Digital transformation boosts foreign investment in Dubai

Dubai’s efforts to undergo a digital transformation have stimulated foreign direct investment, according to a report from the Department of Economic Development (DED). Since 2015, investors from the European Union and the US have initiated 355 and 213 projects, jointly accounting for 45% total foreign direct investment into Dubai and the creation of 28,241 new jobs, said the report. The department said Dubai’s efforts to develop a knowledge-based economy have been the principal reason for the increase in investment. Separately, Saudi Arabia’s Ministry for Communications Information and Technology (MCIT) has teamed up with consulting firm KPMG to develop a centre for artificial intelligence and advanced analytics. The Insights Centre will aim to help companies deliver digital transformation services in the kingdom and provide jobs and training opportunities in data analytics and AI. According to Abdullah Al-Fozan, chairman of KPMG Saudi Arabia, digital initiatives are essential components of Saudi Arabia’s Kingdom Vision 2030 economic development plan. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...


ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.