| 02 October, 2017

Dubai reaffirms investor friendliness

City attracted Dh25.5 billion worth of foreign direct investment in 2016

The Dubai Investment Week, a five-day conference to be held in the third week of October, seeks to reaffirm the emirate's position as a preferred international investment destination, said Fahad Al Gergawi, CEO of Dubai FDI.

Dubai, which stood third globally in new investment initiatives, attracted 247 new investment projects as well as Dh25.5 billion in foreign direct investment in 2016, he pointed out.

Speaking to Khaleej Times, Al Gergawi said the Dubai Investment Week aims to provide the global investor community with a comprehensive view of the growth opportunities, partnerships, innovation and the future of investment in all vital sectors that support the objectives of the UAE National Agenda 2021 and the Dubai 2021 Plan.

In 2016, on the back of its efficient infrastructure in various economic sectors, Dubai succeeded in maintaining its position among the top 10 global cities in attracting foreign investment, ranking seventh worldwide, said Al Gergawi.

Over 1,000 delegates from around the world are expected to attend the Investment Week, which builds on the success of the one-day 'Dubai Investment Forum' organised by Dubai FDI over the last two years.

"The Dubai Investment Forum attracted 450 participants in its first year and over 600 in its second year in 2016. The feedback we received from the participants convinced us that we need a wider format, to focus on each of the critical aspects of investment attraction, including investor awareness, opportunities, promising sectors, policy reforms and public-private partnerships," Al Gergawi said.

"Investment happens in the longer term and our goal is to provide a platform for productive outcomes rather than creating a transactional forum. The Dubai Investment Week will bring together public and private sector leaders, policy-makers, market watchers, innovators and investment enablers to exchange ideas on strategic approaches towards bringing in foreign capital. The goal is to establish a sustainable pipeline of investments into Dubai," said Al Gergawi.

He said investment is a major driver of the bilateral engagement between the UAE and the fastest growing economies in the world today. The US, UK and India are among the top FDI source markets for Dubai and China has emerged as the topmost trade partner of the UAE.

"The Dubai Investment Week will draw on the existing as well as emerging pattern of bilateral engagement. In fact, the penultimate day of the Week is dedicated for a Dubai-China Investment Forum to allow the sides take a close look at leveraging Dubai as a hub and gateway for regional and global expansion," Al Gergawi said.


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