Explore factors behind Dubai’s sustained leadership in Greenfield FDI for third consecutive year

Further reinforcing its position as a leading economic hub, Dubai in the UAE ranked Number 1 overall in global Greenfield FDI projects attraction in 2023, the third successive year it has achieved this ranking, according to the Financial Times Ltd’s “fDi Markets” data.

The numbers support the ambitious goals of the Dubai Economic Agenda D33, launched in early 2023 by HH Sheikh Mohammed bin Rashid, Prime Minister of the UAE and Ruler of Dubai, to double the size of the megacity’s economy by 2033.

The global FDI performance highlights Dubai’s attractiveness to international investors. Last year, the city lured 1,070 global Greenfield FDI projects, 142% more than second-placed Singapore (442) and 148% more than London in the third place (431).

Dubai has been ranked the world’s top hub for greenfield FDI for the third consecutive year, accounting for 6% of the global total in 2023, according to the Financial Times Ltd’s ‘fDi Markets’ data. Dubai attracted 1,650 FDI projects worth more than AED39.2 billion in the past… pic.twitter.com/g93n2XJqwf

— Hamdan bin Mohammed (@HamdanMohammed) May 14, 2024

Dubai securing top ranking in global Greenfield FDI

Underscoring its appeal as a headquarters destination, the burgeoning emirate ranked Number 1 across the globe for HQ FDI projects for the second successive year, after attracting a substantial 60 projects. Singapore and London came in second and third, respectively.

Overall, Dubai also secured the fourth position globally in the number of jobs created through Inward FDI, up from fifth in 2022, and for Greenfield FDI capital attraction it ranked fifth globally, up a couple of spots from seventh position, as per the Emirates News Agency.

“Dubai’s stability, cutting-edge infrastructure and dynamic business environment have made it a focal point for investment, enterprise and talent,” said HH Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Executive Council of Dubai.

“Dubai’s ability to secure the Number 1 ranking in global Greenfield FDI projects in 2023 for the third consecutive year demonstrates the city’s ability to continually generate new opportunities for global businesses,” he further mentioned.

Dubai’s robust investment and business climate

Highlighting Dubai’s sustained leadership in global FDI for the third consecutive year, Helal Saeed Almarri, Director General of Dubai Department of Economy and Tourism (DET), said this achievement affirms the city’s status as a premier global hub for high-quality FDI.

“The enduring confidence of investors, multinational corporations, startups and global talent in Dubai’s robust investment and business climate is a testament to our strategic initiatives,” he further mentioned, according to the Emirates News Agency.

Dubai is gradually establishing itself as an essential destination for emerging businesses, investment and talent, and as an important expansion hub for global corporations. Keep an eye out for additional updates.

Read More: UAE attracts $23 billion of FDI last year in 1,277 projects