For Foreign Direct Investment - Dubai on Top in 2008

A special report has been published on Foreign Direct Investment (FDI) by the Financial Times. In this report it’s for the first time that Dubai has been classified as the top destination in the world. The likes of Shanghai and London are kept aside and Dubai has come up as a great destination city. Dubai’s position is now known, as the top destination city, it has attracted 342 projects and around 58,000 new jobs were created in the year 2008. A capital investment of $21bn has been made and for FDI, UAE once again has become the leading destination with 480 projects in hand.

The Governor of Dubai International Financial Centre and Vice Chairman of the Central Bank of the UAE, His Excellency Dr. Omar Bin Sulaiman commented on the report by saying that “The number of projects initiated, the capital investment and jobs created in the UAE are proof of the economic strength of the country." If we look at the complete Middle East, the sources shows that the total projects of 969 were assigned with the capital expenditure of $154bn. His Excellency Dr. Omar Bin Sulaiman said: “This report is a testament to the strategy of both the UAE and Dubai under the directives of HH Sheikh khlaifa bin Zayed Al Nahyan, President of the UAE and HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; a strategy of openness and diversification”.

All this is said to be a remarkable achievement by one of the well known emirates in the UAE, Dubai. He added that this achievement by Dubai of becoming the foremost city for foreign direct investment will be continued to demonstrate the benefit of investing in UAE and Dubai.