Hong Kong, Jan. 16th, 2006 (WAM) - Saeed Al Muntafiq, Dubai Developmentand Investment Authority (DDIA) Director General inaugurated the firstDDIA international office in the Asian pacific region in Hong Kong whichcomes in line with the efforts of UAE and Dubai to open up new investmentopportunities based on strategic plans targeting millions of investorscapable of contributing to the economic and investment movement in theUAE.

Al Muntafiq said, "The opening of this office comes within DDIA's strategicvision to develop its operations in markets which influence UAE's positionas an international business hub that attracts large international companiesto set up their headquarters in the UAE to service their markets acrossa wide geographic region extending from East Asia to West Africa".

Al Muntafiq confirmed that through the new DDIA office Dubai will workon strengthening its share in Hong Kong's international investments whichexceed $350 Billion.

He added, "We have been working on a number of researches and studiesfocused on expanding DDIA's activities regionally and internationallysupporting the position of the country as an attractive business and investmentcentre. The establishment of the DDIA office in Hong Kong is the firststep which will be followed by several other initiatives by the Authority.

The Hong Kong office will offer various services that introduce investmentopportunities in Dubai and the UAE and build network and relationshipswith investors, local government bodies, and companies looking to workin the Dubai market".

Al Muntafiq said that choosing the Asian and Pacific region as DDIA'sregional headquarter reflects the importance of the region's investmentposition as compared to other active markets, and the presence of a groupof established companies and investors, with whom the Authority is keenon developing its relationship and forming long term strategic alliances.

Al Muntafiq also announced the appointment of Arif Mubarak as the Directorof the DDIA Asian Pacific office in Hong Kong, which would act as a communicationpoint between investors in Dubai and Asia, and as a centre to attractinvestments to the UAE.

Al Muntafiq clarified that Arif Mubarak's appointment as the Directorof the regional office reflects faith in his abilities to efficientlymanage the team so as to serve the Authority's objectives and contributetowards strengthening its role internationally and facilitating the flowof FDI.

Arif Mubarak said that the office will work as a gateway to open new horizonsand offer investment opportunities while at the same time fostering relationshipwith Asian investors. The office would also contribute in creating anactive communication network with the business community in Asia and UAE.

Mubarak added, "The office will work on building relationships with financialenterprises and business men to encourage greater investments in Dubaiand the UAE on one side, and the Asian continent on the other. The officewill play an active role in strengthening friendly relationships withgovernments bodies and commercial enterprises in the Asian countries inorder to create investment opportunities which have high standards oftransparency and low risk, it will offer investment opportunities in Dubaiand the UAE, and introduce the investors to important projects througha wide database which would help the Asian investors interested in investingin Dubai and the UAE to take the right decisions".

He further said, "The office will focus on attracting FDI from the Asianpacific region, promoting leading projects launched by local market, inaddition to extending DDIA's one stop shop services for setup and registrationto Asian pacific investors."DDIA's Director General confirmed the Authority's commitment to garnergreater efforts towards contributing effectively in the country's developmentthrough supporting local investments, and ensuring increased foreign investmentsin Dubai and the UAE.

DDIA Asian pacific regional office will act as a unique investment propositionoffering diverse services to Asian investors without the need to fly toDubai to look for investment opportunities. The office will also actas a gateway to build relationships, create opportunities, and attractinvestors, as Dubai opens its doors to all investors in a rapidly developingcontinent.