28 April, 2021
Dubai Acquires $6.7 Billion FDI for 2020
The Dubai FDI Monitor, released by the Dubai Investment Development Agency, revealed that $6.7 Billion of FDI was attracted in 2020.
Global FDI trends were down from $1.3 Trillion in 2019 to $859 Billion in 2020. This translates to a decrease of 42% as per UN Conference on Trade & Development (UNCTAD).
In this background, the attraction of $6.7 Billion by Dubai in 2020 emerged as a positive. Dubai not only led the MENA region in terms of FDI capital, but also achieved its highest global share of 2.1% of all global FDI projects.
Dubai led the region in terms of Greenfield capital influx.
While Dubai ranked 1st in MENA for reinvestment projects and capital, it ranked 4th and 11th respectively on the same metrics in the global level. Reinvestment FDI projects accounted for $1.6 Billion and marked the first time that the number crossed $1 Billion for Dubai.
Of the total FDI inflows, the accommodation and food services sector accounted for the highest share, at 40%. Other sectors that rounded off the Top-5 for Dubai were electrical power generation, information services, healthcare & social assistance and retail & wholesale trade.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum remarked that technology, innovation and global talent led to Dubai being a global destination for working, residence and investment.
The recent regulatory changes to its business and economy have led to a strong positive affiliation for economic investment among global investors.