Dubai, UAE: The Dubai International Film Festival, the leading festival of its kind in the region, held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, has announced that Investment Corporation of Dubai, the specialised investment management organisation of the Government of Dubai, will be its title sponsor.
ICD supervises the government's investment portfolio adding value through the implementation of world best-practice corporate governance, the recruitment of the best people and the embracing a global investment strategy. Its mandate is to generate a superior return on investment in a way that will benefit the entire Dubai community.
Mr. Mohammed Al Shaibani, Executive Director and CEO, ICD commented: "The title sponsorship support extended by ICD is a mark of the continuing high-level government support for the Festival. We thank His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, for his generous support of the Festival and its mission, and look forward to working with ICD to accelerate our growth and mutual benefit."
DIFF, he added, is both an investment in the film industry of the UAE, the Arab world and near Asia and Africa, and a cultural investment in improving multilateral relationships at home and abroad.
"Over the years, DIFF's contribution has expanded to encompass capacity building in the regional film industry, promoting regional film talent overseas and driving the growth of a Dubai-centered film industry in addition to providing an unmatched cultural experience for UAE residents and visitors. The Festival has also made tangible contributions to the city's vital growth sectors including tourism, hospitality and retail.
Our partnership with DIFF offers a new opportunity to strengthen DIFF as a strategic cultural initiative of Dubai, and drive greater international interest in the city as a holistic hub for business and living."
Mr Khalifa Al Daboos, Director of Investments, Investment Corporation of Dubai, had the following to say: "Investment Corporation of Dubai, or what many of you might know as ICD, was established in 2006 with the objective of nurturing the growth and development of the Emirate. Consolidating a significant portion of The Government of Dubai's commercial assets, ICD's focus has been on developing the industrial, retail, and financial landscape of Dubai".
He continued to mention that today, ICD is proud to be the presenting sponsor of the Dubai International Film Festival. Throughout the years, the Dubai International Film Festival has helped position Dubai as a regional hub of entertainment and creativity. By supporting this initiative, ICD is furthering its role in helping Dubai grow its economy through a focus on new industries.
Mr. Al Daboos concluded with the following words:"Under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we will continue to play a major role in guiding Dubai's growth. We will always support homegrown, globally recognized initiatives and organizations such as the Dubai International Film Festival, that help maintain the prosperity and evolution of the Dubai we have all grown to admire".
Mr Abdulhamid Juma, Chairman of the Dubai International Film Festival, said: "We are honoured by the Investment Corporation of Dubai's recognition of DIFF as a strategic, blue-chip organization with proven, exponential returns across geographies and socio-economic and cultural domains.
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Background on Investment Corporation of Dubai (ICD)
ICD is the investment arm of The Government of Dubai, which owns the Government's portfolio of companies and investments. Established in 2006 pursuant to a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, it is one of the key government entities tasked with ensuring the growth and development of the Emirate. ICD consolidates a significant portion of the government's commercial assets across various sectors and manages strategic investments in companies that demonstrate global excellence and that have defined the industrial, retail and financial landscape of Dubai.
The ICD company portfolio comprises of: Emirates Group • Emirates NBD • Emaar Properties • Dubai Islamic Bank • Dubai Aluminium (DUBAL) • Dubai Airport Freezone (DAFZA) • Dubai Duty Free • Dubai Investments • Dubai Silicon Oasis • ASWAAQ • Cleveland Bridge & Engineering ME (Pvt.) Ltd. • Commercial Bank of Dubai • Deira Waterfront Development Company LLC • Dubai Aerospace Enterprise • Dubai Cable Company (Pvt.) Ltd. (DUCAB) • Dubai World Trade Centre (DWTC) • EMARATECH • Emirates National Oil Co. (ENOC) • National Bonds Corporation • Noor Investment Group • Emirates Rawabi • Galadari Brothers Company • Dubai Golf • National Bank of Fujairah • Union National Bank.
For more information, please contact:
Maha Ghazi Alnakkash
Investment Corporation of Dubai
Corporate Communications
+971 50 7962005
maha.ghazi@icd.gov.ae
© Press Release 2011
