The growth rate in FDI capital during the first three months of the year reached 176.6%
FDI into the GCC emirate valued at AED 20.2 billion in the first quarter of 2019, Fahad Al Gergawi added.
Accordingly, the growth rate in FDI capital during the first three months of the year reached 176.6% as compared to Q1-18 in which Dubai recorded investments worth AED 7.3 billion.
FDI capital in the three-month period accounts for approximately 52.4% of 2018’s total FDI, which reflects the strong stature of the emirate in the global business and finance community.
The directions of Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, as well as Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai, in developing the investment environment in the emirate and adding new strategies for investors to reinforce the competitiveness of Dubai has been successful in attracting further FDI, Al Gergawi stressed.
Dubai has seen FDI into 118 investment projects in Q1-19 according to Dubai FDI, he noted, adding that these FDI included new projects, reinvestments, mergers and acquisitions, and joint projects.
This in return boosts the pioneering position of Dubai as a key global attractive city for investors and as an emerging smart futuristic city, as well as a hub for innovation and entrepreneurship.