Team Blitz India
DUBAI has reinforced its position as the world’s leading hub for foreign direct investment (FDI). According to the Financial Times’ ‘fDi Markets’ data, Dubai ranked No.1 overall in global greenfield FDI projects attraction in 2023, the third successive year it has achieved this ranking.
Dubai was also No.1 globally within key clusters including consumer goods, energy, e-commerce, and tourism for greenfield FDI projects attraction, greenfield FDI capital attraction, and jobs created through FDI attraction.
More than triple
Aligned with the ambitious goals of the Dubai Economic Agenda D33, launched in early 2023 by Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President, Prime Minister and Ruler of Dubai, to double the size of Dubai’s economy by 2033, the global FDI performance underscores the city’s robust economic growth and attractiveness to international investors.
In 2023, Dubai welcomed 1,070 global Greenfield FDI projects — 142 per cent more than second-placed Singapore (442) and 148 per cent more than third-placed London (431).
In the past five years, Dubai’s global share in attracting such projects has more than tripled, increasing from 1.7 per cent in 2019 to 6 per cent in 2023. Highlighting its appeal as a headquarters destination, Dubai ranked No.1 globally for HQ FDI projects for the second year in a row, after attracting an impressive 60 projects in 2023. Singapore and London were second and third globally, with 40 and 31 HQ FDI projects respectively.
Overall, Dubai was also ranked fourth globally in the number of jobs created through Inward FDI, up from fifth in 2022, and for Greenfield FDI capital attraction it ranked fifth globally, up two spots from seventh position. On his part, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, said, “Dubai’s ability to secure the No.
1 ranking in global greenfield FDI projects in 2023 for the third consecutive year demonstrates the city’s ability to continually generate new opportunities for global businesses.” The Crown Prince added: “The growing FDI inflows support the objective of the Dubai Economic Agenda D33, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, VicePresident and Prime Minister of the UAE and Ruler of Dubai, to double the size of the emirate’s economy by 2033.”
