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Thu 26 Sep 2019 02:04 PM

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Sheikh Hamdan hails Dubai FDI growth ahead of DIW 2019 launch

Dubai Crown Prince issues directives to hold the fifth edition of Dubai Investment Week from September 29 to October 3

Sheikh Hamdan hails Dubai FDI growth ahead of DIW 2019 launch
Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced that foreign direct investment (FDI) flows into Dubai in 2019 have "continued to grow remarkably".

He said the growth has made the emirate one of the top three global FDI locations, reflecting the confidence of the local and global investor community in Dubai's strategic plans and vision for the future.

Sheikh Hamdan's comments came as he issued directives to hold the fifth edition of Dubai Investment Week (DIW 2019) from September 29 to October 3 under the theme Investing in the City of the Future.

He said the week-long programme of events will showcase how Dubai has transformed the challenges of future cities into opportunities for growth, partnership and innovation to cope with the needs of the present and lead the world as the smart and sustainable city of the future.

“The Dubai leadership’s push in adopting the Fourth Industrial Revolution (4IR) technologies and creating regulatory frameworks for new business models have further developed Dubai’s investment environment and opportunities as well as its human capital, and hard and digital infrastructure advantages,” he said.

“Today, Dubai is a preferred global FDI destination in the fields of artificial intelligence and robotics,” he added.

Dubai Investment Week is organised by Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy.

Dubai's Crown Prince also called for deeper cooperation between government entities and investors to further enhance the productivity, competitiveness, and return on investment in the emirate and enhance the contribution of FDI projects to the sustainable economic development of the UAE and Dubai.

Sami Al Qamzi, director general of Dubai Economy said: “A series of legislation and new initiatives by our wise leadership to boost investments, have enhanced Dubai’s attractiveness for capital, technology, and talent.”

“Dubai’s success in attracting remarkable FDI flows will further enhance the emirate's position as a pivotal hub in the global economy,” he added.

Fahad Al Gergawi, CEO of Dubai FDI, said: “We aim to develop new investment opportunities in strategic and emerging economic sectors and transform the challenges facing future cities to new investment opportunities to enhance the success and expansion of global companies and startups in Dubai and beyond.”

Last month, he said Dubai expects FDI in the emirate to exceed 2018’s figure of AED38.5 billion ($10.48 billion).

The DIW 2019 agenda includes four strategic forums including the Spotlight on Investment Opportunities forum organised in partnership with Dubai Health Authority (DHA), the FDI Readiness Forum, the Impact FDI Forum, and the FDI Policy Forum, to be held in partnership with Mohammed bin Rashid School of Government.

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