Dubai tops global rankings for attracting foreign direct investment

Dubai topped the global rankings for FDI projects in the financial services sector in 2021 for the fifth consecutive year.

This is stated in a report published by the Dubai Investment Development Corporation of the Department of Economics and Tourism of Dubai based on the Financial Times Corporation’s Foreign Direct Investment Markets (fDi Markets) database, which is the most comprehensive database of new international investments, according to the Al Bayan newspaper. Emirates.

Dubai attracted 58 FDI projects in the financial services sector for a total of AED 926.2 million ($251.44 million), and these projects created 1,432 new jobs in 2021, surpassing major cities such as London, Singapore , New York and Paris.

And between 2017 and 2021, Dubai attracted 184 foreign direct investment projects totaling AED5.2 billion ($1.41 billion), and these projects created 5,727 new jobs.

By the end of 2021, Dubai ranked first in the world in attracting foreign direct investment projects in the financial services sector, third in job creation and fifth in attracting capital through foreign direct investment.

According to the report, new investment projects (wholly owned investments) accounted for 84% of total foreign direct investment projects in the financial services sector in Dubai in 2021, compared to 81% between 2017 and 2021.

Reinvestment projects accounted for 9% compared to 8%; At the same time, new investment projects (joint ventures) accounted for 2% compared to 1% over the same period.

Source: Vedomosti