India

India Emerges As Key Source Country For FDI Into Dubai: Report

India has emerged as a key source country for Foreign Direct Investment (FDI) in Dubai, one of the wealthiest of the seven emirates in the United Arab Emirates, according to a report released on Monday. It ranked among the top five source countries for announced FDI projects and estimated FDI capital, according to a report released by “fDi Markets”, a service from UK’s Financial Times Ltd.

With 77.5 per cent of greenfield projects, the top sectors by FDI projects from India into Dubai in 2022 were software & IT services (32 per cent), business services (19 per cent), consumer products (9 per cent), real estate (6 per cent), and financial services (5 per cent).

Meanwhile, the top sectors by FDI capital from India into Dubai in 2022 were consumer products (28 per cent), software & IT services (20 per cent), communications (19 per cent), pharmaceuticals (8 per cent), and business services (8 per cent).

Apart from maintaining its first rank as a destination city for FDI from India, Dubai retained its number 1 spot globally for attracting greenfield FDI projects in 2022, further reinforcing itposition as the world’s top foreign direct investment hub, the report said.

Retaining its top spot for a second successive year, Dubai achieved 89.5 per cent YoY (year-over-year) growth in total announced FDI projects in 2022, while total FDI capital surged 80.3 per cent over the same period, further consolidating the emirate’s status as one of the top three global cities.

The data for 2022 showed that Dubai continued to maintain and improve its leadership position across key FDI attraction metrics. The emirate ranked first in attracting FDI projects into tourism, business services, financial services, transport and warehousing, consumer products, and software & IT services sectors.

Helal Saeed Almarri, Director General of Dubai’s Department of Economy and Tourism, said, “Dubai’s leading global FDI ranking underpins a comprehensive framework of initiatives that were launched to further strengthen the city’s business and investment environment.

“Our strategy to further consolidate the city’s position as one of the top three global cities, in line with the Dubai Economic Agenda, D33, is again strengthened by the achievement of attracting and stimulating FDI and reflects the confidence investors, multinational companies, start-ups, and global talent have in Dubai,” he added.

Dubai emerged as the 2022 world leader in attracting FDI projects in the creative industries cluster, in research and development projects, and in attracting FDI project headquarters by hosting international companies’ global and regional headquarters.

(This story has not been edited by Bharat Express staff and is published from a syndicated feed.)

Bharat Express English

Recent Posts

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

3 hours ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

4 hours ago

Gautam Adani, Family Participate In Puri Rath Yatra; Launch Massive ‘Prasad Seva’ Initiative

Gautam Adani, along with his wife Priti Adani and son Karan Adani, joined thousands of…

4 hours ago

PM Modi, Leaders Pay Tribute To Former PM PV Narasimha Rao On Birth Anniversary

PM Narendra Modi on Saturday paid tribute to former Prime Minister PV Narasimha Rao on…

5 hours ago

Gautam Adani Hails Divine Experience At Rath Yatra; Praises Odisha’s Graceful Management

Gautam Adani conveyed profound spiritual emotions after witnessing the revered Rath Yatra of Lord Jagannath…

5 hours ago

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

5 hours ago