Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

FDI to Dubai jumps 7% in H1  Join our daily free Newsletter

MENAFN - Khaleej Times - 01/10/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) Signalling the strong resurgence of investor confidence in Dubai's economic growth, foreign direct investment, or FDI, to the emirate recorded a seven per cent jump in the first half of this year.

Dubai FDI, the foreign investment office at the Department of Economic Development, said on Sunday the emirate drew Dh16.5 billion in FDI during the first six months of 2012.

Statistics compiled by Dubai FDI showed that during the first half, 113 companies initiated 115 FDI projects. January saw the highest average capital investment while the highest number of projects in a single month - 26 - was recorded in April 2012.

"Total FDI that flowed into Dubai during January-June 2012 was seven per cent up from the first half of 2011. The presence of larger projects is the most notable feature of the FDI inflow during the first half of 2012," Dubai FDI said in a statement.

In 2011, the UAE, which is giving final touches to a long expected foreign investment law, attracted more than Dh36.73 billion in foreign investment, emerging as a leading destination for FDI projects in the Middle East and Africa.

A total of 328 projects were launched, up 13 per cent from the previous year, data from FDI Intelligence shows.

According to United Nations Conference on Trade and Development, or Unctad, the UAE was the second top recipient of FDI in the Arab world at 75 billion in 10 years after Saudi Arabia at 154 billion.

Overall FDI trends during January-June 2012 reaffirm Dubai's pre-eminence as an investment destination of choice and reflect a growing confidence globally on the growth prospects across key sectors of the emirate's economy.

"More and more firms and investors worldwide are now convinced of the unique growth opportunities Dubai provides as a regional hub and business centre. The rise in number of multinationals relocating to Dubai and in FDI across key industry sectors in the emirate validate this," said Fahad Al Gergawi, chief executive officer of Dubai FDI.

"Dubai FDI is particularly proud to see such positive outcomes achieved by the government of Dubai as our focus is on comprehensively promoting business in Dubai and enabling investors to take advantage of Dubai's competitiveness," added Al Gergawi.

Similar to the first half of 2011, India, the US, the UK, Saudi Arabia, Qatar, Germany, Switzerland and France were on top among the source countries for FDI into Dubai in the first half of 2012. The top 10 countries accounted for 83 projects, or 72 per cent of the total, and their combined investment of Dhs15.5 billion was 94 per cent of the January-June 2012 FDI into Dubai. The UK and India accounted for 29 per cent of the FDI projects, mainly in business services.

"It is also noteworthy that a new breed of investors is finding Dubai the place to be. Dubai's world-class infrastructure, convenient links to the East as well as West and distinguished lifestyle is especially appealing for this generation of ambitious and innovative entrepreneurs," said Al Gergawi.

Almost 93.9 per cent of FDI projects initiated in Dubai during January-June 2012 are new investments, compared to 88 per cent in the first half of 2011. Moreover, almost 45 per cent of the projects came from companies that had not previously had a project recorded in Dubai.

Average capital investment in the new projects was Dh149 million, while average capital investment for expansion was Dhs56 million.


  MENA News Headlines
Apr 16 2014Air Arabia takes over as RAK official carrier ,MENAFN
(MENAFN) Air Arabia said that it will commence flights from Ras Al Khaimah (RAK) early next month, Arabian Business reported. The Sharjah-based carrier said that it will take over from RAK ...

Apr 16 2014Dubai Metro passengers hit 40.5m in Q1 ,MENAFN
(MENAFN) Passenger traffic on Dubai's Metro increased to more than 40.5 million in the January-March period of this year, Arabian Business repoted. The Roads and Transport Authority (RTA) said ...

Apr 16 2014Etihad, Fiji Airways ink codeshare deal ,MENAFN
(MENAFN) Etihad Airways and Fiji Airways have signed a codesharing agreement which allows reciprocal ticket sales between them, Arabian Business reported. Etihad said that the revenue from ...

Apr 16 2014Qatar's investments in infrastructure worth USD182.21 b ,MENAFN
(MENAFN) Qatar is planning to invest USD182.21 billion in infrastructure, avoiding projects in oil and gas sector, in the next five years, Minister of Economy and trade said yesterday, The Peninsula ...

