FDIs in Dubai grow 135% to reach $12.7bn in H1 2019
Dubai ranks third in the world for attracting FDIs, and saw a 135% growth on corresponding figures for H1 2018
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, announced that Dubai had attracted foreign direct investments (FDI) worth $12.7bn (AED46.6bn) in H1 2019, marking a 135% year-on-year growth in the figure, according to Dubai Investment Development Agency (Dubai FDI), a part of Dubai Economy.
Dubai ranks third in the world for attracting FDI in terms of both capital flows and the number of greenfield projects.
FDI projects with high- and medium-technology components made up 47% of total FDI projects in the first half of 2019, according to Organisation for Economic Cooperation and Development's criteria.
These FDI projects also claimed a 48% share of the 24,294 new jobs created in H1 2019, Wam added.