Foreign direct investment in Dubai declined 53% in 2020.
Dubai: Official data showed, on Monday, that foreign direct investment in the emirate of Dubai decreased by 53 percent in 2020, on an annual basis, to 24.7 billion dirhams ($ 6.7 billion), under the pressures of the Corona pandemic.
This came in a report by the Dubai Investment Development Corporation, reported by the official Emirates News Agency.
Foreign direct investment in the emirate in 2019 amounted to about 46.6 billion dirhams (about 12.6 billion dollars).
The report stated that Dubai attracted 455 projects in 2020, an increase of 4,000 projects over the average of the last five years.
According to the report, last year, foreign-funded projects provided 18,325 jobs.
Despite this decline, the report said that Dubai ranked first in the Middle East and North Africa region and third in the world in terms of attracting foreign direct investments.
According to the report, the United States ranked first in foreign direct investment flows to Dubai last year, with a share of 22 percent of foreign direct investment projects.
The United States was followed by Britain, France, India and the Netherlands with a share of 14 percent, 6 percent, 6 percent and 4 percent, respectively.
