Business

Dubai retains top spot as global leader in Greenfield FDI

Published

2 weeks ago

March 10, 2025

Dubai has once again cemented its status as the world’s No.1 destination for Greenfield Foreign Direct Investment (FDI) projects, maintaining its leading position for the fourth consecutive year, according to the latest data from Financial Times Ltd.’s ‘fDi Markets.’

In 2024, Dubai attracted an estimated Dh52.3 billion ($14.24 billion) in FDI capital, marking a 33.2% increase from Dh39.26 billion ($10.69 billion) in 2023. This represents the highest FDI value recorded for the emirate since 2020, underscoring its appeal as a prime global investment hub.

The emirate also achieved a new milestone by recording 1,117 Greenfield FDI projects in 2024, the highest in its history. In total, Dubai announced 1,826 FDI projects, an 11% increase from 2023, reinforcing its ability to attract international investment. The influx of FDI generated 58,680 new jobs in 2024, reflecting a 31% increase from the previous year and further demonstrating Dubai’s role as a major employment driver.

Strategic Vision and Investment Leadership

Dubai’s consistent FDI growth is the result of strategic economic planning, spearheaded by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and supported by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

The city’s investment policies align with the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033 and position it among the world’s top three urban economies.

Sheikh Hamdan stated, “Dubai’s ability to sustain its No.1 global ranking in Greenfield FDI attraction is a testament to its strategic vision and investor-centric approach. Despite global economic challenges, Dubai continues to offer a stable, forward-looking business environment that fosters long-term growth and innovation.”

What is Greenfield investment?
Greenfield investment (GI) refers to a type of foreign direct investment (FDI) where a company establishes operations in a foreign country. The company constructs new (green) facilities (sales office, manufacturing facility, etc.) cross-border from the ground up.

A Global Investment Magnet

Dubai’s ability to attract international capital is driven by its world-class infrastructure, investor-friendly regulations, and strategic geographic position. In 2024, the city ranked third globally in terms of job creation through inward FDI, up from fourth in 2023, while maintaining its top ranking in the Middle East and Africa (MEA). Key sectors contributing to this growth include business services, software and IT, real estate, financial services, and industrial equipment.

For the third consecutive year, Dubai was ranked No.1 globally in attracting Headquarter (HQ) FDI projects, securing 50 major HQ investments in 2024 alone. The city also saw a rise in investments across advanced sectors such as artificial intelligence (AI), cybersecurity, and e-commerce, further strengthening its position as a global technology and innovation hub.

Investment Confidence and Market Leadership

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), highlighted the emirate’s resilience in attracting capital. “Dubai’s ability to continuously draw foreign investment amid evolving global economic conditions is a reflection of its strong governance, strategic planning, and robust business ecosystem.”

According to ‘fDi Markets’ data, Dubai led in Greenfield FDI projects across multiple industries, including financial services, real estate, and technology. The emirate’s share of global FDI projects in Advanced Information Technologies (AIT) increased from 7.3% in 2023 to 8% in 2024, reinforcing its leadership in the digital economy.

Key Investment Sources and Sectors

Dubai’s top five FDI source countries accounted for 63% of total investment inflows in 2024, with India leading at 21.5%, followed by the US (13.7%), France (11%), the UK (10%), and Switzerland (6.9%).

The top sectors attracting FDI capital included hotels & tourism (14%), real estate (14%), software & IT services (9.2%), building materials (9%), and financial services (6.8%). Meanwhile, the most active sectors in terms of FDI projects were business services (19.2%), food & beverages (16.5%), and software & IT services (14.3%).

Future Outlook: Sustaining Growth Amid Global Shifts

Dubai’s outlook for FDI in 2025 remains positive despite global economic uncertainties. The emirate is expected to maintain its strong investment momentum, particularly in high-tech and innovation-driven sectors. With an investor-friendly regulatory environment and a focus on long-term economic stability, Dubai continues to attract major private equity and sovereign investors.

As the city advances toward its ambitious economic goals, Dubai remains a global benchmark for investment excellence, economic resilience, and business-friendly policies. Its ability to consistently deliver on its strategic vision ensures that it remains a top destination for international investment, trade, and innovation in the years ahead.

(Source: Wam)

Business

Onions prices set to drop in UAE: Here’s what it means for residents and restaurants

Published

21 hours ago

March 25, 2025

Michael Gomes

Exciting news for households, restaurants, and eateries across the UAE. Onions, a vital ingredient in countless dishes, are set to become more affordable. Thanks to India’s decision to abolish export duties on onions — its most significant export — this essential kitchen staple will soon be more accessible, making it easier for everyone to enjoy their favourite dishes at a lower cost.

