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Dubai tops Mideast Cities of the Future list |
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1/22/2009 10:24:13 AM |
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Dubai has been ranked top of a Middle East Cities of the Future league table based on economic potential, business friendliness, infrastructure and quality of life.
Dubai scored 471 points, the highest among 20 cities in the region evaluated by fDi magazine, part of the Financial Times group.
Jeddah, Abu Dhabi, Manama, Riyadh and Ras Al Khaimah took the next five places in the table.
The Middle East Cities of the Future were ranked according to 76 criteria listed under Economic Potential, Business Friendliness, Tax & Other Costs, Human Resources, Quality of Life, Infrastructure and Foreign Direct Investment.
Dubai ranked highest in four of these categories.
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 DED...to create a high-growth environment and boost the economy by implementing strategies to attract foreign investment 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."
DED's foreign investment office headed by Fahad Al Gergawi added: "This top-ranking highlights the opportunities that exist in Dubai for investors when evaluating the potential for international expansion.
"Dubai is very investor-friendly and enjoys a strategic location."
The Economic Potential category, in which Dubai topped the list, evaluated parameters such as 2009 GDP growth forecast, national GDP, economic initiatives, inflation, cash surplus, high-tech exports, industrial production growth and growth of urban population.
"Winning this award and ranking high in many of the categories reflect Dubai's success in diversifying our economy, and the potential for growth that the Emirate offers despite the challenges that the state of the global economy brings at this point in time,' added Qamzi.
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Source: Arabianbusiness.com |
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