How foreign direct investments are strengthening Dubai’s economy

Half of Gen Zers at risk of vitamin B12 deficiency due…By: Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers

Across the world, Dubai is seen as an ideal location for FDI projects, and these flourishing enterprises are now supporting homegrown talent and attracting new workers into the emirate. At Dubai Chambers, we are building on this success by securing even more FDI projects and catalysing a dynamic investment environment across the emirate. Over the past few years, global FDI has been heavily impacted by uncertainty across markets and fragmented global trade.

We were also proud to see Dubai ranked as the top global destination for attracting greenfield FDI projects in the most recent edition of the Financial Times’ ‘fDi Markets’ data, which indicated that the emirate attracted 511 greenfield projects in H1 2023. The data also highlighted that Dubai’s global share in the attraction of greenfield FDI projects rose to 6.58% during the first half of 2023 – up from 3.83% during the same period in 2022.

By ensuring that Dubai maintains its status as a major hub for FDI, we are supporting the goals of the Dubai Economic Agenda , which aims to double the size of the emirate’s economy over the coming decade. A healthy FDI ecosystem encourages economic diversification and promotes innovation. It also leads to significant job creation – it has been estimated that FDI projects have created 5,212 business services jobs, 3,525 IT and software jobs, and 3,090 food and beverage jobs in H1 2023 alone.

Source: Financial Digest (financialdigest.net)

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