E-News Letter.docx - Impact of Dubai\u2019s attraction of Foreign Direct Investment FDI Dubai focusing on attracting Foreign Direct Investment and become a

E-News Letter.docx - Impact of Dubaiu2019s attraction of...

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Impact of Dubai’s attraction of Foreign Direct Investment FDI Dubai focusing on attracting Foreign Direct Investment and become a leading country in technology to improve lives and save costs. Dubai won its bid to host the World Expo 2020. Dubai has attracted $21.66 billion (Dh80 billion) worth of foreign direct investment in high-end technology transfers in three years, mainly from the European Union and the US. While lots of companies would establish business as expected in the multinational city, lots of data would be generated that is being used to improve the lives of those living in Dubai. There is lots of data already, data on spending, on new residents, on potential investors, on the utilities needed to offer a flexible and fast-pace type of life. The explosion of smartphone ownership in the UAE in the past 10 years, coupled with the country’s high internet penetration and government bodies’ readiness to embrace technology, has transformed nearly every aspect of life in the
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