Dubai has been ranked top in the Middle East Cities of the Future, as ranked by fDi (Foreign Direct Investment) magazine, Duabi scored the highest points for economic potential, business friendliness, infrastructure and quality of life.
Dubai is the top city in fDi’s latest Middle East ranking and Jebel Ali is the top free zone. Charles Piggott reports on the leaders.
Dubai scored 471, the highest amongst 20 cities in the region including Jeddah, Abu Dhabi, Manama, Riyadh and Ras Al Khaimah in the next five places.
fDI is Produced by the renowned Financial Times group, fDi is the premier publication for the business of globalisation, and is published on a bi-monthly basis with an ABC-certified circulation of just over 15,000. Our experienced journalists and foreign correspondents provide on-the-ground reporting of the issues and developments that corporate executives must consider when making investment decisions. Over the summer of 2007, fDi will undergo a facelift – this is designed to ease navigation as well providing more succinct sections to create more space for informative features and articles. The website will follow suit in early 2008.
The Middle East Cities of the Future were ranked according to 76 criteria listed under economic potential, business friendliness, tax and other costs, human resources, quality of life, infrastructure and foreign direct investment. Dubai ranked the highest in four of these categories.
Khaleej Time reports that Sami Al Qamzi, Director-General of the Dubai Department of Economic Development (DED), said, “The top score of Dubai in the Middle East Cities of the Future ranking is a testimony to the concerted approach of the DED, under the guidance and leadership of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to create a high-growth environment and boost the economy by implementing strategies to attract foreign investments to the emirate. The result for Dubai is based on an evaluation of 76 parameters that, in essence, cover the entire aspects of the economy
Its ruler is steering Dubai towards a radically different financial model that Europe and the US might do well to learn from. Stephen Timewell of fDI reports.