Dubai seeks new investments on tour of US cities

Trade mission including Dubai FDI, Dubai Exports on tour of Orlando, Dallas, Denver, and San Francisco
Dubai seeks new investments on tour of US cities
By Staff writer
Sat 26 Mar 2016 11:20 AM

Dubai Investment Development Agency (Dubai FDI) and Dubai Exports are touring four cities in the US as part of a mission aimed to attract North American industries and investment into the emirate.

Dubai FDI, an agency of the Department of Economic Development (DED) and Dubai Exports, the export promotion agency of DED, said the trade mission delegation also has representatives from Dubai South, Tecom, Dubai Silicon Oasis (DSO), and Emirates.

The itinerary includes presentations, meetings and site visits in Orlando, Dallas, Denver, and San Francisco to introduce the focal points of Dubai's economic development strategy and share insights on successful investment projects.

Fahad Al Gergawi, CEO of Dubai FDI, said: "US remains number one among major FDI source markets for Dubai and the scope of our partnership has expanded significantly in recent years.

"Between 2015 and 2016 Dubai FDI has visited eight US cities and the momentum is visible across improved air connectivity and bilateral trade too," said Al Gergawi.

Saad Al Awadi, CEO of Dubai Exports, added that Dubai's manufacturing, logistics and transport infrastructure presents an attractive proposition for US businesses looking to move closer to their overseas clients and target new and emerging markets effectively.

"When in Dubai you are ideally placed to connect markets within the Middle East, North Africa and the Indian Subcontinent faster than anyone else, by land, sea or air. The free zones and industry clusters in the emirate offer the best international practices in competitive export processing and logistics," said Al Awadi.

Danny Sebright, president of the US-UAE Business Council, said bilateral trade between the US and UAE exceeded $25.4 billion in 2015, surpassing all other US trade partners in the broader region, including Turkey and India.

"The UAE continues to lead in global trade and investment throughout the Middle East, Africa, and South Asia, even as the region witnesses increased turbulence. The UAE's business friendly environment, in particular Dubai's state of the art infrastructure, highlights the success of niche sectors with special interest to the US," he said.

Orlando in the state of Florida is the first stop for the Dubai delegation, where exports to the UAE is reported to have supported 17,598 jobs in 2014.

Solar energy will be the focus of discussions in San Francisco, California where the delegation will tour the Solar Technology Acceleration Centre that has the largest test facility for solar technologies in the US.

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