Apr 16 2014Kuwait- GIC chief participates in ABANA Summit panel discussions ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Shafic Ali, head of the Principal Investments Group at Gulf Investment Corporation (GIC) late Tuesday participated in a panel discussion on (Emerging Trends in ...

Apr 16 2014Today in Kuwait's history ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) 1961 -- First edition of "Al-Rai Al-Aam" newspaper hit the stands. 1962 -- Kuwait joined the United Nations (UN) Commission on Narcotic Drugs. 1972 -- The Amir ...

Apr 16 2014EU voices concern over increase of terrorist attacks in Nigeria ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) EU High Representative for foreign affairs and security policy Catherine Ashton late Tuesday "strongly condemned" the abduction of more than 100 school girls in ...

Apr 16 2014Reporters Without Borders says three more pressmen killed in Syria ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Three more journalists have been killed by gunfire in the Syrian town of Maaloula, north of the capital Damascus, press freedom organisation Reporters Without ...

Apr 16 2014Three-day Sports Media Seminar begins in Doha ,The Peninsula
(MENAFN - The Peninsula) A group photograph of Arab sports journalists seen with TV personality Saad Al Rumaihi, Mohammed Al Malki, President of Qatar Press Sports Committee (QPSC), at Marriott Hotel ...

Apr 16 2014Prisoner's freedom sought for abducted Jordan ambassador ,Arab News
(MENAFN - Arab News) Tripoli: jordan's ambassador to libya was kidnapped on tuesday by gunmen who demanded a radical militant be released from a jordanian jail in exchange for the diplomat's ...

Apr 16 2014Saudi- Qur'an contest to be held in Jeddah next month ,Arab News
(MENAFN - Arab News) The saudi society of the holy qur'an and its sciences (tibyan) is going to hold a qur'an contest involving 60 universities from the public and private sectors next month in ...

Apr 16 2014Saudi- Philippines participates in Riyadh Travel Fair ,Arab News
(MENAFN - Arab News) The riyadh travel fair kicks off here in the kingdom tower on tudesday.the philippines will be represented by the department of tourism (dot) representatives glenn raymond ...

Apr 16 2014Saudi- New arbitration center hailed by leading figures ,Arab News
(MENAFN - Arab News) Lawyers legal arbitrators and businessmen described the decision to establish a saudi commercial arbitration center which was approved by the council of ministers in its ...

Apr 16 2014Saudi- Prices of fruits vegetables in Jeddah rise ,Arab News
(MENAFN - Arab News) There has been a 50-percent increase in the price of fruits and vegetables over the past 10 days due to an imbalance in supply and demand said esmat abuzinada head of ...

Apr 16 2014Private schools urged to use fingerprint systems ,Arab News
(MENAFN - Arab News) A number of public schools have applied the biometrics attendance system on students in line with the ministry of education's new regulation.the new system electronically ...

Apr 16 2014Saudi- Exhibit to showcase 1000 paintings ,Arab News
(MENAFN - Arab News) Arabian wings (aw) will kick off fiesta 1000 a display of 1000 paintings in jeddah on thursday at the al-furusya yacht club. 'the project has received support from different ...

Apr 16 2014Saudi- Technology remains core criteria for university education ,Arab News
(MENAFN - Arab News) Technology has become a core component at higher education institutions said higher education minister khaled al-anqari on tuesday during the opening address of the fifth ...

Apr 16 2014Saudi- Sponsors to pay fines for illegals ,Arab News
(MENAFN - Arab News) The labor ministry on tuesday announced extra measures to stop illegal visa trade and streamline the labor market. a senior official said saudi sponsors involved in the ...

Apr 16 2014Mentally ill kills family of 4 before ending life ,Arab News
(MENAFN - Arab News) A sudanese man his wife and three children were found dead in their apartment in riyadh on monday the police said.'preliminary investigations showed that the 46-year-old head ...

Apr 16 2014'My Saudi posting was a blessing from God' ,Arab News
(MENAFN - Arab News) Outgoing indian consul general faiz ahmed kidwai who is leaving after serving here for three years says it was a 'blessing from god" to have had a posting in saudi arabia.in a ...


Click to Apply



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help