On Saturday and Sunday, Arabian Business covered some of the most happening stories in the region, which included Dubai topping greenfield FDI ranking after $5.7bn investments; UAE becoming the fourth tourism spending destination in the world, and more.
Here are five trending stories you missed over the weekend.
‘People laughed when I suggested making Dubai a holiday destination – now UAE is 4th tourism spending destination in the world’: Sheikh Mohammed
Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and the Ruler of Dubai says people laughed when he suggested the UAE could develop into a holiday hotspot.
In a message on social media, Sheikh Mohammed highlighted a recent World Tourism Organisation report, which ranked the UAE fourth in the world for international spending.
Visitors spent AED224bn ($61bn) in the UAE last year, according to the WTO report, placing the country behind only the US, Spain and the UK.
Saudi Arabia announces launch of hydrogen train tests
Saudi Arabia Railways (SAR) has announced the launch of hydrogen train tests in the Kingdom, following the signing of an agreement with the French company Alstom.
It will conduct operational tests and studies necessary to prepare this type of train to fit the Kingdom’s environment, in preparation for its future entry into service, and in compliance with the memorandum of understanding signed by the Ministry of Energy and SAR on January 20, 2022.
The trials started this month, according to SAR, which said that such trains are the first to be used in the Middle East and North Africa region.
Saudi Arabia announces massive new nature reserve
Saudi Arabia has announced the creation of a massive new royal reserve in the Kingdom.
The Imam Faisal bin Turki Royal Reserve will spanning three administrative regions and extend to the Kingdom’s territorial waters in the Red Sea.
The new royal reserve will spread across Asir, Jazan and Makkah.
Dubai tops greenfield FDI ranking after $5.7bn investments
Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate attracting 511 greenfield projects in H1 2023, as per Financial Times “FDI Markets” data.
Dubai continues to set new benchmarks in global performance as an investment destination, surpassing second-placed Singapore by 325 projects.
During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 per cent, up from 3.83 per cent over the same six-month period last year.
Dubai tests drone delivery robots
Dubai is testing flying robot delivery drones as it looks to revolutionise logistics for the twenty-first century.
Dubai Silicon Oasis (DSO) hosted ground-breaking three-week long Beyond Visual Line of Sight (BVLOS) drone delivery trials conducted by Jeebly, a leading UAE-based logistics service provider and Skye Air Mobility, India’s largest SaaS based autonomous drone delivery company.
The testing conducted in cooperation with the Future Foundation, the Civil Aviation Authority and DSO, took place at the Experimental Zone in DSO.
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