As a result of the Dubai Investment Development Agency’s (Dubai FDI) efforts to identify foreign direct investment trends, Dubai has gained respect on a global scale as a prime location for investments.
The “Dubai FDI Monitor”, an open data initiative of the agency, which is part of the emirate’s Department of Economy and Tourism, was recognized as best practice among investment promotion agencies for monitoring and evaluation by the United Nations Economic and Social Commission for Asia and the Pacific.
The first city-level FDI reporting system in the world, Dubai FDI Monitor tracks, and records five different types of foreign investment flows in real-time, including greenfield FDI and new forms of investments, using the advanced methodology and smart features, Dubai FDI said on Sunday.
The monitor was featured in the UN agency’s handbook on policies, promotion, and the enabling of FDI for sustainable development in Asia and the Pacific.
The recognition follows Dubai FDI’s annual results and rankings, where Dubai achieved the top spot in the world in attracting FDI in 2021.
“Dubai’s remarkable FDI performance and global recognition are a testament to its efficiency, resilience, stability and sustainability,” Fahad Al Gergawi, chief executive of Dubai FDI, said.
The emirate has become a role model for global best practices in attracting FDI and the UN agency’s recognition underpins “Dubai’s ambitious journey towards nurturing close co-operation with global investors and partnerships with FDI source countries”, he added.
Dubai claimed the top spot globally for attracting FDI projects last year. It was ranked second in terms of attracting corporate headquarters as the emirate’s economy continues to rebound from the Covid-19 pandemic.
According to Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai and Chairman of the emirate’s Executive Council, the emirate, which serves as the Middle East’s tourism and commercial hub, received 418 greenfield FDI projects during the time.
