Dubai is apparently the place to be for foreign investors. According to the Dubai Investment Development Agency, the emirate was the number one target for international investing last year, attracting 418 foreign direct investment projects.
The value of this capital flow is estimated to be around $7b. Dubai also ranked second in the world in terms of attracting corporate headquarters.
Dubai’s gulf neighbor Bahrain also had some good news recently. According to a recent study from the National Bank of Kuwait, Bahrain’s economy is expected to grow at a rate of 3% this year thanks to higher oil prices and a general economic rebound from the Covid-19 pandemic.
Why it matters
Dubai is reaping the rewards of last year's efforts to attract foreign business, talent, and investment. 2021 was the largest legislative transformation in the history of the UAE, with over 50 laws updated and reformed to make the country even more competitive with the rest of the world.
