DUBAI, APRIL 22, 05 (WAM)--A delegation of the Dubai Development and Investment Authority (DDIA) led by Saeed Al Muntafiq,Director General, participated in the World InvestmentConference of the World Association of Investment Promotion Agencies,held recently in Geneva.

The conference focused on investments in services withspecial sessions on Foreign Direct Investment (FDI) insupport services and the healthcare sector. A specialsession was dedicated to the topic of attracting FDIin service clusters.

The World Association of Investment Promotion Agencies(WAIPA) is a global organization focusing on FDI withthe objective to increase knowledge sharing andprofessionalism among Investment Promotion Agencies(IPA) and other stakeholders in FDI and therebysupport the growth of FDI and its contribution tosustainable economic development.

"The outcome of the Investment Conference sessionsclearly confirmed that Dubai is implementing theappropriate strategies to increase its domestic andforeign direct investments. Namely, initiatives likeDubai Marina, The Palm Islands, The world, DubaiHealthcare City, Dubai Industrial City and DubaiOutsource Zone which all are part of Dubai Holding,have significant potential to contribute to theattraction of FDI. DDIA will continue to develop newinitiatives and concept in the respective areas tocreate additional service clusters," said Saeed AlMuntafiq, Director General, DDIA.

During the Annual Assembly of WAIPA a new businessplan was adopted for the organization. DDIA hassignificantly contributed to the development of thisbusiness plan as a WAIPA Steering Committee member.

The business plan describes the revised vision,mission and strategic objectives of WAIPA and lays outa tactical implementation plan for the newinitiatives. These initiatives include the expansionand diversification of the WAIPA membership and thecreation of a distinct brand profile of theorganization. Due to its contribution to thedevelopment plan, the Dubai Development and InvestmentAuthority were selected as one of four core members ofthe Steering Committee. Therefore, DDIA is assuming aleading role in the implementation of the businessplan and its respective initiatives.

"The contribution of DDIA to the development of thebusiness plan and the selection of it into the coreimplementation team of WAIPA's business plan is animportant step in assuming a leadership role in theinternational field of FDI," Saeed Al Muntafiq added.

The joint efforts of the Investment Promotion Agenciesin WAIPA will primarily facilitate the global exchangeof knowledge in attraction of FDI and theestablishment of a common global platform for FDIinformation. Furthermore, by implementing specificstrategic initiatives, the WAIPA business plan aims toalign different initiatives in the area of FDI byother international organizations like the World Bankand OECD.

Saeed Al Muntafiq, DDIA Director General, added "DDIAaims to continue to play a leading role in thisimportant project in order to be at the forefront ofthe FDI knowledge development and ensure that Dubaicontinues to grow its FDI and attraction ofmultinational companies to its cluster initiatives."