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Dubai Becomes an Attractive Destination for FDI: Alhamli
DUBAI — The UAE has become an important centre of attraction for world investment in various sectors, said Hani Alhamli, Secretary-General of Dubai Economic Council. He also stressed that the latest figures the country recorded in various fields are great achievements amid the global financial crisis.
Alhamli’s statement comes in the light of the newly launched World Investment Report 2009 by the UNCTAD. The report revealed that UAE has retained its attractiveness in FDI compared to many advanced and emerging markets. Alhamli pointed out that UAE experience over the last years in economic development unveils the strategic vision of the UAE’s wise leadership to enhance the growth path through regional and global integration, and to take the opportunities provided by the globalised markets. In this regard, Alhamli said that attracting FDI is one of the main policies advocated by the government because of its advantages for the local economy such as increasing the investments and hence the growth rate, raising the employment rate, in addition to transferring the technology and know-how to the country.
Alhamli also said that Dubai has contributed significantly in attracting FDI to the UAE because of its distinguished place in the regional and global business map.
The World Investment Report 2009 showed that the volume of FDI inflow into the UAE were $13.7 billion (Dh50.28) in 2008 against $14.19 billion (Dh52.1 billion) in 2007. On the other hand, the report indicated that the cumulative value of these investments at the end of 2008 stood at $69.42 billion (Dh254.8 billion), around 25 per cent of the UAE’s GDP.
Alhamli said that the report shows a clear development relating to the FDI inflow. The number of projects implemented by foreign investors across the UAE during last year was 480 projects, an impressive growth of 70 per cent compared to 2007. The number of these projects in 2009 first quarter was 136 projects. Alhamli said that these figures reflect the concrete foundations of the national economy and its high competitive advantage in comparison with many other countries.
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