FDI in Dubai expected to rise by USD1b in 2012 

(MENAFN) Dubai Economic Development Department's investment office's executive director, Fahd Gargawi, said that foreign direct investment in the emirate would be expected to increase by USD1 billion in 2012, reported Emirates 24/7.

Gargawi added that the number of investment applications received by the department surged 50 percent in the last three months, and many were from European countries, including Germany, Switzerland, the UK and Austria.

Moreover, the applications cover major sectors, including hydrocarbons, petrochemicals, metals, light commodities and precious stones.

It is worth noting that the steep increase in investment applications and other enquiries about the business climate in Dubai shows that the emirate is still very attractive for investors and a safe haven for foreign firms, according to Gargawi.