The Dubai Investment Development Agency (Dubai FDI) has received international recognition for its efforts in capturing foreign direct investment trends that have positioned Dubai as a global investment destination.
The “Dubai FDI Monitor”, an open data initiative of the agency, which is part of the emirate's Department of Economy and Tourism, was recognised as best practice among investment promotion agencies for monitoring and evaluation by the United Nations Economic and Social Commission for Asia and the Pacific.
The first city-level FDI reporting system in the world, Dubai FDI Monitor tracks and records five different types of foreign investment flows in real time, including greenfield FDI and new forms of investments, using advanced methodology and smart features, Dubai FDI said on Sunday.
The monitor was featured in the UN agency's handbook on policies, promotion, and the enabling of FDI for sustainable development in Asia and the Pacific.
The recognition follows Dubai FDI's annual results and rankings, where Dubai achieved the top spot in the world in attracting FDI in 2021.
“Dubai’s remarkable FDI performance and global recognition are a testament to its efficiency, resilience, stability and sustainability,” Fahad Al Gergawi, chief executive of Dubai FDI, said.
The emirate has become a role model for global best practices in attracting FDI and the UN agency's recognition underpins “Dubai’s ambitious journey towards nurturing close co-operation with global investors and partnerships with FDI source countries”, he added.
Dubai claimed the top spot globally for attracting FDI projects last year. It was ranked second in terms of attracting corporate headquarters as the emirate’s economy continues to rebound from the Covid-19 pandemic.
The emirate — the tourism and commercial hub of the Middle East — attracted 418 greenfield FDI projects during the period, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the emirate's Executive Council, said in May.