The announcement, made yesterday (March 25 )by India’s Minister for Agriculture and Farmers’ Welfare, Shivraj Singh Chouhan, is expected to bring down onion prices across the GCC, including in the UAE, as well as in Bangladesh, Nepal, Malaysia, and Sri Lanka.

For months, high export duties — peaking at 40% before being reduced to 20% — had kept onion prices inflated. But with this duty now completely removed, experts predict a significant drop in onion prices, making them more affordable for shoppers across the region.

India, known as the world’s onion powerhouse, is the primary supplier to the Gulf states, where the vegetable is a must-have ingredient in countless dishes. Other major exporters include Pakistan, China, and Egypt, but Indian onions have long dominated the market due to their quality and availability.

Good News for Farmers Too!

While UAE consumers will benefit from lower prices, Indian farmers are also celebrating. The removal of export duties will allow them to sell onions at higher prices globally, boosting their income.

This move is part of India’s broader strategy to ease export restrictions on staple food items, which were previously imposed to control domestic inflation. The Indian government is now progressively revising these policies to support both farmers and international trade.

With onion prices expected to drop in UAE supermarkets in the coming weeks, shoppers can look forward to bigger savings on their grocery bills.

(Source: Wam)

Business

UAE: Five banks, two insurers fined Dh2.62 million for violating rules

Published

22 hours ago

March 25, 2025

Michael Gomes

The Central Bank of the UAE (CBUAE) has imposed financial penalties amounting to Dh2.62 million on five banks and two insurance companies for failing to comply with international financial reporting standards.

The fines were issued due to violations of the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) guidelines, which require financial institutions to ensure accurate reporting and due diligence. Despite being given sufficient time to correct their processes, these institutions failed to meet the necessary compliance standards.

The CBUAE stated that these measures aim to strengthen the UAE’s financial sector by enhancing transparency and aligning with global efforts to prevent tax evasion. This step also reinforces the country’s reputation as a trusted international financial hub committed to best practices.

(Source: Wam)

Business

UAE Central Bank releases new Dh100 banknote: Here’s what makes it unique

Published

22 hours ago

March 25, 2025

Michael Gomes

The Central Bank of the UAE (CBUAE) has introduced a brand-new Dh100 banknote, crafted from durable polymer and featuring state-of-the-art security enhancements. This latest addition to the nation’s currency reflects the UAE’s vision for innovation, sustainability, and global leadership.

A Celebration of UAE’s Progress and Heritage

Part of the CBUAE’s Third Issuance of the National Currency Project, the new banknote is more than just money—it’s a tribute to the UAE’s incredible journey as a thriving economic and commercial hub. Designed with striking shades of red, the banknote seamlessly blends cultural and developmental symbols, reinforcing the country’s rich heritage and ambitious future.

On the front, you’ll find the Umm Al Quwain National Fort, a historic landmark that stands as a bridge between the UAE’s past and present. Meanwhile, the reverse showcases two symbols of the nation’s modern success:

Port of Fujairah – One of the country’s largest ports, a key global shipping and maritime hub.
Etihad Rail – The UAE’s game-changing railway network, seamlessly connecting the seven Emirates and extending to the Gulf Cooperation Council (GCC) countries, promoting economic growth and social unity.

Security Meets Innovation

The CBUAE has equipped the Dh100 note with cutting-edge security features to protect against counterfeiting. These include:

Park Flow Dimensions Technology – A high-tech security element with dynamic color shifts.
Kinegram Colours – A multi-layered, holographic security chip ensuring authenticity.

Made from eco-friendly polymer, this banknote is not just visually striking but also highly durable, lasting twice as long as traditional paper notes. To ensure accessibility, it features Braille symbols to assist visually impaired users in identifying its value.

When Does It Enter Circulation?

Starting March 24, 2025, the new Dh100 banknote will officially enter circulation, coexisting with the current edition. Banks and exchange houses have been instructed to update their cash-handling machines for seamless transactions.

Award-Winning Innovation

The UAE continues to earn global recognition for its advanced currency designs. The CBUAE recently won the ‘Best New Banknote’ award at the 2023 and 2025 High Security Printing EMEA conference for its Dh500 and Dh1,000 polymer banknotes.

(Source: Wam)