The financial services sector in Dubai is at the top of the world rankings in attracting foreign direct investment projects

Dubai outperformed major financial cities, including London, Singapore, New York and Paris, by attracting foreign direct investment projects during 2021

The Dubai International Financial Center was the first in the world among the free zones to attract the most foreign direct investment projects in the financial services sector during 2021 and for the five years between 2017-2021, as it supported Dubai to attract 58 foreign direct investment projects. in this sector with a total value of 926.2 One million dirhams, with 1 432 new jobs created

Between 2017-2021, the financial services sector in Dubai attracted 184 FDI projects with a total value of 5.2 billion dirhams, with the creation of 5,727 jobs.

In line with the DIFC 2030 strategy, the Center supports sustainable economic growth and reaffirms Dubai’s position as a global hub for financial institutions, fintech companies and innovation companies.

This ambitious strategy aims to double the size of the DIFC and its economic contribution to Dubai’s GDP

Dubai United Arab Emirates: Dubai and the Dubai International Financial Center, the leading financial center in the Middle East, Africa and South Asia, topped the world rankings in attracting foreign direct investment projects in the financial services sector for the year 2021, according to a report by the Dubai has been issued. Investment Development Corporation of the Department of Economics and Tourism in Dubai.

The rankings are based on the Financial Times’ fDi Markets database, the most comprehensive database of new international investments, covering all countries and sectors around the world.

The Dubai International Financial Center also achieved first place during the five years between 2017-2021, based on its reputation as a global financial center, and its ongoing focus on shaping the future of the financial sector through leading companies and innovative attract start-ups to establish, operate and expand their business in Dubai. This classification confirms the objectives of the DIFC 2030 strategy to support sustainable economic growth and consolidate Dubai’s position as a global hub for financial institutions, financial technology companies and innovation companies. This ambitious strategy aims to double the size of the DIFC and its economic contribution to Dubai’s GDP.

According to the report of the “Dubai Monitor for Foreign Direct Investment,” published by the Dubai Investment Development Corporation, the emirate attracted 58 foreign direct investment projects in the financial services sector, with a total value of 926.2 million dirhams, and these projects 1 432 new jobs created in 2021. The report also indicated that Dubai had overtaken major financial cities such as London, Singapore, New York and Paris, confirming the status of the DIFC as a global financial center.

Some of the FDI projects include SRI International Group, an international business advisory group specializing in financial and strategic business; Team Up Ventures, an incubator and accelerator platform for young entrepreneurs and beginners; “FFA Private Bank”, one of the leading Lebanese investment companies in the field of capital markets and wealth management; Britium, a specialized alternative investment firm; In addition to Union Capital, a brokerage and investment advisory firm and a member of the US Financial Industry Regulatory Commission. M&A projects included Swiss private bank One Swiss and private holding company Bracket Invest.

Dubai attracted 184 foreign direct investment projects with a total value of 5.2 billion dirhams between 2017-2021, and these projects created 5,727 new jobs. By the end of 2021, Dubai was the first in the world to attract foreign direct investment projects in the financial services sector, third in job creation and fifth in generating capital from foreign direct investment.

Arif Amiri, Chief Executive Officer of the DIFC Authority, said: “The great confidence shown by the global financial services sector and the wider business community in the DIFC enables us to facilitate foreign direct investment in Dubai. led to Dubai being ranked first in the world to attract foreign investment. our commitment to continue to establish itself as the region’s leading global financial center – along with other global cities such as London, New York, Paris and Singapore – our commitment to continue to develop our global business-enabled ecosystem, and our ongoing strive to upgrade our legal and regulatory framework, and support innovation to attract companies from around the world. ”

In turn, Fahd Al Gergawi, Executive Director of the Dubai Investment Development Corporation, said: “We are proud that the Dubai International Financial Center is the world number one in attracting foreign direct investment projects in the financial services sector, and thus its consolidates as a leading global financial center in the region, relying on this success for its world-class infrastructure, stable and innovative environment, and Dubai’s top position in foreign direct investment is tangible proof of its solid foundations and the confidence of investors and multinational companies in this region.Despite the challenges of the pandemic and the economic changes the world has seen in recent years, it has provided Dubai with a strong and sustainable investment environment.At Dubai FDI will we continue to work to make Dubai’s attractiveness for direct foreign improve investment by providing specialized and reliable services to the investing community. ”

The Dubai Monitor for Foreign Direct Investment Report also revealed that the UK was at the top of the list of countries from which foreign direct investment projects in the financial services sector flowed during 2021, followed by the United States, Switzerland, India and Cyprus. The United Kingdom also maintained its lead as a source of foreign direct investment capital, followed by the United States, India, Switzerland and Lebanon in the same year.

During the five years between 2017-2021, the top five countries from which FDI projects flowed included the United Kingdom, the United States, Switzerland, India and China. In terms of the list of countries issuing direct foreign investment capital, the United Kingdom was at the top of the list, followed by the United States, the Cayman Islands, Bahrain and India in order.

According to the report, new investment projects (fully owned investments) accounted for 84% of the total foreign direct investment projects in the financial services sector in Dubai during 2021, compared to 81% between 2017 and 2021. Reinvestment projects accounted for 9% compared to 8%; While new investment projects (joint ventures) accounted for 2%, compared to 1% during the same period.

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About the Dubai International Financial Center

The Dubai International Financial Center is one of the most prominent financial centers in the world and the leading financial center in the Middle East, Africa and South Asia, comprising more than 72 countries with a population of almost 3 billion people, and ‘ an estimated GDP of $ 7.7 trillion.

The DIFC has a record of more than 18 years in promoting trade and investment flows across the Middle East, Africa and South Asia, and serves as a bridge connecting the region’s rapidly growing markets to the economies of Asia. , Europe and the Americas via Dubai.

The center offers an ideal and integrated work environment that combines a global and independent regulatory body, an effective legal system based on the principles of English common law, in addition to a vibrant business community, with a workforce of almost 30,000 professionals of more as 3,600 active and registered companies, making it the largest and most A Variety of leading human skills in the region.

The center’s vision is to lead the future of the financial sector through advanced technology, improve innovation and build partnerships, and it is today a leading future global center for the financial sector and innovation, providing the most comprehensive environment for the financial technology sector and venture capital in the region, including the provision of effective licensing solutions, a targeted legislative system and programs Innovation Accelerators and financing services for growth-stage start-ups.

The Dubai International Financial Center offers a variety of retail options, international restaurants, other art galleries, apartments, luxury hotels and public spaces. The center continues with its leadership position as one of the most prominent destinations for business and lifestyle in Dubai.

For more information, please contact:

Omar Nasro

Asdaa bcw global.com-omar.nasro@bcw bcw.com-www.asdaa www.arabyouthsurvey.com

Rasha Mezher

Dubai International Financial Center Authority

Consultant – Marketing and Corporate Communication

3622451 4 971 t-rasha.Mezher@difc.ae

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