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FINANCIAL NEWS
Dubai FDI adds USD936m to economy in 2011
05 Feb 2012
(MENAFN) Dubai FDI said that in 2011, the foreign investment office of the Department of Economic Development, brought USD936 million in capital to the emirate’s economy, reported Gulf News.
Dubai FDI added that it also brought 77 firms, with combined revenue of USD4.51 billion.
It also said that foreign direct investments into Dubai were mainly in the logistics, tourism and hospitality sectors, adding that the emirate was taking advantage from money flows from emerging markets, including China and India, especially since foreign direct investments from developed markets into emerging markets have slowed, mostly as a result of the euro-zone debt crisis.
It is worth noting that the tax-free status in the UAE permits foreign companies to boom, with Chinese firms establishing their offices in Dubai to supply products to markets in Africa and other countries in the region.
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