Thursday, May 07, 2009

Dubai, leading FDI destination in the region

According to a special report by the Financial Times, Dubai has been ranked as the topmost destination for Foreign Direct Investment (FDI), even surpassing London and Shanghai.

The UAE continues to be on the forefront in the MENA (Middle East and North Africa) region, accounting for 50 percent of the total projects happening in the region.

Being the top destination for FDI in 2008, Dubai has had a total of 342 projects, with $21billion worth of capital investment, making way for 58,000 new jobs. UAE is the leading destination for FDI in the region, with 480 projects, with a capital expenditure of $35bn, creating about 87,000 new jobs last year.

According to sources, the total number of FDI projects in the Middle East alone, have amounted to 969, creating 237,000 jobs with a capital expenditure of $154bn.

The Governor of Dubai International Financial Center and Vice Chairman of the Central Bank of UAE, Dr. Oman Bin Sulaiman, said that the number of projects initiated, the jobs created and the capital investment, are all sufficient proof of the economic strength of the country.

It is a remarkable achievement for Dubai, to be the leading city in the world for FDI, and we are committed towards continuing to demonstrate the benefit of investing in the UAE and Dubai, Dr. Sulaiman said.

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