Foreign investment in Dubai plummets in first half 2020

Foreign direct investment in Dubai fell by 74% in the first half of the year compared to the same period of 2019, as the coronavirus pandemic stalled parts of the global economy.

The Middle East financial and trade hub drew in 12 billion dirhams ($3.3 billion) in the six months to June 30, according to a government of Dubai statement released on Monday.

The statement did not provide a comparative figure, but the government last year reported 46.6 billion dirhams in first half foreign direct investment.