Is Dubai on the verge of a new economic boom? Yes, according to industry and financial analysts.
They base their conclusions on the most recent statistics from the Dubai FDI Monitor.
Which places Dubai top in the Arab world and third internationally in terms of FDI attraction.
“Dubai is becoming one of the most attractive FDI destinations in the world.”
“Global investors have placed their trust in our business ecosystem,”
said H.H.Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
He is also, the Crown Prince of the nation and Chairman of the Executive Committee
Experts agree with Dubai’s political leadership.
Which has overseen a series of measures aimed at boosting the economy.
In the first nine months of 2021, Dubai attracted $ 4.3 billion in FDI capital inflow from 371 projects, a significant rise from the previous year.
“Attracting $ 4.3 billion in FDI at a time.
While the world is still recovering from the pandemic-induced slowdown is heartening,” says Rakesh Menon.
He is the former global secretary of state.
Menon spent a significant amount of time in Dubai as a top banking executive with Standard Chartered Bank and Citi Bank before relocating to London.
The country, he claims, is transforming itself into a prosperous European country.
“This isn’t the same Dubai as before. AI, Blockchain, Crypto, Startups, Fintech, and other emerging technologies are all part of the new Dubai.
“I see a tendency of the US and Europe relocating their blockchain platforms to Dubai,” Menon observes, using the Dubai FDI Monitor’s list of FDI source countries.
In terms of FDI projects, the UK came in front with 20%.
According to Menon, these data demonstrate Dubai's ability to maintain the interest of the West.
This holds the key to future events.
“You must also consider Dubai’s strategic location, which allows it to control 70 to 75 percent of world GDP.”
As a result, I am confident in saying that this nation is now riding the next wave of economic growth, which has just begun,” Menon adds.
H.E. Helal Saeed Al Marri, Director-General, Department of Economy and Tourism, owes the recent FDI trends to the emirate’s forward-thinking policies.
The introduction of new investment channels, and continual improvement in the field.