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23 July 2024

Dubai named preferred investment destination by World FDI Forum

By Wam

Dubai FDI, the investment development agency of the Department of Economic Development in Dubai (Dubai Economy), has won the 2019 Top Investment Promotion Agency (IPA) Award for the Middle East at the World FDI Forum 2019 being held in Sydney, Australia.

Presented by Site Selection magazine, the award recognises the UAE as the "overall best to invest" and the "best to invest per capita".

Fahad Al Gergawi, CEO, Dubai FDI said: "We are delighted to receive this award. This award reflects Dubai’s continued commitment to ensure it is a preferred investment destination. Forward looking policies as well as our constant engagement with investors and companies ensure that we create initiatives that enhance investor confidence in Dubai," he said.

Dubai’s initiatives have continued to reinforce Dubai’s profile as a preferred investment destination of choice, with first half results reflecting Dubai’s pro-business environment. In the first quarter of 2019, Dubai attracted $5.5 billion, a 176 percent increase from Q1 2018.

Abdulla AlSubousi, UAE Ambassador to Australia, said "Congratulations to Dubai FDI for winning the 2019 Top Investment Promotion Agency Award for the Middle East region at the World FDI Forum and their global ranking of the city as ‘best positioned for investment’. This is a testament to the UAE Government’s continuous pro-investment regulations and implementations of latest policies welcoming investors."

Adam Jones-Kelly, CEO of Conway and President & Publisher of Site Selection magazine said: "Dubai FDI has repeatedly demonstrated the crucial role investment promotion agencies play and how pro-active agencies can flip global trends. FDI into Dubai continues to grow despite a global downturn in FDI. Additionally, Dubai FDI received more total votes than any other agency in the world."

The three-day World FDI Forum highlighted best practices across multiple industries, such as FinTech and Industry 4.0, all with the aim to increase FDI.