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Thu 23 May 2019 01:57 PM

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Dubai on mission to Spain to secure more investment

Dubai FDI completes mission to Madrid, Barcelona and Seville after Spanish investments hit AED3.3bn in 2018

Dubai on mission to Spain to secure more investment
The Dubai delegation visited Madrid (pictured), Barcelona and Seville.

Dubai FDI, the investment development agency of Dubai Economy (DED), has completed a mission to Spain’s leading cities as it looks to build on a recent jump in foreign direct investments from the European country.

The Dubai delegation visited Madrid, Barcelona and Seville and engaged 45 top-level investors through seminars and strategic one-to-one private meetings covering major opportunities in the emirate.

Fahad Al Gergawi, CEO of Dubai FDI, said the mission follows recent growth in Spanish investments in Dubai.

Foreign direct investments from Spain reached AED3.3 billion in 2018, ranking it fourth among the top investors in terms of FDI capital inflows, compared to AED1.1 billion in 2016.

The top sectors seeing the investments iinclude non-residential building construction, accommodation and food services, arts, entertainment and recreation, management of companies and enterprises, and retail and wholesale trade.

The UAE is currently home to about 200 Spanish-owned companies, while more than 7,000 Spanish citizens reside in the country.

Links between both countries are boosted by four flights daily with Emirates which increased from two flights a week five years ago.

Arabian Business digital magazine: read the latest edition online