Economy

Dubai Expected to Have Higher FDI in 2019 than 2018: Fahad Al Gergawi

Fahad Al Gergawi, chief executive officer at Dubai FDI

In 2018, Dubai’s foreign direct investment (FDI) reached 38.5 billion Dhirams – a 41% year-on-year growth – and climbed to 6th place in global FDI capital flows ranking.

This year, this number is expected to go even higher.

In an interview with Bloomberg, Fahad Al Gergawi, CEO, Dubai FDI affirmed that they were at 54% year-on-year growth (excluding mergers and acquisitions) and that he expected a higher performance than what they had in 2018.

Read: ‘The Report: Oman 2020’ to analyse country’s foreign investment drive

Top 5 Source Countries

Currently, according to Dubai FDI monitor, the top five sources countries are United States (23%), United Kingdom (13%), France (9%), India (7%), and China (5%).

Top 5 Sectors

The top five sectors for foreign direct investments are: Retail & Wholesale trade (25%), Accommodation & Food Services (17%), Administration & Support Services (8%), Software publishers (6%), and Finance & Insurance (6%).

Read: Oman Ports – A New Hub for Foreign Investment

Focus on Ranking

In 2018, according to the Dubai FDI Annual Resorts and Ranking 2018 released by the Dubai Investment Development Agency, the emirate attracted 523 FDI projects in 2018, an increase of 43 per cent over 2017, elevating the emirate’s global ranking in the number of new investment projects to third from fourth.

Al Gergawi wants to ‘continue performing within this league’, and maintain Dubai’s ranking consistently among the top five.