FDI Inflows To Dubai Rise 16.6% Reach Dh4.2 Billion

25 Mar 2013

Dubai FDI helped 119 companies set up in the emirate last year

Dubai FDI, the foreign investment office in the Department of Economic Development (DED), has reported 16.6 per cent increase in foreign direct investment (FDI) facilitated into Dubai during 2012, as a comprehensive range of programmes and activities to highlight the emirate’s growing prominence as a hub of trade and commerce continue to produce substantial outcomes.

The companies assisted by Dubai FDI and their partnership programmes in 2011 showed a total investment of Dh3.6 billion in Dubai, while the companies assisted in 2012 showed a flow of Dh4.2 billion in investments into the emirate, with a total impact of Dh18.3 billion on the emirate’s economy.  This is a 14.3 per cent growth over last year’s economic impact of Dh16 billion.

With the ease and strategic advantages of doing business in Dubai winning greater acknowledgement internationally, Dubai FDI was busy assisting 119 companies to set up in the emirate in 2012, as well as helping 46 companies grow and develop their existing investment in the emirate. This is a 114% growth on 2011, where the total number of companies assisted was 77 companies.

Fahad Al Gergawi, Chief Executive Officer of Dubai FDI, commented: “Dubai has been able to remain top in terms of investor confidence and it is evident from the steadily rising FDI figures. For the discerning investor, Dubai is the best response to concerns on ease of doing business, operational efficiencies, convenient market access and sustainable growth.”

Al Gergawi added: “Dubai’s well-integrated multimodal logistics platform and quick connections to 2.2 billion consumers across the Middle East, North Africa and South Asia have emerged as significant drivers of global commerce as well as the emirate’s economic development.

The international community is also taking serious note of the leadership’s commitment to push ahead with policy reforms, projects and reaching out to new markets.”

Dubai FDI participated in 56 events in 2012, including 17 internationally, to build awareness among investors, trade bodies and governments on the strategic advantages of being in Dubai. The leading international events included a US roadshow covering five states; Globe 2012 – Vancouver; Gulf Investment Congress – Florence, Italy; World Investment Forum – Qatar, and the ‘Opportunities Dubai’ roadshow hosted ion three UK cities.

Majority of the events in which Dubai FDI attended in 2012 were focused on investment potentials and sectors in which Dubai has outstanding competitiveness. Within the emirate, Dubai FDI also joined as partners in the Dubai Medical Tourism initiative, Green Economy Partnership Initiative, Leading ion Construction event, and the Euro Monitor International Retail Landscape to name a few.

Dubai FDI also hosted 31 business and government delegations in 2012, introducing Dubai and its business environment to investors and decision-makers in a number of regions and countries including Scotland, Ireland, Edinburgh, Kenya, South Korea, CIS, China, Japan, Spain, Romania and Indonesia.

Analytical reports on strategic sectors brought out by Dubai FDI in 2012 helped investors understand new and emerging opportunities in Dubai. A study on the competitive advantages of Dubai, the ‘Why Dubai’ report, is valuable investor guide introducing the city as an investment destination.

The partnership network of Dubai FDI also expanded in 2012 as nine memoranda of understanding were signed with various consultancies, professional and trade associations and overseas marketing agencies.  New partners who came on board in 2012 included The Business Year, Australia Gulf Council, Chartered Institute of Logistics, Brazilian Trade and investment Promotion Agency, and Taylor Wessing.

“Our partner network plays a major role in building investor awareness; attract investors to Dubai and help develop their businesses. Dubai FDI seeks to provide a one-stop solution to investors, wherein we help them by eliminating obstacles, introducing them to new opportunities and try to retain those looking to exit the market.

“Last year we were able to provide business development, growth and retention advisory services to 77 companies,” concluded Al Gergawi.

Source: http://www.emirates247.com/business/economy-finance/fdi-inflows-to-dubai-rise-16-6-reach-dh4-2-billion-2013-03-23-1.499666