Dubai: The Dubai Investment Development Agency (Dubai FDI) at the Department of Economy and Tourism (DET) gained international recognition for its successful efforts in capturing FDI trends and patterns toward positioning the city as a global investment destination.
The ‘Dubai FDI Monitor’ open data initiative was recently recognised as a best practice among investment promotion agencies (IPAs) for monitoring and evaluation by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).
The first city-level FDI monitoring and reporting system in the world, Dubai FDI Monitor tracks and records five different types of FDI in real-time, including greenfield FDI and new forms of investments using advanced methodology and smart features.
For Dubai FDI, the recognition comes within months of announcing its annual results and rankings, where Dubai achieved the top spot in the world in attracting FDI in 2021, surpassing London and Singapore for the first time.
“Dubai’s remarkable FDI performance and global recognition are a testament to its efficiency, resilience, stability and sustainability. This esteemed recognition for the UNESCAP consolidates Dubai’s ambitious journey towards nurturing close cooperation with global investors and partnerships with FDI source countries,” said Fahad Al Gergawi, CEO of Dubai FDI.
Dubai FDI is the first IPA in the world to publish real-time FDI data using innovative and cost-effective techniques to promote Dubai.