During an open dialogue organized by the Dubai Economic Department as part of the "Market Dialogue" series
Al Gergawi: Dubai maintains its leadership among foreign investment destinations despite "Corona"
Dubai enjoys advantages that make it a destination for investment and conducting business for international and emerging companies.
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Fahad Al-Gergawi: "The (Covid-19) pandemic has demonstrated the efficiency and speed of services provided by the Dubai government and free zones."
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The Executive Director of the Dubai Investment Development Corporation, a Dubai economic institution, and the President of the World Association of Investment Promotion Agencies (WIPA), Fahad Al-Gergawi, confirmed that Dubai maintained its leadership among the destinations of foreign direct investment during the first half of this year, despite the negative effects it left The outbreak of the new Corona virus (Covid-19) on business expansion activity, and a significant decrease in global foreign direct investment flows.
Advanced centers
Al-Gergawi added, during an open dialogue organized by the Dubai Economic Department as part of the "Market Dialogue" series, under the title: "Readiness for Investment ... The Future of Growth, Partnership and Innovation", that the emirate came first among the cities that attract foreign direct investment in the Middle East and North Africa region. Third in the world in terms of the number of new projects, and fourth in the world in terms of project capital.
He pointed out that Dubai ranks first in the Middle East and North Africa region, and third in the world as the best city in the world in relation to the number of foreign direct investment projects that have attracted, and also ranks first in the Middle East and North Africa region and sixth in the world as the best cities in the world to attract foreign direct investment in terms of Capital flows, in addition to the first place in the Middle East and North Africa region, and the seventh in the world as the best cities in the world in terms of the number of jobs resulting from foreign direct investments.
Qualitative investments
Al-Gergawi stressed that the corporation works closely with investors, with the aim of enhancing the absorptive capacity of new quality investments that keep pace with the development of global markets, and enhance the sustainability and growth of foreign direct investment in Dubai.
He stressed that the readiness for the future supports the opportunities for growth, partnership and innovation for investors, and preserves the emirate's gains, the most prominent of which is the region's cities for a full decade during the period from 2010-2019 in attracting foreign direct investment.
Governmental competence
Al-Gergawi explained that the "Covid-19" pandemic showed the efficiency and speed of services provided by the Dubai government and free zones to facilitate the process of establishing and licensing investment projects and companies in the emirate, which created new investment opportunities that enhance the growth and expansion of investor business in the sectors of health care, logistics and e-commerce. And the digital economy, as well as new sectors such as food and advanced agricultural technology.
Strategic ingredients
Al Gergawi continued: “The business community has the advantages of Dubai that it enjoys, and made it a destination for investment and business for global and emerging companies. This is what we call the strategic components, including: infrastructure and legislation, public services, geographical location, and other elements that have strengthened Dubai’s global position. , The smart and sustainable city of the future, and a major hub in the global economy ».
He added, "Dubai continues its process of developing its readiness in all fields with confident steps, thanks to the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai."
Dubai's readiness
Al-Gergawi pointed to the importance of Dubai's readiness to attract investment in its traditional and new forms, which crystallized in launching specialized initiatives that have strengthened the emirate's readiness to attract investment in new economic sectors, the most important of which are green economy, renewable energy, smart city, digital economy, artificial intelligence, transport and transportation, and printing Three-dimensional, e-commerce, and other technologies of the Fourth Industrial Revolution, noting that these initiatives have contributed to Dubai achieving a privileged position among the top 10 investment-attracting cities in the world in the fields of artificial intelligence, renewable energy, space, and financial technology.
Global trends
Al-Gergawi said that global investment trends confirm the importance of the maturity of the local market in the areas of entrepreneurship and innovation, which have become one of the most important factors attracting new types of investment, especially venture capital investments in startups, and mergers and acquisitions.
He revealed that Dubai despite the challenges of the "Covid-19" pandemic and the restrictions imposed on international travel;
It was able to achieve a new milestone in attracting investments exceeding two billion dirhams in startups based in the emirate.
Global city in reference comparisons
The Executive Director of the Dubai Investment Development Corporation, Fahad Al-Gergawi, said that the emirate occupies a distinguished position in the Financial Times Index (FDA Markets), which monitors capital flows and investment projects around the world, and ranks a major global city in reference comparisons and rankings of cities' performance in attracting investment. Al Mubasher, due to its sustainable performance in attracting investment over the past 10 years.
He added, "Dubai has achieved a new global achievement in the sustainability of attracting foreign direct investment, to enhance its position as a preferred global destination for investment in various economic sectors, and as a center for the headquarters of major international companies."
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