Dubai attracted a record 837 FDI projects in 2022, achieving the highest growth in global share in seven years. Getty
Dubai attracted a record 837 FDI projects in 2022, achieving the highest growth in global share in seven years. Getty
Dubai attracted a record 837 FDI projects in 2022, achieving the highest growth in global share in seven years. Getty
Dubai attracted a record 837 FDI projects in 2022, achieving the highest growth in global share in seven years. Getty

Dubai retains position as top global centre for FDI projects in 2022


Sarmad Khan
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Dubai retained its position as the world's top destination for attracting greenfield foreign direct investment projects in 2022 for the second consecutive year, cementing its position as a worldwide FDI centre despite global economic headwinds, a report has found.

The emirate, the tourism and commercial centre of the Middle East, achieved 89.5 per cent year-on-year growth in FDI projects announced last year, Dubai Media Office said, citing data from the 2022 Financial Times fDi Markets report on Sunday.

Total FDI capital last year also surged 80.3 per cent, consolidating the emirate status as among the top-three global city economies, a key goal of the Dubai Economic Agenda D33.

“Dubai’s ability to secure the No 1 global ranking for Greenfield FDI projects for the second year in a row demonstrates its ability to sustain its compelling investment value proposition, even at a time when the worldwide economy is facing headwinds,” said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Executive Council.

“The emirate offers the deep stability, sustainability, infrastructure and opportunity-rich environment needed to ensure the long-term trust of international investors, businesses and entrepreneurs.”

Dubai attracted an estimated Dh47 billion ($12.8 billion) in FDI capital in 2022, almost doubling the Dh26.07 billion recorded in 2021.

An estimated 38,447 jobs were created in Dubai last year through these projects, compared to 24,932 in 2021, the media office said, citing data from Dubai FDI Monitor.

“Over the years, Dubai has forged dynamic partnerships with global investors to accelerate innovation and create enduring economic value,” Sheikh Hamdan said.

“Dubai leads the world in attracting FDI in a wide range of industries, especially future-oriented sectors, a fact that is a testament to the strategic vision articulated in the Dubai Economic Agenda D33.”

Dubai's economy has bounced back strongly from the coronavirus-driven slowdown in 2020.

The emirate’s gross domestic product has maintained strong growth momentum since, driven by a strong recovery in travel and tourism, and retail sectors.

Dubai’s economy expanded by 4.6 per cent on an annual basis in the first nine months of 2022, with retail trade accounting for 24.1 per cent of its GDP, according to data from the emirate's statistics centre.

Emirates NBD estimates Dubai's full-year growth for 2022 at 5 per cent and expects its GDP to expand by 3.5 per cent this year.

Dubai last year continued to maintain and improve its leadership position across key FDI attractions, while economic momentum continued across sectors of the economy.

Dubai’s ability to secure the No. 1 global ranking for Greenfield FDI projects for the second year in a row demonstrates its ability to sustain its compelling investment value proposition even at a time when the worldwide economy is facing headwinds
Sheikh Hamdan bin Mohammed,
Crown Prince of Dubai and Chairman of the Executive Council

The emirate was ranked first in attracting FDI projects into tourism, business services, financial services, transport and warehousing, consumer products, and software and IT services sectors, the fDi Markets data showed.

Dubai also emerged as the 2022 world leader in attracting FDI projects in the creative industries cluster, in research and development projects.

Dubai’s share in attracting global Greenfield FDI projects reaches 4 per cent in 2022, a 1.9 per cent increase on an annual basis. It attracted a record 837 projects, achieving the highest growth in global share in the past seven years.

The top five source countries for FDI projects accounted for 54 per cent of the total in 2022, split among the US (20 per cent), the UK (13 per cent), India (12 per cent), France (5 per cent) and Switzerland (4 per cent), the Media Office said.

The top five source countries for FDI capital accounted for 72 per cent of the total estimated flows into the emirate in 2022, split among Canada (41 per cent), the UK (12 per cent), the US (11 per cent), India (4 per cent) and Switzerland (4 per cent).

Transport and warehousing, hotels and tourism, renewable energy, software and IT services, and consumer products were the top sectors.

They accounted for 76 per cent of the total estimated flows into Dubai and 68 per cent of announced FDI projects.

“Dubai’s leading global FDI ranking underpins a comprehensive framework of initiatives that were launched to further strengthen the city’s business and investment environment,” Helal Almarri, director general of the Department of Economy and Tourism, said.

“The growth of the city’s share in global Greenfield FDI projects clearly indicates our strategy’s effectiveness.”

