Investors globally will now be able to start their business in Dubai without having to be in the UAE, following an agreement between Dubai Investment Development Agency (Dubai FDI) and the US-based Alliance Business Centres Network (ABCN).
The partnership will enable investors overseas to use a network of 650 business centres spread across 85 cities in 45 countries to start a business in Dubai.
Dubai FDI said in a statement that the initiative is part of its efforts to attract sustainable foreign investment in line with the goals of the Dubai Plan 2021.
Through the agreement, Dubai FDI said it seeks to attract international companies to Dubai and enable them grow and expand their business by leveraging a full range of professional services provided by ABCN.
Known to be the largest global network of serviced offices, Alliance Business Centres is also one of the leading providers of investor and corporate services for more than 50,000 clients and manages 15 million sq ft of serviced offices worldwide.
ABCN operates its businesses in the Middle East, Africa and Russia through its regional headquarters in Dubai.
Fahad Al Gergawi, CEO of Dubai FDI, said: “This initiative is in line with Dubai’s objectives to reach out to international investors and companies, remove hurdles for those looking to benefit from investment opportunities and economic development in Dubai, and sustain economic growth.”
Al Gergawi added: “The agreement with Alliance Business Centres provides a new channel to attract foreign investments towards achieving economic growth and sustainability in Dubai and the UAE in general.”
The business centres network will particularly cover GCC countries such as Saudi Arabia, Bahrain and Kuwait, Al Gergawi said.
Sherif Kamel, regional president, ABCN in RMEA, said: “The new strategic partnership will further stimulate economic activity, attracting new investors to capitalise on the opportunities in Dubai, which is emerging as a preferred global investment destination."For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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