Dubai maintains top ranking for attracting Greenfield FDI projects

Dubai has further reinforced its position as the world’s leading hub for foreign direct investment (FDI).

According to the Financial Times Ltd’s ‘fDi Markets’ data, Dubai ranked No.1 overall in global Greenfield FDI projects attraction in 2023, the third successive year it has achieved this ranking.

The city was also No.1 globally within key clusters including consumer goods, energy, e-commerce, and tourism for Greenfield FDI projects attraction, Greenfield FDI capital attraction, and jobs created through FDI attraction.

Aligned with the ambitious goals of the Dubai Economic Agenda D33 aimed at doubling the size of Dubai’s economy by 2033, the global FDI performance underscores the city’s robust economic growth and attractiveness to international investors.

In 2023, Dubai welcomed 1,070 global Greenfield FDI projects – 142 per cent more than second-placed Singapore (442) and 148 per cent more than third-placed London (431).

In the past five years, Dubai’s global share in attracting such projects has more than tripled, increasing from 1.7 per cent in 2019 to 6 per cent in 2023.

Highlighting its appeal as a headquarters destination, Dubai ranked No.1 globally for HQ FDI projects for the second year in a row, after attracting an impressive 60 projects in 2023. Singapore (40) and London (31) were second and third globally.

Overall, Dubai also ranked fourth 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 two spots from seventh position.

"Dubai’s stability, cutting-edge infrastructure, and dynamic business environment have made it a focal point for investment, enterprise and talent. The city’s stature as a leading global investment destination also reflects its robust economic fundamentals, strong ethos of partnerships and innovative initiatives to sustain growth and innovation across various sectors," said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

"In 2024, as we work to accelerate the D33 Agenda, we will continue to intensify our initiatives to nurture a competitive economic ecosystem that fosters value creation. We are committed to making Dubai a place where the world’s leading companies, entrepreneurs and innovators come to build the future," he added.

. @HamdanMohammed : #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… pic.twitter.com/IyQggddfeE

— Dubai Media Office (@DXBMediaOffice) May 14, 2024