Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment projects

According to Financial Times 'fDi Markets' statistics, Dubai remains the top worldwide location for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate garnering 511 greenfield projects in H1 2023. Over the first half of 2023, Dubai's worldwide share of greenfield FDI project attractiveness was 6.58 percent, up from 3.83 percent over the same six-month period previous year. The findings, which highlight the emirate's prominence as a vital investment hub, are fully aligned with the city's 10-year Dubai Economic Agenda D33, which intends to double the emirate's economy over the next decade.

In parallel, according to fresh statistics issued by Dubai FDI Monitor at Dubai's Department of Economy and Tourism (DET), the city documented a total of 880 announced FDI projects between January and June of this year, representing a 70% year-on-year increase. The Dubai FDI Monitor monitors, verifies, and examines all forms of FDI projects declared in the emirate.

According to Dubai FDI Monitor data, greenfield FDI projects in Dubai account for 65 percent of total announced FDI projects. According to the research, year-on-year reinvestment FDIs grew from 3% to 4.4% in H1 2023 as compared to the same period in 2022. Dubai also experienced an increase in worldwide greenfield FDI capital attractiveness year on year, hitting Dh20.87 billion. According to fDi Markets statistics from the Financial Times, Dubai rose from ninth in H1 2022 to sixth in H1 2023.

Furthermore, according to the statistics, Dubai ranks first internationally in the attractiveness of HQ FDI projects, garnering 33 HQ projects in the first half of this year, ahead of London and Singapore.

According to the statistics, Dubai jumped from ninth rank in H1 2022 to fourth place globally in H1 2023 in terms of job creation from FDI projects. The increase follows a 43.3% increase in job creation in H1 2023 compared to H1 2022, for a total of 24,236 jobs generated by FDI. In keeping with DET's economic diversification plans, Dubai's efforts to retain and recruit highly trained individuals were shown in the top six industries contributing to expected FDI employment creation in H1 2023: Business services at 5,212 jobs (21.5 per cent share), software and IT at 3,525 jobs (14.5 per cent), food and beverages at 3,090 jobs (12.7 per cent), financial services at 1,813 jobs (7.5 per cent), consumer products at 2,104 jobs (8.3 per cent) and real estate at 921 jobs (3.8 per cent).

According to the Dubai FDI Monitor, the emirate continued to attract medium-to-high-technology and low-technology FDI projects in H1 2023, with rates of 63% and 37%, respectively, remaining constant from the previous year. The data shows the predominance of medium-high technology FDI operations in Dubai, highlighting the city's role as a global hub for cutting-edge FDI projects and a hub for specialist personnel in the digital economy.

Financial services (52%), business services (12.8%), software and IT services (7.5%), real estate (6.9%), and food and beverage (3%) are the top industries attracting FDI money to Dubai. According to the Dubai FDI Monitor, the top five industries accounted for 82% of all FDI capital inflows and 70% of total FDI projects. Business services (22.4%), software and IT (17.8%), food and beverage (12.2%), financial services (9%), and consumer products (8.3%) are the leading industries in terms of FDI projects.