Dubai's F&B Sector Attracts $577 Million in FDI Over Last Five Years

Foreign direct investment (FDI) in Dubai's food and beverage sector has surged to $577 million over the last half-decade, driven by the emirate's favorable business environment and robust supply chains that have enticed investors from 23 nations.

Speaking during a briefing at the ongoing Gulfood exhibition at the Dubai World Trade Centre, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, highlighted Dubai's strategic positioning as a global F&B hub.

Lootah emphasized the emirate's commitment to innovation and e-commerce advancements as key drivers of growth in the sector.

Data shared by the Dubai International Chamber at the same event underscored the UAE's appeal to foreign investors.

The UAE claimed the lion's share of venture capital investments in the Middle East's restaurant tech sector between 2018 and 2023, exceeding $1 billion, according to research firm Pitchbook.

Furthermore, the UAE ranked second among Middle Eastern nations in terms of venture capital investments in the agri-tech sector during the same period, attracting investments totaling $335.4 million.

This year's Gulfood exhibition is marked by a significant emphasis on digitization, with industry players like the Abu Dhabi-listed Agthia Group and F&B producer IFFCO Group pledging further investments in technology and artificial intelligence as part of their forward-looking strategies.

Source: Bindu Rai / Zawya