Across 455 projects, it created 18.3,000 new jobs

Dubai attracts 24.7 billion dirhams of foreign direct investment in 2020

• Sami Al Qamzi: "Dubai's economy has shown a great ability to quickly adapt to changes."

• A record share of Dubai in the global market for new foreign direct investment projects, attracting 2.1% of it.

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Dubai recorded an exceptional influx of foreign direct investment during the past year, as it received 455 projects with a total value of 24.7 billion dirhams, according to the data of the Dubai Foreign Direct Investment Observatory, and published by the Dubai Investment Development Corporation, one of the Dubai economic institutions, while the observatory data showed that It adopts the methodology of the Organization for Economic Cooperation and Development in tracking the data, that the number of jobs created by these incoming investments is estimated at 18,325 jobs.

Hamdan bin Mohammed: - "Mohammed bin Rashid set a clear path to transform Dubai into the smart and sustainable city of the future and a major center for the global economy." - “The sustainability of foreign investment flows into Dubai reflects the attractiveness of its investment environment and the confidence of investors in its promising potential and future.”

Outstanding performance

With this distinguished performance, Dubai continues to be a global leader in the ranks of the most prominent destinations for foreign direct investment, as in 2020 it ranked first in the Middle East and North Africa region, and fourth in the world in attracting foreign direct investment capital, according to the Financial Times data on investment markets. Foreign Direct Exchange, which is the most prominent global source of data in this field.

Prominent position

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said, “The prominent position that Dubai has reached regionally and globally in attracting foreign direct investment and providing future economic opportunities for global emerging companies and projects;

It is the fruit of the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, thanks to which strong foundations have been laid and a clear path has been laid to transform Dubai into a smart and sustainable future city, and confirm its position as the leading gateway to emerging markets in the region and a major center for the economy. Global".

New opportunities

His Highness added: “The sustainability of foreign direct investment flows to Dubai and its advanced position in the region and the world as a leading destination for foreign direct investment during 2020 reflects the continued attractiveness of the investment environment in Dubai, and the confidence of the investor community in its promising economic potential and promising future, as Dubai’s success in containing the (Covid-19) pandemic. The start of the recovery phase in record time is a sure testament to our commitment to provide the best investment environment in the world, and to transform global challenges into new opportunities for growth supported by innovation and technology, and with the participation of Emirati and global talents to make Dubai the best place to work, live and invest. ”

Exceptional performance

The total number of foreign direct investment projects implemented in Dubai in 2020, which amounted to 455, exceeds the annual average of 441 projects over the past five years, thus confirming the strength of the foundations of foreign direct investment in Dubai, as well as its economic resilience, diversification of sectors, and future readiness to attract investments.

The exceptional performance of foreign direct investment in Dubai in 2020 came despite extremely difficult investment conditions around the world resulting from the spread of the Corona virus and the economic repercussions it caused.

Progress

Dubai also continued its progress in the ranks of the most prominent foreign direct investment destinations in the world, as it came first in the Middle East and North Africa region, and third in the world in attracting new foreign direct investment projects in the year 2020, according to the data of «fDi Markets», while the emirate achieved Record share in the global market for new foreign direct investment projects, as it attracted 2.1% of the total of these projects during the same year, thus exceeding the 2% barrier for the first time.

Large capacity

For his part, Director General of Dubai Economy, Sami Al Qamzi, said: “Thanks to the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the wise guidance of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, President The Executive Council, the Dubai economy has shown great resilience, diversity, and speed of adaptation to the surrounding changes and developments, supported by advanced infrastructure, favorable legislation, and guarantees that ensure ease of doing business. ”

Axial center

Regarding the most prominent achievements of Dubai in achieving advanced regional and global centers as a leading destination and a global city for the future during the years 2021 and 2022, Al Qamzi added that “Dubai has become an important pivot center in the global economy, providing opportunities for growth and expansion for investors in strategic and future sectors such as financial services, logistics, hospitality and trade. In addition to the technologies of the Fourth Industrial Revolution and accelerating digital transformation in all sectors, industries, and smart city services.

Achieve success

In turn, Fahad Al Gergawi, Executive Director of the Dubai Investment Development Corporation, said: “While we are proud of Dubai’s achievements and its presence in the ranks of the most prominent global cities for foreign direct investment in the future for the year 2021-2022, we are also drawing ideas from hundreds of investors who choose to invest in Dubai to grow their future business. In a sustainable way despite the unprecedented global conditions witnessed in the year 2020. ”

He added, "Thanks to the vision of the wise leadership and Dubai's readiness for the future, global investors and entrepreneurs have been able to achieve success and growth in it over the years."

The most prominent source countries

In addition, the United States topped the countries from which foreign direct investment flows, as it was the source of 21% of capital and 22% of foreign direct investment projects, followed in order by France (16%), Japan (11%) and the United Kingdom (7%). And Germany (6%), which was the most important other country from which foreign direct investment capital flowed into Dubai in 2020.

The most important sectors

The five most prominent sectors in terms of receiving foreign direct investment, which together accounted for 69% of total foreign direct capital inflows to Dubai in 2020, are as follows: accommodation and food services (40%), electric power generation (13%), services Other information (8%), health care and social assistance (4%), in addition to wholesale and retail trade (4%).

The most prominent features of the performance of foreign direct investment in Dubai during 2020

Reinvestment projects: The value of foreign direct investment capital from reinvestment projects reached 1.6 billion dirhams in 2020, surpassing the one billion dirhams barrier for the first time since 2016, according to data from the Dubai FDI Monitor.

Dubai also ranked first in the Middle East and North Africa region in foreign direct investment and capital reinvestment projects, and fourth and eleventh globally in these two categories according to data from "fDi Markets".

Venture capital: Dubai's dynamic ecosystem of innovation, entrepreneurship and venture capital has enabled startups in the city to attract capital estimated at 2.36 billion dirhams through 31 investment deals in 2020.

Dubai ranked first in the Middle East and North Africa region and 11th globally in the "Global Foreign Direct Investment in Venture Capital 2020" report issued by fDi Intelligence.

- Strategic sectors: The share of foreign direct investment projects in strategic sectors reached 57% of the total foreign direct investment projects announced in Dubai in 2020, which establishes the foundations for sustainable economic development in the city.

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