UAE - Mubasher: Dubai has led the Middle East and North Africa (MENA) region in attracting foreign direct investments (FDI), according to a press release on Tuesday.
Dubai ranked 11th globally among the top 20 destinations in terms of venture capital investments, as shown by Global Venture Capital FDI Ranking 2020 report of Financial Times’ fDi Markets.
The report stated that the emirate has been placed in the third position globally in the number of greenfield FDI projects and fourth in FDI capital flows.
During the first half (H1) of 2020, the emirate saw 190 FDI projects worth AED 12 billion in a number of main sectors, including technology and e-commerce, ‘Dubai FDI Monitor’ data revealed.
The data reflected that 50% of the total announced projects are greenfield FDI projects.
The US topped the source countries in terms of FDI capital flows to Dubai in H1-20, representing 25% of the total capital flows.
Meanwhile, the US, France, Belgium, the UK, and China accounted for 68% of the total FDI capital flows to Dubai.
Dubai Crown Prince and Chairman of The Executive Council of Dubai, Sheikh Hamdan bin Mohammad bin Rashid Al Maktoum, commented: “The sustained FDI flows in H1 2020 reflect the continued attractiveness of Dubai’s investment environment and its success in combating the COVID-19 pandemic and starting the recovery phase in record time.”
