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FINANCIAL NEWS
FDI in Dubai reaches USD1.08b
23 Dec 2011
(MENAFN) Dubai Department of Economy’s foreign investment office’s executive director, Fahd Al Gargawi, said that during the current year, the emirate managed to attract USD1.08 billion in foreign direct investment (FDI), reported Emirates 24/7.
Al Gargawi added that at the end of the current year, foreign capital would be forecasted to reach around USD7.3 billion, compared with nearly USD6.2 billion at the end of last year.
He also said that the main foreign investor in Dubai was Japan, whereas the US had the largest number of projects, followed by the UK, India, France and Germany, on the other hand, he said that FDI in 2012 would be expected to remain strong, adding that the emirate’s real estate sector would be expected to attract new Chinese investments.
It is worth noting that investments in Dubai cover several sectors including financial services, tourism, hotels, trade, business services and the hydrocarbon sector.
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