Dubai to Aid Chinese Firms’ Global Expansion as FDI Soars

29 Aug, 2024

Dubai to Aid Chinese Firms’ Global Expansion as FDI Soars

Dubai is enhancing its role as a gateway for Chinese businesses aiming to enter international markets, following a substantial increase in foreign direct investment (FDI) from China. As reported by Dubai Chambers, cumulative FDI from China to Dubai reached Dh19.85 billion ($5.4 billion) from 2015 to 2023. This aligns with Dubai's broader strategy to attract and support Chinese companies seeking regional and global expansion.

In the first half of 2024, the number of Chinese firms operating in Dubai grew by 6%, reaching approximately 5,400. This rise reflects the emirate's commitment to providing a robust investment environment, highlighted during the Dubai Business Forum – China held in Beijing. The event showcased opportunities under Dubai's D33 economic agenda, which aims to double the emirate's economy to Dh32 trillion over the next decade.

Dubai Chambers has signed a preliminary agreement with the China Council for the Promotion of International Trade Beijing to foster closer business collaboration and support for Chinese investments. This agreement includes organizing trade events and hosting delegations to strengthen ties between Dubai and China.

Furthermore, Dubai is focusing on sectors such as trade, logistics, artificial intelligence, renewable energy, health care, and e-commerce to attract Chinese investments. The growing non-oil trade between Dubai and China, which surged to $67.8 billion in 2023, underlines the deepening economic relationship between the two nations. Dubai’s efforts to increase air connectivity and facilitate investment opportunities are expected to further solidify its position as a global economic hub.