Dubai (Union) Emirate Dubai topped the list of cities attracting new foreign direct investment projects for the year 2021, according to the annual report of Dubai Investment Development Corporation, one of the institutions of the Department of Economy and Tourism in Dubai, “Foreign direct investment flows to the Emirate Dubai for the year 2021, “issued by” the Dubai Investment Monitor, which revealed the emirate’s success in attracting 418 new investment projects, placing Dubai in first place in the world in terms of attracting new foreign direct investment projects, up from third place last year.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, expressed his pride in this unprecedented achievement and stressed that it and other achievements that Dubai continues to achieve in various fields, especially in the economic plan, is the fruit of an integrated work system founded by the owner His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and ruler of Dubai, may God protect him, and provided it with the ingredients for success that made it possible for Dubai to enjoy an investment environment that combined all elements of stability and sustainability, increasing its attractiveness as the best destination for global investment looking for opportunities for growth and prosperity.
His Highness said: “The distinction between Dubai’s investment environment stems from a set of main pillars, first and foremost the exemplary partnership with the private sector, flexible regulatory framework, speed in keeping pace with global change and zeal to discover, attract and develop the best talent. and competencies in different areas, as these elements helped to create trust in Dubai. The investor in Dubai, whether it is from within the country or from different parts of the world … We listen to our partners and take their ideas and suggestions consider and provide them with everything that enables them to expand their business locally, regionally and globally to reach out together to achieve our broad common aspirations for the future. “
His Highness the Crown Prince of Dubai praised the role played by government departments, free zones and partners from the private sector in achieving this achievement, which supports the achievement of Dubai’s strategic goals. Big and new alike and from different parts of the world. We follow global changes and keep up with them with fast movements and well-thought-out decisions, to always be the partner who is able to deliver real added value with a tangible positive impact. “
Dubai maintained its regional leadership in first place in the Middle East and North Africa region in terms of capital flows for new foreign direct investment projects globally, and ranked third globally, up from fourth place the previous year. The emirate also maintained its leadership initially regionally, while continuing to rise globally in the classification of reinvestment projects. Dubai took third place globally, up from fourth place in the previous year in terms of number of projects, and seventh globally, up from eleventh place the year before in terms of capital injection.
The Emirate of Dubai also maintained its first place regionally, while continuing to rise globally in the classification of job creation from foreign direct investment, as it became number five in the world, up from sixth place the year before, according to data from the Financial Times “FDI Markets”, as it monitors data on new foreign direct investment projects globally.
Indicators of growth and confidence
The data from the “Dubai Investment Monitor”, which tracks, examines and analyzes the flows of all types of foreign direct investment to the Emirate of Dubai, indicates a remarkable growth in all major indicators compared to the year 2020, when the estimated value of total capital flows of foreign direct investment projects exceeded 26 billion dirhams in 2021., with a growth rate of 5.5 percent compared to 2020, out of a total of 618 projects announced in 2021, according to data from the Dubai Investment Monitor for investment projects that include, in addition to new investment projects, reinvestment projects, mergers and acquisition projects, joint ventures and investment types New foreign direct investments from venture capital.
The growth rate for foreign direct investment projects reached 36 percent in 2021 compared to 2020. The observational data also indicates a remarkable growth estimated at around 36 percent in the creation of new jobs thanks to foreign direct investment, as the number of new jobs created was estimated at 24,868 jobs for the year 2021, compared to 18,325 jobs for the year 2020.
Hilal Al Marri, Director General of the Department of Economics and Tourism in Dubai, stressed that Dubai’s achievement of the world rankings in the key indicators of attracting foreign direct investment came thanks to the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and ruler of Dubai, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, may God protect him His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and the continued support of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, who has promoted partnership with the private sector as one of the pillars of sustainable economic development in the emirate.
Al Marri pointed to the positive growth of all indicators of foreign direct investment in 2021, reflecting the confidence of investors, international companies, start-ups and global talent in the investment and business environment of the Emirate of Dubai, and the success of the emirate not only in facing pressure from global health and economic challenges, but also in promoting economic growth and creating new opportunities in the sectors of the future economy.
The development of the investment environment
Sustainability of the investment environment
For his part, Fahad Al Gergawi, CEO of Dubai Investment Development Corporation, one of the institutions of the Department of Economy and Tourism in Dubai, stressed that the prominent position that Dubai has reached regionally and globally in all indicators to attract foreign direct investment is the result of the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. , Vice President and Prime Minister of the United Arab Emirates and ruler of Dubai, may God protect him, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, who set a clear goal in the 2021 Dubai Plan that the emirate was to be “the world’s preferred destination for foreign direct investment”, and laid the foundation The strong company that has proven the efficiency, flexibility, stability and sustainability of Dubai’s economy in the face of global challenges.
Al Gergawi explained that Dubai’s rise to first place in the world in attracting new foreign direct investment projects for the year 2021 is an unprecedented achievement as Dubai for the first time surpassed London and Singapore in the world rankings as the best ranking for new foreign direct investment projects in the world, and Dubai is unique at the top with a difference More than 50 new investment projects.
He pointed out that the Emirate of Dubai achieved a record share of total investment projects globally for the second year in a row, as it attracted 2.1 per cent of these projects last year, exceeding the 2 per cent barrier for the first time and continuing its progress. reaching a new record high of 2.8 percent in 2021, pointing out that the results of positive foreign direct investment flows to Dubai in recent years, despite the economic transformations and challenges the world is witnessing, confirmed the strength of the foundation for the investment environment in the emirate and strengthened the transformation from the stage of bridging the gaps and reviewing the best global practices to a new phase of cooperation. The close relationship with global investors and the strengthening of the partnership with the source countries have positioned Dubai as a model for best practice. in attracting and facilitating investment and providing aftercare to investors.
84 startups attract 2.34 billion dirhams
The analytical data from Dubai Investment Monitor, which relies on Magnet as a data provider for startups, reveals the success of 84 Dubai-based startups in attracting foreign direct investment backed by venture capital, estimated at around 2.34 billion dirhams, confirming the attractiveness of Dubai’s innovation market and the development of its supportive environment for local and international startups.