His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said that the victory of Dubai, headed by the World Association of Investment Promotion Agencies (WIPA), a new international certificate of confidence in the influential role of the UAE on the world economic map.
His Highness considered, in tweets on his official account on the blogging site «Twitter», the achievement is the fruit of the approach of openness and cooperation towards creating a global economic climate that serves the aspirations of peoples.
His Highness said: `` Our ties with the global investment community are getting stronger day by day, thanks to the vision of our wise leadership, which has put the economic interests of our partners among the top priorities, and harnessed the elements of support and safeguard them further growth in the process of success as we move together towards the future. ''
His Highness wished the CEO of the Dubai Investment Development Corporation Fahd Al Gergawi his mission as President of the Association until 2021.He hoped that through this website, he would continue to enhance the contribution of Dubai and the UAE in encouraging investment flows to establish further growth opportunities.
The Emirate of Dubai won the chairmanship of the World Association of Investment Promotion Agencies (WIPA), represented by the Dubai Investment Development Corporation, one of Dubai's economic institutions, in the elections of the Executive Committee of the Assembly for the period from 2019 to 2021, after gaining the trust of members of the General Assembly of representatives of 49 countries and cities, participated In the first direct vote for the presidency, a secret ballot was held for the selection of the two Vice-Presidents and the regional representatives of the Executive Committee.
This came within the framework of the meetings of the General Assembly, which took place on Monday evening in the Polish capital of Warsaw, which hosts the annual meetings, and the World Investment Conference 24, organized by «WEPA» annually from the seventh to October 10.
Over the past years, DIFC's efforts to support joint action, build capacity and strengthen partnership in the development, promotion and facilitation of FDI culminated in winning the position of Regional Director of WEPA for the MENA region from 2013 to 2016. Vice President for the period 2017 to 2018, again winning the confidence of the members of the General Assembly, and an unprecedented consensus, becoming the first investment promotion body to win the presidency at the city level for the period from 2019 to 2021.
Fahad Al Gergawi, Executive Director of the Dubai Investment Development Corporation, expressed his pride in the confidence of the members of the General Assembly of WIPA and his delight in the victory of Dubai as the Chairman of the World Association of Investment Promotion Agencies, which came as a result of continuous efforts over the past years in supporting joint work and partnership with investment promotion agencies. Member States and cities within the framework of the UAE approach, and the strategy of the Emirate of Dubai to work closely with the most important partners of international organizations, and close cooperation in advancing the global economic development.
Al-Gergawi said that Dubai's leadership among the three most important cities attracting foreign direct investment, reinforces its positive role in promoting the stability and growth of the global economy, while FDI inflows continue to grow in Dubai, recording an exceptional growth during the first half of 2019, with The capital of the investment projects announced during that period amounted to 46.6 billion dirhams, a growth of 135%, compared with the same period last year, according to data «Dubai Investments» of the Dubai Investment Development Corporation.
Fahad Al Gergawi, in his speech before the General Assembly (WIPA), reviewed the vision and programs of the Dubai Investment Development Corporation, stressing that the UAE continues to consolidate its position and reputation as a preferred destination for investment, and that Dubai continues to gain more confidence of the global investment community thanks to its leadership that promotes the values of cooperation and partnership Tolerance, putting the future and human happiness at the forefront of its priorities.
In his speech, he stressed the importance of the role of investment promotion agencies and their positive impact in communities, cities and countries, where the Qudorat 2030 initiative launched by Hamdan Center for Investment Future in partnership with WIPA to work to develop and build professional, institutional and market capabilities to attract investment affecting development. -Wide tribute from the members of the General Assembly.
In his speech, Al Gergawi expressed his pride in the confidence of the members of the General Assembly in the efforts of the UAE and Dubai in promoting sustainable economic development and facilitating investment operations globally.He pointed out that projects geared towards the Sustainable Development Goals around the world, valued at $ 15 trillion by 2030.
Crown Prince of Dubai:
• “Enhancing the contribution of Dubai and the UAE in encouraging investment flows, to create further growth opportunities”.
AIPA is a global organization
The World Association of Investment Promotion Agencies (WIPA) is one of the world's most important international investment stakeholders. It was founded in 1995 in Geneva, Switzerland, as a global non-profit organization by the United Nations Conference on Trade and Development (UNCTAD), to promote the role of investment promotion bodies in economic development and attract foreign direct investment.
The association has more than 160 investment promotion bodies from 130 countries, while the WIPA Advisory Board includes a number of UN organizations, including the International Labor Organization (ILO), the Industrial Development Organization (UNIDO), the World Bank and the Chamber of Commerce. International Organization for Economic Cooperation and Development (OECD).