03 April, 2016

Sustainable financial industry key to promoting Dubai as services hub, says Dubai FDI CEO

"In Dubai, we believe that collaboration and

Sustainable financial industry key to promoting Dubai as services hub, says Dubai FDI CEO
03 April 2016
Dubai - Fahad Al Gergawi, CEO of Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai stated that public-private partnership and the role of both sectors in pursuing new opportunities and innovations are the chief enablers of Dubai's success as an export and financial services hub.

"In Dubai, we believe that collaboration and innovation are the lifeline to sustainable growth," Al Gergawi said while delivering his opening keynote at the 'Global Trade Credit and Risk Management Conference' in Dubai recently, adding that ensuring a sustainable financial industry is key to any long term economic plan.

Organized by Al Wadi Holding, the exclusive GCC shareholders of TCM Group International, a global alliance of local debt management agencies and specialized law firms, the conference brought together 150 top-notch financial professionals from various countries, In a gesture that said to hold new trends to the credit market in the region, and that was emphasized clearly by the theme of the conference "Redefining Credit Risk Story".

The event was aimed to provide traders and banks with more insights into international credit and debt management standards and experiences in order to minimize debt and credit risks.

Emphasizing the need for improved awareness on credit and risk management in the UAE, particularly in the current regional and global economic backdrop, Al Gergawi said the country is creating new opportunities for trade and financial services worldwide.

"Sharing your invaluable experience and knowhow with business leaders in our region will have a positive impact on reducing risks and creating more opportunities for growth in international and local trade and investments."

Al Gergawi also mentioned the progress of Dubai Plan 2021 and its goal of creating a "Smart and Sustainable City" and said international best practices in credit and risk management are crucial for any city or country to maintain sustainable growth and competitiveness.

Al Gergawi added that having cemented its position as a regional and global financial hub, Dubai will continue to welcome people from all over the world and provide an excellent environment for businesses to grow and expand.

Ayman Al Wadi, Group Executive Chairman of Al Wadi Holding thanked Dubai FDI for its support to the Conference and added: "Dubai FDI demonstrates vital commitment to develop the vision of a sustainable Dubai economy by being a valuable strategic partner to this Conference. I thank Fahad Al Gergawi for setting the tone of the conference, and reiterating Dubai's support to global best practices in front of international and local delegates."

-Ends-

About Dubai FDI:
The Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), works to promote investment opportunities in Dubai and support international investors to establish a presence here whilst taking advantage of Dubai's strategic location to access the MENASA region.

Dubai FDI assists in the identification of sector specific opportunities, provide connections to a network of both government and non-government partners, and provide support throughout the investment lifecycle from setup to growth.

For further information, please contact:
Faisal Shamsudheen                                                                                                             
Government Communication Division,
Department of Economic Development                                
Tel: (971 4) 445 5927
Email: faisal.pathiasseri@dubaided.gov.ae

© Press Release 2016

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