Under a memorandum of understanding that includes cooperation and exchange of information with the aim of promoting the emirate as a major destination for the economy
"Dubai Lands" and "Investment Development" lay down a framework for attracting foreign direct investment
The two sides stressed the importance of joint cooperation to enhance the attractiveness of investment in the emirate.
From the source
The Dubai Land Department and the Dubai Investment Development Corporation, one of the Dubai economic institutions, announced joint cooperation in developing a general framework that would enhance the attractiveness of investment in the emirate, especially attracting foreign direct investment, as well as expanding the range of promotions, knowledge exchange and organizing events. Joint, which will directly serve the strategic objectives of the emirate.
This came in a memorandum of understanding signed by the two sides that defines the relevant areas of cooperation between them, and sets up a roadmap for translating them into reality.
Dubai Land stated in a statement yesterday that the Executive Director of the Dubai Investment Development Corporation, Fahad Al Gergawi, and the Executive Director of the Promotion and Management of Real Estate Investment Sector in the «Dubai Land», Majida Ali Rashid, signed the memorandum remotely, in the presence of the Director General of «Dubai Land Department. », Sultan Butti bin Mejren, General Director of Dubai Economy, Sami Al Qamzi.
Areas of cooperation
Areas of cooperation
The memorandum sheds light on the most prominent areas of cooperation between the two sides, which include: joint cooperation and exchange of information in the fields of promoting and attracting investment of all kinds in accordance with the laws and regulations in force in the Emirate of Dubai, in addition to working to find the successful promotion of Dubai as a major destination for the economy, trade, events and real estate investment, and to promote The emirate’s capabilities related to international trade, in addition to attracting global and regional companies to establish offices in the emirate.
Bin Mejren said, “Dubai enjoys an investment environment that is attractive to foreign direct investment, as the emirate has demonstrated the sustainability of this advantage even in light of the global outbreak of the (Covid-19) pandemic, which confirms the volume of efforts made by the wise leadership that is always aimed at consolidating and strengthening this position through New legislations and laws, such as the new foreign investment law, which opened many economic sectors to full foreign ownership, as well as expanding the scope of granting long-term golden residencies to many and varied categories of investors and others.
He added that «the conclusion of a memorandum of understanding in this field with the Dubai Foundation for Investment Development, will lead to the creation of a unique and solid cooperation system that contributes to supporting the efforts of the Dubai government towards shaping the future, and providing a stimulating and encouraging environment to attract and attract foreign investments».
A pivotal role
A pivotal role
For his part, Al Qamzi stressed the pivotal role of foreign direct investment in supporting the economic development of Dubai, noting that Dubai has a distinguished geographical location that makes it a global center for trade and investment.
He said, "Based on the promising potentials in this regard, our wise leadership has entrusted us with a clear mission to develop legislation and regulations, and to consolidate effective cooperation between the various government agencies, to strengthen this important economic pillar."
"Given the historical importance of Dubai as a global trade path, foreign direct investment has always been one of the most important pillars on which the city's dynamic economy is based," he added.
Al-Qamzi added, "We look forward to working with Ardi Dubai to find ways to support the expansion and increase of foreign direct investment in Dubai over the coming years."
In turn, Fahad Al-Gergawi said, "The partnership with (DLD) allows us to clarify and facilitate the investor's journey when establishing projects of various companies, and to benefit from the infrastructure available in Dubai, in proportion to each investment project, with different type, nature and requirements."
In the same context, the Executive Director of the Real Estate Investment Promotion and Management Sector at the «Dubai Land» said, “The cooperation agreement with (Dubai Investment Development) came to exchange knowledge, experiences and best practices in promoting and organizing events that would shed light on the investment potentials available in Common areas ».
Events and exhibitions
Events and exhibitions
The Dubai Land Department and the Dubai Investment Development Corporation are committed, according to the memorandum, to exert their best efforts to encourage, enhance and facilitate foreign direct investment, and to develop cooperation on areas of business interest in each of them, in the interest of both parties, as well as cooperation in organizing local and international events and exhibitions. .
This includes organizing digital and non-digital exhibitions and seminars to attract foreign investment to Dubai, joint cooperation in exchanging knowledge, information and best practices applied by them, as well as commitment to permanent and effective cooperation in facilitating matters that would facilitate the affairs of both parties and investors towards joint work.
two sides will work to attract international and regional companies, to establish offices for them in Dubai.
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