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AED 403 billion of foreign investment in Dubai

​Image: Arif Al Muhairi - CEO

​Image: Arif Al Muhairi - CEO

Wholesale and retail topped the list of activities

In Dubai, foreign investment amount stood at AED 403 billion including 3 types of foreign investment in accordance with international standards adopted in this respect: FDI, portfolio investments and other investments.

Arif Al Muhairi, Executive Director of Dubai statistics Center stated to Al Bayan that the results of Dubai Foreign Investment Survey for 2016 revealed the figures for 2015, where foreign direct investment accounted for 67.2% of the total foreign investments, with the amount of AED 270.8 billion, with a growth rate of 9.5% compared to the previous year.

He explained that foreign direct investment is the most important among the types of investments, which originates mostly from the flow of resident capital in other economies to the local economy for long periods.

It is usually accompanied by the transfer of knowledge and technology, which gives it that importance and significant impact on productivity support.  In second place in terms of relative importance comes other foreign investments, which totaled nearly AED 124 billion in 2015, contributing 30.8% of the total foreign investment in Dubai.

The data indicate a decline in the balance of other investments compared to 2014 by 16.5%. This   fluctuation in the balance of this kind of investment is due to its constantly changing nature, which mostly consists of long term loans and deposits, commercial credit and similar non-resident foreign investment enterprises.

While portfolio investments accounted for 2% of the total foreign investments, which grew by 3.6%, with a total balance of AED 8.2 billion at the end of the year 2015 compared to AED 7.9 billions at the end of 2014, which is in the form of investments in bonds or negotiable property among enterprises in the national economy, institutions or individuals in the rest of the world.

United Kingdom and India

He noted that residents in the United Kingdom and India were the foreigners who contributed most to foreign direct investment, as the United Kingdom and India have maintained their rank at the top of the list of the highest countries in the volume of  FDI. The total FDI has an approximate total of AED 65 billion and contributed by 23.9% of the total FDI in the same period.

Al Muhairi asserted that Dubai has managed to maintain its position as one of the best options that appeal to foreign investments, through its constantly evolving infrastructure that supports its global prestige and utilizes all policies and legislation to motivate investors. He explained that the prestige and global reputation, competitive  and legislative environment enjoyed by the Emirate of Dubai are a key element in attracting investments from various countries around the world.

Commerce acquires 38.2%

The report showed that FDI stood at AED 270.8 billion through 2015, achieving a growth rate of 9.5% compared to the year 2014. The wholesale and retail activities stood at top of the activities list in terms of FDI balance, as it represents 38.2% with the balance of AED 103.5 billion in 2015 compared to AED 88.6 billion in 2014, at a growth rate of 16.9% worth AED 14.9 billion.

The financial sector came in second in terms of relative importance in FDI, accounting for 22.1% of the total FDI balance worth AED 59.8 billion in 2015 compared to AED 58.4 billion in 2014, at a growth rate of 2.4%.

FDI real estate balance came in third place in terms of relative importance, as this activity contributed in 2015 about 21.7%, with the balance of AED 58.8 billion versus AED 53.3 billion in 2014, with a growth rate of 10.3%.

The balance of FDI in other economic activities amounted to AED 48.6 billion versus AED 46.9 billion in 2014 at a growth rate of 3.6%, contributing by 18% of the total FDI balance in Dubai.