About 500 senior government officials and international investors among other experts took part in Dubai Investment Week 2018 that opened yesterday (October 8) in the Emirate.

Inaugurated by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, the event is hosted by Dubai FDI, the investment development agency of the Department of Economic Development (DED).

Organised under the theme ‘Investing in Future Transformations,’ the event explores the prospects for strengthening local and international partnerships for shaping the future of FDI across innovation, development and knowledge, and review the competitive advantages of Dubai as a major hub in the global economy and a model for smart and sustainable future cities. The opening was attended by senior government officials, decision-makers and leaders within the global investor community.

Sheikh Maktoum also launched the ‘Dubai Guide for Healthcare Investment 2018’, which was prepared by Dubai Health Authority to showcase investment opportunities in the healthcare sector and its sub-sectors; legislations that support the sector; and facilities provided by the Authority to investors.

The first day’s sessions explored the most important opportunities for public-private partnerships in Dubai and the UAE, which topped Arab countries in the World Bank's Ease of doing Business Report 2017 with a global ranking of 26th.

The sessions also highlighted the investment opportunities in strategic and globally emerging economic sectors in addition to developments in the domestic and global business and investment environment.

The second day is devoted to enhancing the readiness of the local and international business and investor community to keep pace with future changes, with emphasis on cooperation and investment partnerships. The discussions are expected to provide pointers to companies seeking opportunities for growth and expansion in Dubai and a gateway to regional and global markets.

Sami Al Qamzi, director general of the Department of Economic Development in Dubai, in his welcome address on the opening day, reviewed the latest figures on the volume of foreign direct investment (FDI) attracted by Dubai in the first half of 2018, which reflect the confidence of the local and international investor community in the economy of Dubai.

Al Qamzi said: "The Dubai Investment Week 2018 is of great importance as it coincides with the UAE Cabinet adopting a federal budget of Dh180 billion ($49 billion) for the 2019-21 period. His Highness Sheikh Mohammed bin Rashid Al Maktoum has announced that next year's budget will be the largest in the history of the Union, accelerating the engines of development and economy, and enhancing the sustainability and global competitiveness of the UAE economy.”

FDI inflows to Dubai recorded a 26 per cent year-on-year growth in the first six months of 2018, reaching Dh17.7 billion.

Fahad Al Gergawi, CEO of Dubai FDI said: “Under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, Dubai Investment Week will continue its pivotal role as an ideal platform to facilitate international investors' access to promising opportunities in Dubai, which is steadily enhancing its global leadership in the ease of doing business and investment. This will lead to further FDI growth, especially in the value-added sectors and in the knowledge, technology and research fields, which are a cornerstone of the UAE Vision 2021 as well as the Dubai 2021 Plan.

"The impressive international presence in the Dubai Investment Week 2018 underscores the confidence of the global investor community in the local investment environment. Dubai has found its place among the top 10 FDI-attracting cities, according to the Financial Times - fDi Markets, which inspires us to strengthen the partnership with local and international investors and explore new horizons together, not only to keep pace with future transformations, but also to contribute to the pursuit of comprehensive and sustainable development goals, and stimulate investment in R & D, technology, innovation and space. "

The opening day of DIW 2018 also saw Sheikh Maktoum bin Mohammed honouring the winners of the ‘Impact FDI Award’ in four categories. He praised the efforts of the business community in deploying FDI towards comprehensive and sustainable development. Panasonic Avionics was honoured for the largest Software & Technical Services project, JSS International School for the largest Education project, and Foresight Group for the largest Headquarters project. DHL received a special recognition for the largest Reinvestment project. – TradeArabia News Service