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LAST-16 FIXTURES

Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi

Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi

Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi

Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

MATCH INFO

Manchester City 4 (Gundogan 8' (P), Bernardo Silva 19', Jesus 72', 75')

Fulham 0

Red cards: Tim Ream (Fulham)

Man of the Match: Gabriel Jesus (Manchester City)

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

THE SPECS

Engine: six-litre W12 twin-turbo

Transmission: eight-speed dual clutch auto

Power: 626bhp

Torque: 900Nm

Price: Dh940,160 (plus VAT)

On sale: Q1 2020

RESULTS

Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO

Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke

Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke

Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO

Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision

Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision

Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO

Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)

Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)

Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision

Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke

Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO

Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision

Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision

Huroob Ezterari

Director: Ahmed Moussa

Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed

Three stars

The low down on MPS

What is myofascial pain syndrome?

Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (­connective tissue that covers the muscles, which develops knots, also known as trigger points).

What are trigger points?

Trigger points are irritable knots in the soft ­tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and ­sustained posture are the main culprits in developing ­trigger points.

What is myofascial or trigger-point release?

Releasing these nodules requires a hands-on technique that involves applying gentle ­sustained pressure to release muscular shortness and tightness. This eliminates restrictions in ­connective tissue in orderto restore motion and alleviate pain. ­Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.

Results

6.30pm Madjani Stakes Rated Conditions (PA) I Dh160,000 1,900m I Winner: Mawahib, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)

7.05pm Maiden Dh150,000 1,400m I Winner One Season, Antonio Fresu, Satish Seemar

7.40pm: Maiden Dh150,000 2,000m I Winner Street Of Dreams, Pat Dobbs, Doug Watson

8.15pm Dubai Creek Listed Dh250,000 1,600m I Winner Heavy Metal, Royston Ffrench, Salem bin Ghadayer

8.50pm The Entisar Listed Dh250,000 2,000m I Winner Etijaah, Dane O’Neill, Doug Watson

9.25pm The Garhoud Listed Dh250,000 1,200m Winner Muarrab, Dane O’Neill, Ali Rashid Al Raihe

10pm Handicap Dh160,000 1,600m Winner Sea Skimmer, Patrick Cosgrave, Helal Al Alawi

While you're here
Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

MATCH INFO

England 241-3 (20 ovs)

Malan 130 no, Morgan 91

New Zealand 165 all out (16.5ovs)

Southee 39, Parkinson 4-47

England win by 76 runs

Series level at 2-2

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The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

Results

1. New Zealand Daniel Meech – Fine (name of horse), Richard Gardner – Calisto, Bruce Goodin - Backatorps Danny V, Samantha McIntosh – Check In. Team total First round: 200.22; Second round: 201.75 – Penalties 12 (jump-off 40.16 seconds) Prize €64,000

2. Ireland Cameron Hanley – Aiyetoro, David Simpson – Keoki, Paul Kennedy – Cartown Danger Mouse, Shane Breen – Laith. Team total 200.25/202.84 – P 12 (jump-off 51.79 – P17) Prize €40,000

3. Italy Luca Maria Moneta – Connery, Luca Coata – Crandessa, Simone Coata – Dardonge, Natale Chiaudani – Almero. Team total 130.82/198.-4 – P20. Prize €32,000

COMPANY%20PROFILE%20
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How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

The specs

Engine: 2.3-litre, turbo four-cylinder

Transmission: 10-speed auto

Power: 300hp

Torque: 420Nm

Price: Dh189,900

On sale: now

The specs: 2017 Lotus Evora Sport 410

Price, base / as tested Dh395,000 / Dh420,000

Engine 3.5L V6

Transmission Six-speed manual

Power 410hp @ 7,000rpm

Torque 420Nm @ 3,500rpm

Fuel economy, combined 9.7L / 100km

SERIES INFO

Cricket World Cup League Two
Nepal, Oman, United States tri-series
Tribhuvan University, Kathmandu
 
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal

Table
The top three sides advance to the 2022 World Cup Qualifier.
The bottom four sides are relegated to the 2022 World Cup playoff

 1 United States 8 6 2 0 0 12 0.412
2 Scotland 8 4 3 0 1 9 0.139
3 Namibia 7 4 3 0 0 8 0.008
4 Oman 6 4 2 0 0 8 -0.139
5 UAE 7 3 3 0 1 7 -0.004
6 Nepal 0 0 0 0 0 0 0
7 PNG 8 0 8 0 0 0 -0.458

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Australia men's Test cricket fixtures 2021/22

One-off Test v Afghanistan:
Nov 27-Dec 1: Blundstone Arena, Hobart

The Ashes v England:
Dec 8-12: 1st Test, Gabba, Brisbane
Dec 16-20: 2nd Test, Adelaide Oval, Adelaide (day/night)
Dec 26-30: 3rd Test, Melbourne Cricket Ground, Melbourne
Jan 5-9, 2022: 4th Test, Sydney Cricket Ground, Sydney
Jan 14-18: 5th Test, Optus Stadium, Perth

The%20specs%20
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Meghan%20podcast
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From Europe to the Middle East, economic success brings wealth - and lifestyle diseases

A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.

One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait,  Qatar and Oman – and second on the list in Bahrain.

In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.

The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.

And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.

 

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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Updated: May 15, 2023, 5:31 AM