Thursday 19 September 2019
 
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Fahad Al Gergawi

Dubai FDI to lead investments promotion mission to US

DUBAI, 13 days ago

Dubai FDI, the investment development agency of the Department of Economic Development (DED) in Dubai, has announced that it is all set for its next investment mission to Houston and  Denver in the US.
 
The mission will take place from September 7 and will end on September 14, as a part of Dubai’s Global Mission Program.
 
The delegates will conduct meetings with both government and private sector organisations, in addition to three knowledge-based seminars to discuss investment opportunities in the emirate and emphasise that Dubai is a preferred global destination for foreign direct investment (FDI). The mission will focus on identifying Dubai's strategic advantages and potential US investors on the emirate's growth opportunities to enable them to generate high returns when investing and expanding into regional and global markets from Dubai.
 
The delegation will be composed of Fahad Al Gergawi, CEO of Dubai FDI; Eng Saed Alawadi, CEO, Dubai Exports; Eng Saeed Al Mheiri, UAE Consul-General in Houston; Ahmed bin Sulayem, executive chairman, DMCC; Ibrahim Ahli, director investment promotion, Dubai FDI; and Faisal Jassim, sales manager of Jebel Ali Free Zone Authority (Jafza). 
 
Al Gergawi said: “The mission to the USA demonstrates Dubai strong capabilities as an ideal investment hub and gateway for American companies. The contingent from Dubai, which is renowned for its business-friendly environment, will take advantage of the opportunity to strengthen further the investment and trade relations between the UAE and the US. We will achieve this by engaging with concerned government and private sector organizations and discussing collaborative efforts as we work towards advancing our mutually beneficial initiatives and interests.” 
 
Eng Alawadi said: "We are honoured to be part of this special mission to the US and look forward to share investment opportunities to potential partners and future stakeholders. The USA is recognised as one of the top five strategic trade partners of Dubai and we are confident that the emirate is strategically located, which makes it a key gateway for the US to reach out to other markets in the region.
 
“The main objective of the second mission is to raise the profile of Dubai in US markets and demonstrate the emirate’s keenness to create strategic and sustainable business partnerships,” he added.  
 
The planned global investment promotion mission to the two states follows the steady growth of FDI capital inflows from the US to Dubai. FDI capital inflows from the US to the emirate has reached to Dh14 billion in 2018, making it the largest foreign investor during the same year, based on latest data from the Dubai FDI Monitor. It also reported that the total number of US investment projects in Dubai has reached to 119 in 2018, reinforcing the US position in the lead in terms of the total number of FDI and FDI capital.
 
The accommodation and food services sector led the top five sectors for US investors in terms of FDI projects in 2018, followed by retail and wholesale trade, administration and support services, software publishers, and management of companies and enterprises. The Dubai FDI Monitor further revealed that the top five sectors in terms of FDI capital for 2019 for US investors, the accommodation and food services sector also ranked first, followed by the arts and entertainment sector, educational services sector, storage sector and telecommunications sector.  – TradeArabia News Service



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