Dubai Secures Top Global Ranking For Attracting FDI Projects In H1 2023

Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate attracting 511 greenfield projects in H1 2023, as per Financial Times ‘fDi Markets’ data.

During the first half of 2023, Dubai’s global share in the attraction of greenfield FDI projects stood at 6.58 per cent — up from 3.83 per cent over the same six-month period last year. The results, which underscore the emirate’s status as a key investment hub, aligns directly with the city’s 10-year Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, said: “Dubai’s ability to maintain its top ranking in attracting greenfield FDI projects reflects the city’s ability to create unparalleled growth opportunities and value for global investors. Guided by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the emirate has intensified its drive to accelerate economic diversification and innovation. This commitment, coupled with the adoption of advanced technologies, is shaping a future filled with endless opportunities for progress and prosperity. With the clear growth roadmap set out by the Dubai Economic Agenda D33, we continue to work to create an investment environment that not only wins the trust of investors from all over the world but also encourages them to contribute to Dubai’s transformation.”

In parallel, new data released by Dubai FDI Monitor at Dubai’s Department of Economy and Tourism (DET), shows the city logged a total of 880 announced FDI projects between January and June of this year, a year-on-year growth of 70 per cent. The Dubai FDI Monitor tracks, substantiates and analyses all types of FDI projects announced within the emirate.

Dubai FDI Monitor data also indicates that Dubai’s greenfield FDI projects account for 65 per cent of total announced FDI projects. The report also states year-on-year reinvestment FDIs increased from 3 per cent to 4.4 per cent when comparing H1 2023 with the same period in 2022.

Dubai also saw a year-on-year rise in global greenfield FDI capital attraction, reaching Dh20.87 billion. According to Financial Times’ fDi Markets data, Dubai climbed from eighth in H1 2022 to sixth globally in H1 2023.

Additionally, Dubai ranks first globally in the attraction of HQ FDI projects, according to the data, by attracting 33 HQ projects in the first half of this year, ahead of London and Singapore.