Dubai FDI, the investment development agency of Dubai Economy (DED), has successfully promoted the emirate’s key advantages as a global investment destination during a recent mission to Spain.
The Dubai delegation, which also included executive leaders from Dubai Multi-Commodities Centre (DMCC) and strategic partner Senda International, engaged 45 top-level investors in Madrid and Seville through seminars and strategic one-to-one private meetings in Barcelona on major opportunities in the emirate.
Fahad Al Gergawi, CEO of Dubai FDI; Ibrahim Hussain Ahli, director of Investment Promotion Department, Dubai FDI; Ahmed Bin Sulayem, executive chairman of DMCC; and Natalia de la Figuera de Olano, CEO of Senda International Dubai, discussed through key presentations Dubai’s continuing leadership as a global investment destination in high-growth markets and highlighted the possible cooperation opportunities in key sectors considering the strong economic relations between the UAE and Spain.
Dubai FDI noted that major entities, groups and companies in the field of healthcare, construction, higher education, manufacturing industries, building materials and food products, took interest in the event with the presence of UAE dignitaries Mohamed Al Shamsi, consul general of the UAE in Barcelona and Sara Almahri, acting charge d'affaires of the UAE Embassy in Madrid.
The delegation also explored collaboration opportunities with the Seville Chamber of Commerce and Industry during the visit to their headquarters.
Al Gergawi underscored during the meetings Dubai FDI’s key role in facilitating the emirate’s investment strategies in line with Dubai’s vision as the investment destination of choice by global investors. Growth in Spain’s FDI to Dubai has reflected the country’s robust economy and keen interest of the business sector to expand globally.
It was noted that the foreign direct investments (FDI) from Spain to Dubai is growing and reached Dh3.29 billion in 2018, compared to Dh1.145 billion in 2016 and Dh7.34 million in 2017.
The top sectors that draw FDI inflows include non-residential building construction; accommodation and food services; arts, entertainment and recreation; management of companies and enterprises; and retail and wholesale trade. In terms of FDI projects, retail and wholesale trade lead the sectors, followed by non-residential building construction, accommodation and food services, software publishers, and administration and support services, respectively.
The UAE is currently home to about 200 Spanish-owned companies, while more than 7,000 Spanish citizens reside in the country. Some of the leading Spanish companies in Dubai are specilised in fields such as machinery, equipment, industries, building materials, fashion, education, health care, food, hospitality and hotels. – TradeArabia News Service