Dubai leads in attracting FDI projects in 2021
Sheikh Hamdan bin Mohammed bin Rashid al-Maktoum announced that Dubai has achieved first place in attracting foreign investment over the past year. During the announcement, he congratulated his father, Vice President, Prime Minister and ruler of Dubai, Mohammed bin Rashid al-Maktoum, for his leadership and attributed Dubai's strong international performance to his vision.
"Dubai's rise as the world's top-ranked destination for foreign direct investment has been driven by the visionary leadership of His Highness Sheikh Mohammed bin Rashid al-Maktoum, Vice President, Prime Minister and Ruler of Dubai. Under the directives of His Highness, Dubai has created a stable and sustainable economic environment and a vibrant ecosystem for companies and entrepreneurs to launch new ventures, seize new opportunities and expand their businesses both within the country and beyond its borders. Over the years, Dubai has also demonstrated its resilience to global economic fluctuations, earned the trust of global investors and enhanced its reputation as one of the world's leading business and lifestyle destinations," said Hamdan bin Mohammed bin Rashid al-Maktoum at the launch of the DUBAI FDI Results and Rankings Highlights Report 2021 prepared by the Dubai Investment Development Agency (Dubai FDI).
The annual FDI report has placed the emirate at the top of the list in terms of attracting foreign investment, with 418 new projects. With these figures, Dubai overtakes the third place achieved the previous year. The country maintains its strong global position, ranking as the best performer in the Middle East and North Africa and third in the world in terms of FDI inflows.
Speaking at the launch of the report, the Director General of Dubai's Department of Economy and Tourism, Helal al-Marri, noted that the country's strong showing in Dubai's top global ranking on the vital economic indicator of FDI attraction has been achieved thanks to the efforts of Dubai's leaders to encourage public-private partnerships, which should become a key driver of the emirate's sustainable development, and said: "Dubai's remarkable performance in attracting FDI in 2021 reflects the confidence of investors, multinational companies, start-ups and global talent in Dubai's business and investment environment, in particular the emirate's success in overcoming the impact of the recent global health crisis and economic challenges, while promoting economic growth and creating new opportunities in the future economy. The remarkable success of Expo 2020 Dubai, which saw the participation of 192 countries and more than 24 million visitors, and its lasting impact in facilitating diverse business and trade partnerships, which are key drivers of global economic recovery and growth, is a testament to our leadership's commitment to making Dubai the preferred global destination to work, live, visit and invest in".
He added: "His Highness' vision fostered strong public-private partnerships that created a unique collaborative model for rapid sustainable development and led to the establishment of growth-friendly regulations and business enabling services. Under his leadership, the partners combined their strengths to create a fertile ground for talent, enterprise and investment in the emirate. As the winds of change sweep the world, foreign investors continue to gravitate to Dubai because of the supportive platform it has created for companies of all sizes to innovate, develop future-oriented technologies and add value to the economy".
Reaching the top spot for foreign investment is a remarkable achievement for Dubai as its capital city ranks ahead of other major cities such as London and Singapore in terms of foreign investment.
