Dubai – Mubasher: The US foreign direct investment (FDI) inflows to Dubai reached up to $3.9 billion in the full-year 2018, making it the emirate’s top foreign investor.

The total trade volume between the US and the UAE recorded $21.8 billion during the 12-month period ended last December, according to statistics from the Dubai Investment Agency (Dubai FDI).

“We are convinced that Los Angeles and Denver hold exciting prospects for mutually beneficial and sustainable partnerships between Dubai and the US,” Arabian Business reported, citing Fahad Al Gergawi, Dubai FDI CEO, as saying on the sidelines of a visit to the US.

American exports to the UAE reached $17.2 billion last year, while US imports from the UAE valued at $4.6 billion.

The previous year saw the launch of around 121 projects focused on accommodation and food services, retail and wholesale trade, administration and support services and software publishing.

“Los Angeles is already a major exporter of varied agricultural produce, transportation equipment, computers and electrical products as well as services in the software, legal and academic domains to the UAE,” Dubai FDI CEO added.

During his visit to the US,  Al Gergawi noted that Dubai FDI will work to parade opportunities in the emirate to foreign investors, its business-friendly environment, and the benefits of using the emirate as a regional or sub-regional business hub.