Dubai grabs first position in attracting foreign investment projects in 2021

Dubai bagged the first position in the world in attracting foreign investment projects last year and grabbed the second position in attracting corporate headquarters as the economy of the emirate continues to recover from the Covid-19 pandemic.

Dubai bagged the first position in the world in attracting foreign investment projects last year and grabbed the second position in attracting corporate headquarters as the economy of the emirate continues to recover from the Covid-19 pandemic.

The emirate, which is the commercial and tourism hub of the Middle East, attracted over 418 greenfield FDI projects in 2021, said Crown Prince of Dubai and Chairman of the emirate’s Executive Council, Sheikh Hamdan bin Mohammed on Sunday, 8 May, as he revealed the yearly ‘Dubai FDI Results & Rankings Highlights Report 2021’, issued by Dubai Investment Development Agency (Dubai FDI), which is an agency of the Department of Economy and Tourism (DET).

Advertisement

Altogether, Dubai lured over 618 FDI projects last year, including the greenfield as well as projects of reinvestment and other forms of investment, with the total amount of FDI capital flows in the emirate estimated at around Dh26 billion ($7bn), which is 5% more than the last year, as per a statement issued on Sunday.

The total number of jobs that were created via FDI projects also increased by 36% to 24,868 in 2021.

Sheikh Hamdan, in a statement, stated, “Dubai has made a stable, sustainable economic environment and a dynamic business ecosystem for businesses and entrepreneurs to establish new ventures, tap new opportunities and grow their business both in the country as well as beyond its borders.”

“Over the years, Dubai has also proved its stability to global economic fluctuations, gaining the confidence of global investors, and improving its reputation as one of the world’s top lifestyle and business destinations.”

The United Arab Emirates, which is the second-largest economy in the world, has rebounded from the losses that occurred due to the pandemic on the back of increasing oil prices and a bounce back in its travel and tourism sectors as the COVID-19 pandemic’s restrictions ease all over the world.

Tariq Saeed

Read More

Medical tests in Salania Medical Complex’s laboratory likely to increase by 75% of last year, says Bahrain government

The CEO of Government Hospitals of Bahrain recently shared a statement stating that more than 21 million tests were done in the Salania Medical Complex's laboratory which is said to be an increase of 75% compared to last year.

Dubai’s Rental Market Under Scrutiny: Tenants Navigate Eviction Loopholes and Rental Hikes

Jan Alabastro, a Dubai resident in Jumeirah Village Circle (JVC), was served an eviction notice under the pretext of property sale, only to discover his one-bedroom apartment being re-rented at significantly higher rates than he previously paid

St Kitts and Nevis government allows Carnival 2021

Basseterre, St Kitts and Nevis: The government of St Kitts and Nevis decided to allow the celebrations of Carnival 2020. As per National Carnival...

Recent

Dubai registers more than 25000 property deals in the first three months of 2022

Mo’asher, the UAE's authorized sales price index issued by the Dubai Land Department in partnership with Property Finder, said Dubai recorded more than 25000 property transactions in the first three months of 2022. This is the highest number of property deals registered in a quarter since 2010. The total number of property transactions registered was 25,972.

Hobo Cyclist ‘Hels on Wheels’ explores 272nd day of cycling in Abu Dhabi

Hels on Wheels, the famous local traveller, vlogger and hobo cyclist, shares another experience of travelling to Abu Dhabi on her 272nd day of cycling.

Sony Adds $200 Million Strategic Investment Into Epic Games!!

Sony Group Corporation, a parent of Sony Music Group, has spent another $200 million on Epic Games, the United States company behind Fortnite. Tokyo-based Sony’s...
admin