Dubai Ranks First in the World For Attracting FDI Projects in 2021
Dubai has achieved the top ranking in the world in attracting foreign direct investment (FDI) in 2021, with a record number of 418 greenfield FDI projects, revealed His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.
HH Sheikh Hamdan expressed his gratitude to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his exceptional leadership and attributed Dubai’s remarkable achievements and global rankings to His Highness’s farsighted vision.
Sheikh Hamdan unveiled the annual ‘DUBAI FDI Results & Rankings Highlights Report 2021,’ published by Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET).
Sheikh Hamdan stated: “Dubai’s rise as the world’s top ranked destination for foreign direct investment has been driven by the visionary leadership of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum.
"Under His Highness’s directives, Dubai has created a stable, sustainable economic environment and a vibrant business ecosystem for companies and entrepreneurs to launch new ventures, tap new opportunities and expand their business both in the country and beyond its borders.
"Over the years, Dubai has also demonstrated its resilience to global economic fluctuations, earning the confidence of global investors, and enhancing its reputation as one of the world’s leading lifestyle and business destinations.
The annual ‘DUBAI FDI Results & Rankings Highlights Report 2021’ ranked Dubai first globally in attracting greenfield FDI projects in 2021, up from the third position last year, with a staggering 418 greenfield FDI projects.
The report was based on data from the Financial Times Ltd. ‘fDi Markets,’ the world’s leading source of data on greenfield FDI projects.
Moreover, ‘fDi Markets’ data for the year 2021 showed that Dubai continued to maintain and improve on its lead position across key FDI attraction metrics, ranking first in the Middle East and North Africa region (MENA), and third globally, up from fourth place last year, in FDI capital inflows.
In Reinvestment FDI projects, Dubai ranked first in the MENA region and third globally (up from fourth place last year), and seventh globally, (up from eleventh-place last year), in FDI capital inflows. As for FDI job creation, Dubai ranked first in the MENA region and fifth globally, up from the sixth-place last year.
The ‘DUBAI FDI Results & Rankings Highlights Report 2021’ is based on ‘Dubai FDI Monitor,’ which tracks, validates, and provides analysis on all types of FDI projects into Dubai, including greenfield FDI projects.
The report revealed significant growth in all key FDI indicators compared to the previous year, where the estimated value of FDI capital flows into Dubai exceeded AED26 billion from a total of 618 announced FDI projects in 2021, with a growth rate of 5.5% compared to 2020.
Both FDI projects and FDI job creation witnessed a significant increase of 36 per cent in 2021 compared to 2020, with an estimated 24,868 jobs in 2021, compared to 18,325 jobs in the previous year.
His Excellency Helal Al Marri, Director General of the Department of Economy and Tourism in Dubai, stressed that Dubai’s top global ranking in the vital economic indicator of FDI attraction has been made possible by the Dubai leadership’s efforts.
Fahad Al Gergawi, Chief Executive Officer, Dubai Investment Development Agency, (Dubai FDI) said: “Dubai’s regional and global pre-eminence in FDI attraction indicators is the fruit of the vision and guidance of the leadership, which manifested in setting a clear goal in the Dubai Plan 2021."
Al Gergawi pointed out that Dubai's rise to the top position globally in attracting greenfield FDI projects in 2021 is an unprecedented achievement as the city surpassed London and Singapore for the first time with a remarkable lead of over 50 FDI projects.