Attracted 58 projects worth 926 million dirhams and created 1,432 new jobs
Dubai tops the world rankings in attracting foreign direct investment projects
The Dubai International Financial Center has a strong reputation as a global financial centre.
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Dubai, and the Dubai International Financial Center, the leading financial center in the Middle East, Africa and South Asia, topped the world rankings in attracting foreign direct investment projects in the financial services sector for the year 2021, according to a report issued by the Dubai Investment Development Corporation, affiliated with the Department of Economy and Tourism in Dubai.
The ranking is based on the Financial Times' fDi Markets database, the most comprehensive database of new international investments, covering all countries and sectors around the world.
The Dubai International Financial Center also ranked first during the five years between (2017-2021), based on its reputation as an international financial center, and its continuous focus on shaping the future of the finance sector by attracting leading companies and innovative start-ups to establish, operate and expand their business in Dubai. .
This classification confirms the objectives of the DIFC 2030 strategy, to support sustainable economic growth and consolidate Dubai's position as a global hub for financial institutions, financial technology companies and innovation companies.
This ambitious strategy aims to double the size of the DIFC and its economic contribution to Dubai's GDP.
direct investment
According to the report of the "Dubai Monitor for Foreign Direct Investment", published by the Dubai Investment Development Corporation, the emirate has attracted 58 foreign direct investment projects in the financial services sector with a total value of 926.2 million dirhams, and these projects created 1,432 new jobs in 2021.
The report also indicated that Dubai has surpassed major financial cities such as London, Singapore, New York and Paris, confirming the status of the Dubai International Financial Center as a global financial center.
Some of the FDI projects include SRI International Group, an international financial and business strategy advisory group, Team Up Ventures, an incubator and accelerator platform for young entrepreneurs and start-ups, and FFA Private Bank It is one of the leading Lebanese investment companies in the fields of capital markets and wealth management, and Britium, a specialized alternative investment company, in addition to Union Capital, a brokerage and investment advisory company, and a member of the US Financial Industry Regulatory Commission.
The merger and acquisition projects included the Swiss private bank "One Swiss" and the private holding company "Bracket Invest".
Dubai has attracted 184 foreign direct investment projects with a total value of 5.2 billion dirhams between (2017-2021), and these projects created 5,727 new jobs.
By the end of 2021, Dubai ranked first globally in attracting foreign direct investment projects in the financial services sector, third in job creation, and fifth in generating capital from foreign direct investment.
Arif Amiri, CEO of the DIFC Authority, said: “The great confidence shown by the global financial services sector and the broader business community in the DIFC allows us to facilitate foreign direct investment in Dubai.
This has naturally led Dubai to top the rankings in attracting foreign direct investment projects in the financial services sector for the year 2021, and the Dubai International Financial Center has also ranked first as the best performing free zone over the past five years.
The Center’s commitment to continue establishing itself as a leading global financial center in the region, along with other global cities such as London, New York, Paris and Singapore, reflects our commitment to continuing to develop our global business-enabled ecosystem, and our constant quest to upgrade our legal and regulatory framework, and support innovation to attract companies from around the world. ».
first place
For his part, Executive Director of the Dubai Investment Development Corporation, Fahad Al Gergawi, said: “We are proud of the Dubai International Financial Center’s ranking as the first globally in attracting foreign direct investment projects in the financial services sector, thus consolidating its position as a leading global financial center in the region.
The center relies on this success on its world-class infrastructure, stable and innovative environment.
Dubai's top spot in the world rankings in the field of foreign direct investment is tangible evidence of its solid foundations and the confidence of investors and multinational companies in this region.
Despite the challenges of the pandemic and the economic changes that the world has witnessed over the past few years, Dubai has provided a strong and sustainable investment environment.
At Dubai Corporation for Investment Development, we will continue to work to enhance Dubai’s attractiveness to foreign direct investment, by providing specialized and reliable services to the investor community.”
United kingdom
The report of the Dubai Monitor for Foreign Direct Investment also revealed that the United Kingdom topped the list of countries from which foreign direct investment projects flowed in the financial services sector during 2021, followed by the United States, Switzerland, India and Cyprus.
The United Kingdom also maintained its lead as a source of foreign direct investment capital, followed by the United States, India, Switzerland and Lebanon in the same year.
Wholly Owned Investments
New investment projects (wholly owned investments) accounted for 84% of the total foreign direct investment projects in the financial services sector in Dubai during 2021, compared to 81% between 2017 and 2021.
Reinvestment projects constituted 9%, compared to 8%, while new investment projects (joint ventures) constituted 2%, compared to 1% during the same period.
Dubai has surpassed major financial cities in the rankings such as London, Singapore, New York and Paris.
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