icon fb blueicon linkedin blueicon call blueicon youtube blue

Dubai’s creative economy ranks top in FDI draw

David Lang
Founder & CEO, Viettonkin; FDI and Fortune 500 Consultant
Trường (David) Lăng, Founder & CEO of Viettonkin, is a distinguished FDI advisor and Fortune 500 consultant, spearheading thousands of successful investment projects to connect ASEAN economies with the world.
Trường (David) Lăng, Founder & CEO of Viettonkin, is a distinguished FDI advisor and Fortune 500 consultant, spearheading thousands of successful investment projects to connect ASEAN economies with the world.
pexels darshak pandya

Dubai’s thriving creative economy drew Dh4.9 billion foreign direct investment in 2021 to rank first in the region and fourth globally in terms of creating jobs from FDI in the sector.

Dubai attracted 233 new projects in the creative economy in 2021. Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in the previous year, according to the Dubai FDI Monitor report, published by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET).

The rise in FDI inflow and rankings reflect the enhanced attractiveness of the emirate’s creative economy. In terms of the number of new jobs in the creative economy, Dubai held on to its top rank regionally and fourth globally with 6,204 new jobs created from FDI, according to the report that was based on data from the ‘FDI Markets.’

pexels darshak pandya

Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority (Dubai Culture) and member of the Dubai Council, said the emirate consolidated its status as a global cultural hub and investment destination, ranking first in the Mena region and second in the world in attracting foreign direct investment (FDI) in the cultural and creative industries (CCI) in 2021.

“These results reflect the maturity and stability of the investment environment in the emirate’s creative economy. Dubai has created outstanding FDI opportunities in the sector by building a robust ecosystem and an advanced business-enabling infrastructure for creative entrepreneurs,” Sheikha Latifa said.

“By fostering an environment that promotes learning, development, and innovation, Dubai has developed a vibrant global creative community. Its unique social fabric that has evolved out of the emirate’s remarkable cultural diversity and its comprehensive human-centred development process has further supported the growth of Dubai’s creative economy,” she said.

Sheikha Latifa said Dubai has witnessed a remarkable rise in FDI capital flows in the creative economy during the past five years. In the 2017-21 five-year period, the emirate’s creative economy witnessed FDI capital inflows of Dh50.9 billion across 787 projects. “This increase follows the directives and initiatives of Dubai’s wise leadership to make the emirate a destination for creativity and talent through innovative infrastructure, laws and legislation. The results are now a tangible and sustainable reality in the development journey, as envisioned by the leadership.”

According to the Dubai FDI Monitor report, these projects created 32,542 new jobs during the five-year period. Dubai ranks fifth globally in terms of projects, eighth in terms of FDI capital flows into the creative economy, and fourth in terms of jobs created during the past five years.

“Dubai’s success in continuously enhancing the well-being of its citizens, residents, and visitors and elevating the quality of services provided to them has raised the global creative community’s confidence in the emirate and made it a preferred global business, lifestyle, and entertainment destination,” said Sheikha Latifa.

Hala Badri, director general of Dubai Culture, said the Authority continues to reinforce the foundations to open new horizons for the various components of the emirate’s creative economy and cement its position on the global scene as an ideal investment destination.

Helal Saeed Almarri, director general of the Department of Economy and Tourism in Dubai, stressed that Dubai’s regional and global pre-eminence in FDI attraction stems from the vision and guidance of the leadership to build a diversified economy based on knowledge and innovation. Fahad Al Gergawi, chief executive officer of Dubai FDI, stressed that Dubai’s cultural and creative industries sector has increased its attractiveness to all forms of FDI, including greenfield FDI projects, FDI Reinvestment projects, Mergers and Acquisitions, Joint-Ventures, and New Forms of Investments, in addition to Venture Capital Backed FDI.

According to ‘Dubai FDI Monitor’ data, Greenfield FDI accounted for 71 per cent of the total FDI projects in Dubai’s cultural and creative industries in 2021, followed by Mergers & Acquisitions projects (12per cent of the total), Reinvestment FDI projects (9.0 per cent), New Forms of Investments (5.0 per cent) and Joint Venture (2. per cent).

Source: Khaleej Times

Found This Insight Valuable?
Need expert guidance on ASEAN market entry?
Schedule a Consultation
About the Author
David Lang
Founder & CEO, Viettonkin; FDI and Fortune 500 Consultant
Trường (David) Lăng, as Founder and CEO of Viettonkin, dedicates his extensive expertise to fostering robust trade and investment bridges between Southeast Asia and global partners. With over 17 years of experience, he has successfully guided over 3,000 FDI projects and advised Fortune Global 500 corporations on complex market entry and expansion strategies. His impactful work includes providing technical assistance to governments, developing innovative initiatives like Viettonkin's 'FDI Desks,' and maintaining strategic relationships with central authorities and NGOs. David's thought leadership in economic development and policy advocacy empowers businesses worldwide to confidently navigate and thrive in emerging markets.

Related Insights

Current Situation Of Logistics Disruption

The Situation of Logistics Disruption  China's Zero Covid policy affects the global supply chain Vietnam's export volume to China is substantial The first reason is that China accounts for about 12% of world imports. When products enter there, there is a difficulty with customs clearance, generating congestion, which would damage import and export firms' account […]
Read Article →

Best locations to set up a business in Vietnam

Whether you are eyeing Vietnam as your next FDI destination or in the process of market research, choosing a location to set up business in Vietnam is no simple task in this vast country. Luckily for investors having Vietnam on their list of business locations, there are various industrial zones in key economic regions designated […]
Read Article →

FDI Performance of Vietnam: Insights from May 2023

FDI continues to play a pivotal role in driving Vietnam's economic growth in 2023, reaffirming its significance as a key pillar of development. While the first quarter witnessed sluggish growth in FDI capital, the month of May brought promising improvements. As the global economy grapples with downturns and geopolitical tensions, the Vietnamese government remains committed […]
Read Article →

Must-know things about a joint venture company in Vietnam to take into account

Joint venture company in Vietnamis one of type of business that foreign entities go for to seek entry into Vietnam market. Let's find out what is a joint venture? Requirements for a joint venture as well as pros and cons of this investment form. What is a joint venture? Joint venture is a cooperation of […]
Read Article →
Unlock Vietnam's Market: Download Our Comprehensive FDI eBook Now!

Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.


Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!

Download EBOOK
Unlock Vietnam's Market: Download Our Comprehensive FDI eBook Now!

Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.


Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!

Download E-Book

About Us

Founded in 2009, Viettonkin Consulting is a multi-disciplinary group of consulting firms headquartered in Hanoi, Vietnam with offices in Ho Chi Minh City, Jakarta, Bangkok, Singapore, and Hong Kong and a strong presence through strategic alliances throughout Southeast Asia. Our firm’s guiding mission is aimed towards facilitating intra-ASEAN investments and connecting investors in Southeast Asia with the rest of the world, thus promoting international business relationships and strengthening inter-nation connections.
Contact
Email: 
info@viettonkin.com.vn
Phone Number: 
+84 977093166
Support
FAQ
Subscribe to our insights to look at the critical issue that your business is facing and stay ahead of the competition in a rapidly changing world.
Subscription Form
img linkedin
Viettonkin Consulting Logo © 2025 - Viettonkin JSC

Anything we can help with?

arrow-up