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Tue 10 Sep 2019 04:25 PM

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Dubai FDI on US mission to chase more foreign investment

Department of Economic Development agency-led delegation visits Houston and Denver as FDI inflows from the US rise

Dubai FDI on US mission to chase more foreign investment
The delegation plans to visit Houston in the state of Texas and Denver in Colorado by September 14, as a part of Dubai’s Global Mission Program.

Dubai FDI, the investment development agency of the Department of Economic Development (DED) in Dubai, is currently on an investment mission to the United States.

The delegation plans to visit Houston in the state of Texas and Denver in Colorado by September 14, as a part of Dubai’s Global Mission Program.

The delegates will conduct meetings with both government and private sector organisations, in addition to three seminars to discuss investment opportunities in the emirate and promote Dubai as a preferred global destination for foreign direct investment (FDI).

The delegation includes Fahad Al Gergawi, CEO of Dubai FDI, Saed Alawadi CEO, Dubai Exports, Saeed Al Mheiri, UAE Consul-General in Houston and also senior executives from companies such as DMCC, Jebel Ali Free Zone Authority (JAFZA), Emirates and Jumeirah Hotels & Resorts.

Al Gergawi said: “The mission to the US demonstrates Dubai strong capabilities as an ideal investment hub and gateway for American companies. The contingent from Dubai, which is renowned for its business-friendly environment, will take advantage of the opportunity to strengthen further the investment and trade relations between the UAE and the US.”

The planned global investment promotion mission to the two states follows the steady growth of FDI capital inflows from the US to Dubai.

FDI capital inflows from the United States to the emirate reached AED14 billion in 2018, making it the largest foreign investor, based on latest data from the Dubai FDI Monitor.

It also reported that the total number of US investment projects in Dubai reached to 119 in 2018, reinforcing the US position in the lead in terms of the total number of FDI and FDI capital.

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