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Thu 21 Nov 2019 02:29 PM

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Revealed: Dubai's 2020 hitlist to grow foreign direct investments

Dubai FDI says missions next year include two trips to the US and single trips to India, China and Australia

Revealed: Dubai's 2020 hitlist to grow foreign direct investments

Fahad Al Gergawi, CEO of Dubai FDI.

Dubai FDI, the investment development agency of Dubai Economy, has announced its series of global missions for 2020.

The missions scheduled for next year will include two official trips to the United States, and single trips to India, China and Australia.

Fahad Al Gergawi, CEO of Dubai FDI, said: “Dubai FDI is organising these missions to promote Dubai and its ideal investment environment while also highlighting current and future investment opportunities in the strategic and emerging economic sectors - all falling in line with Dubai's vision to make the emirate a preferred global FDI destination under the Dubai 2021 Plan.”

According to Dubai FDI Monitor, Dubai has attracted 257 FDI projects, worth AED44.6 Billion, during the first six months of 2019.

“We are confident that these global investment missions for 2020 will further enhance the strong ties between Dubai FDI and global countries and increase FDI inflows into the country,” said Al Gergawi. 

According to Dubai FDI senior officials, official investment missions made over the last five years have generated success in attracting foreign investments (FDI) into the emirate.

The US, the leading investor in terms of FDI capital inflows into Dubai, contributed 37 percent of total FDI capital and 23 percent of total FDI projects into Dubai during 2018 while the first six months of 2019 resulted in 55 FDI projects worth AED16.56 billion.

Dubai FDI has outlined two missions to the US in 2020 - the first trip to include visits to New York, Orlando and Miami - while the second trip to cover stops like Boston, Salt Lake City, Pittsburg and Nashville.

The missions to the US will cover key industries like aerospace, advanced technology, trade, finance services, film and media, manufacturing, life sciences, healthcare, agriculture and processed food. 

China contributed seven percent of total FDI capital and five percent of total FDI projects in Dubai for 2018 while in H1 2019 helped create 13 FDI projects worth AED13.112 billion in investments from China.

Dubai FDI missions to Chengdu and Shenzhen in 2020 will cover key industries like automotive, manufacturing, advanced technology, logistics, maritime information technology, food products and agriculture. 

India contributed 7.4 percent of total FDI capital and seven percent of total FDI projects into the emirate in 2018 while the first six months of 2019 also saw the entry of 15 FDI projects worth AED2.571 billion from India.

Dubai FDI is set to visit major cities that include Mumbai, Bangalore and Kochi in 2020, covering lead industries like aerospace, manufacturing, advanced technology, information technology, finance, film, life sciences and healthcare, food products and agriculture. 

Australia contributed 0.05 percent of total FDI capital and 0.96 percent of total FDI projects into Dubai in 2018 while the first half of 2019 resulted in the creation of 6 FDI projects worth AED25.35 million from Australia.

Missions to the country next year will include Sydney and Brisbane and will cover industries like education, manufacturing, advanced technology, retail, mining, professional services, agriculture, life sciences and healthcare.

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