Foreign Direct Investment (FDI) in Dubai increased to Dh42.5 billion in 2006 from Dh37.4 billion in the previous year, an increase of 13.4 per cent, new figures released by the Dubai Statistic Centre (DSC) show, said Dubai-based English language local daily Gulf News on Thursday.
The statistics showed that Britain topped the countries investing in Dubai with Dh15.3 billion, 36 per cent of the total. It was followed by Japan with 21.6 per cent, India 9.7 per cent, the US 6.3 per cent, the Netherlands 3.7 per cent and South Korea three per cent.
The statistics showed that Britain topped the countries investing in Dubai with Dh15.3 billion, 36 per cent of the total. It was followed by Japan with 21.6 per cent, India 9.7 per cent, the US 6.3 per cent, the Netherlands 3.7 per cent and South Korea three per cent.
Arif Obaid Al Muhairi, executive director of the DSC said "Gulf countries accounted for 2.8 per cent of the investment, while other Arab countries accounted for 1.3 per cent. The remaining 15.6 per cent came from other countries".
Al Muhairi noted that the foreign investments were concentrated in the financial sector. Investment reached 35 per cent each in the insurance and construction sectors. Domestic trade had a share of 20 per cent while other sectors got 10 per cent of the FDI.
He added the number of jobs created through FDI reached 70,445 in 2006, an increase of 24.8 per cent compared with 2005.
At the federal level, Dubai had the largest proportion of FDI coming into the country, with a share of 62 per cent. Availability of investment opportunities, infrastructure facilities helped the city to attract the foreign investment.
The survey was carried out by the DSC in collaboration with the Ministry of Economy under a unified project at the federal level.(WAM)
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