third in the number of FDI projects during the first five months, reflecting its leading position in attracting FDI despite coronavirus (COVID-19).
The CEO of Dubai Investment Development Agency added that Dubai is the only city in MENA ranked among the top 20 FDI destinations in fDi Markets’ Global Venture Capital FDI Ranking 2020 report.
Al Gergawi further remarked: "One of the key positive indicators which represent a global vote of confidence from investors is the sustained FDI flows into Dubai-based startups, which exceeded AED700 million during the same period."
"We are working closely with investors to support the realisation of announced FDI projects, which witnessed delays due to the pandemic. Some of the FDI projects already in the pipeline will be realised this year depending on both the sector and public health measures," he added.
