Dubai: The digital transformation of international production, coupled with Dubai’s ongoing transformation into a knowledge-based economy, have reshaped both the source and the composition of the flows of foreign direct investment (FDI) into the emirate.

According to Dubai’s Department of Economic Development (DED), the last three years have witnessed investors from the European Union (EU) and the United States outstripping all others in both the number of projects they have initiated — 355 and 213 projects, respectively — and in the capital investments they have reached, at $5.738 and $3.99 billion, respectively. During the period from 2015 till the first quarter of 2018, investors from the EU and the US launched 66 per cent of the total number of projects in Dubai, they also contributed to 45 per cent in the total FDI flows into Dubai and created 28,241 new jobs.