Foreign direct investment in Dubai fell by 74 percent in the first half of the year compared with the same period of 2019, as the coronavirus pandemic stalled parts of the global economy.
The Middle East financial and trade center drew in 12 billion dirhams ($3.3 billion) in the six months to June 30, the Dubai government said in a statement.
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The statement did not provide a comparative figure, but the government last year reported 46.6 billion dirhams in first half foreign direct investment.
Confident about future
Dubai was locked down for several weeks as part of government efforts to curb the coronavirus, causing many businesses to temporarily shutter.
The United Arab Emirates has recorded 61,352 cases of the virus and 351 deaths. The Gulf state does not disclose where in the country the infections and deaths have occurred.
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