His Majesty Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, said that Dubai would be the leading destination for foreign direct investment (FDI) in 2021, with a record number of 418 greenfield FDI projects.
HH Sheikh Hamdan thanked His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, for his extraordinary leadership and credited Dubai’s remarkable successes and global rankings to His Highness’ foresight.
HH Sheikh Hamdan stated, “Dubai’s rise as the world’s top ranked destination for foreign direct investment has been driven by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,” while unveiling the annual ‘DUBAI FDI Results and Rankings Highlights Report 2021′, published by Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET Dubai has developed a stable, sustainable economic climate and a thriving business ecosystem for firms and entrepreneurs to launch new initiatives, explore new possibilities, and expand their company both inside the country and beyond its boundaries, according to His Highness’ commands.
“Dubai has also proved its resilience to global economic swings over the years, winning the trust of global investors and boosting its position as one of the world’s premier leisure and business destinations,” HH Sheikh Hamdan stated.
“His Highness’ vision promoted strong public–private collaborations that resulted in the formation of growth-friendly rules and business-enabling services, as well as a unique collaborative model for rapid sustainable development.” Dubai’s government agencies, free zones, and private sector partners used their capabilities under his leadership to create a fertile field for talent, entrepreneurship, and investment in the emirate. As the winds of change blow throughout the world, global investors continue to flock to Dubai because of the welcoming environment it has established for businesses of all kinds to innovate and build future-oriented products.
According to the annual ‘DUBAI FDI Results and Rankings Highlights Report 2021,’ Dubai scored first internationally in luring greenfield FDI projects in 2021, up from third last year, with a remarkable 418 greenfield FDI projects. The analysis relied on data from the Financial Times Ltd.’fDi Markets,’ the world’s premier source of greenfield FDI project data.
Furthermore, statistics from ‘fDi Markets’ for the year 2021 revealed that Dubai maintained and improved its lead position across key FDI attractiveness criteria, ranking first in the Middle East and North Africa region (Mena) and third globally in FDI capital inflows, up from fourth place last year.
Dubai ranks first in the Mena region and third internationally in reinvestment FDI projects (up from fourth position last year), and seventh globally in FDI capital inflows (up from eleventh place last year). In terms of FDI job generation, Dubai now ranks first in the Mena region and fifth internationally, up from sixth last year.
The ‘DUBAI FDI Results and Rankings Highlights Report 2021′ is based on the ‘Dubai FDI Monitor,’ which tracks, validates, and analyzes all types of FDI projects into Dubai, including greenfield FDI projects, data on FDI Reinvestment projects, Mergers and Acquisitions, Joint Ventures, and New Forms of Investment (NFIs), as well as the recently added Venture Capital (VC) Backed FDI. The research demonstrated considerable development in all major FDI metrics compared to the previous year, with the expected amount of FDI capital flows into Dubai exceeding AED26 billion in 2021 from a total of 618 declared FDI projects, representing a 5.5 percent increase over 2020. Both FDI projects and FDI job creation increased by 36 percent in 2021 when compared to 2020.