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FINANCIAL NEWS
Dubai FDI investment to grow 10-15 percent in 2014
19 Nov 2014
(MENAFN) Dubai’s foreign direct investment is expected to grow by 10-15 percent this year compared to 2013, with focus being on the mega projects which have been announced by the government
The sectors that have attracted investments include trade, services, aviation and logistics, with expectations that investment will also rise in entertainment and hospitality projects, while the main countries investing in Dubai include the US, UK, India, Switzerland and Saudi Arabia.
This growth is mainly driven by Dubai winning the bid to host the World Expo 2020, a six-month trade event, which is expected to attract 25 million visitors, with Dubai’s foreign trade is predicted to reach USD1.08 trillion by hosting the event.
Projects with an expected worth of USD8.16 billion are expected to be built across Dubai to further enhance its infrastructure as the emirate prepares to host the event, which is expected to create up to 100.000 new jobs over 2015-2021, as well as add 0.5-0.6 percentage points to gross domestic product (GDP)
As a whole, the UAE’s FDI is expected to be valued at USD14.4 billion in 2014, an increase by 20 percent compared with USD12 billion in 2013.
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