Dubai third globally in attracting greenfield foreign direct investments

Dubai third globally in attracting greenfield foreign direct investments

DUBAI: Dubai continued to maintain its leadership position among the world's preferred destinations for foreign direct investment (FDI), attracting AED15.9 billion (US$4.3 billion) of FDI capital inflow from 378 projects in the first nine months of 2021, a significant increase from the same period of 2020, according to data from the ‘Dubai FDI Monitor’ released by Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET) in Dubai.

The positive growth places Dubai third globally in key metrics including attracting greenfield foreign direct investment capital and projects, for FDI into reinvestment projects and for being among the top global FDI locations of the future, according to the ranking by Financial Times’ fDi Markets, which captures and compares FDI data across the world.

FDI reinvestment projects accounted for 11% of the total FDI projects in the emirate. FDI job creation witnessed a huge growth of 36% during the first nine months of 2021 compared to the same period last year, as 16,430 new jobs were created compared to 12,090 jobs in the same period prior to last year.

The total number of FDI projects increased by 16%, from 326 in the first nine months of 2020 to 378