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Dubai received foreign direct investment (FDI) worth AED 46.6 billion in the first half of 2019, representing growth of 135% compared to the same period last year, according to Dubai Investment Development Agency (Dubai FDI), part of Dubai Economy, the emirate’s economic development arm.
Sheikh Hamdan bin Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, said that the significant growth in FDI into Dubai is a testament to global confidence in Dubai’s economy.
In a statement published at the start of Dubai Investment Week (DIW), the Dubai government said it ranked third in the world for attracting FDI, both in terms of the capital value flows and number of greenfield projects. DIW is currently underway and will end on 3 October.
The FDI flows and rankings results were revealed by Dubai FDI, an agency of Dubai Economy. Data from Dubai FDI Monitor showed Dubai has attracted 257 FDI projects in the first half of 2019 where 61% of total projects were greenfield, followed by 27% new forms of investments (NFIs), 6% reinvestment, 5% mergers and acquisitions (M&As), and 1% new joint ventures.
According to the data, FDI projects with High and Medium Technology component reached 47% of total FDI projects in the first half of 2019, based on the Organisation for Economic Co-operation and Development (OECD) classification criteria.
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