Dubai leaves London, Paris, Singapore… behind

By Eudore R.Chand

DUBAI 17 December 2018: Dubai has surpassed the like sof London and Singapore in attracting Foreign Direct Investment (FDI) in 2018.

“Dubai ranks 1st globally in fDiMagazine‘s Top fDi Performers of 2018,” said a tweet from the Dubai Government Media Office (DGMO).

“[Dubai was] followed by London, Paris, Dublin and Singapore,” it added.

3rd Globally

In another ranking, the UAE has been ranked 3rd globally in the construction of 200-meter-plus tall buildings, with 10 completions in 2018.

The UAE surpassed Malaysia, Indonesia, Thailand and South Korea, according to latest report by Council on Tall Buildings & Urban Habitat (CTBUH).

e-Commerce Surge

The value of e-commerce in the country is expected to reach Dh100 billion by 2020, which is double the figure for 2016, according to recent reports by the World Economic Forum.

The UAE will also account for 40 per cent of total e-commerce in the Middle East by 2020, and its e-commerce sector will be supported by its decision to join the Trade Facilitation Agreement in 2017, said Wam.

The agreement is one of the key achievements of the World Trade Organisation, WTO, which aims to improve international customs clearance and release, reduce transaction costs, and increase transparency in international trade procedures.

Dubai Gazette