The Department of Economic Development (DED) presented an overview of Dubai's current economic development and investment environment to a visiting Korean delegation.

The delegation consisted of 15 Korean businessmen representing securities firms. Headed by Kun Ho Hwang, chairman and CEO of Korea Securities Dealers Association, the delegation is visiting Dubai to study the emirate's experience in the different economic fields especially investment and construction.

Economic Development Advisor at the DED Dr Magd El-Din Mohamed presented a brief on Dubai Strategic Plan 2007-2015 and DED's contribution to economic development. The delegation was briefed on the chief economic sectors that achieved high growth rates in the last few years.

'Dubai occupies a prominent position in the Middle East due to its robust economic performance and the successful growth achieved in various sectors. Dubai provides a suitable environment for international investors and entrepreneurs and encourages them to choose Dubai as an ideal destination for businesses,' said Deputy Director General for Executive Affairs at DED Ali Ibrahim.

Ali said that the Dubai Government is committed to implement business-friendly initiatives that offer value-added services to investors. 'The department joins hands with other government bodies in boosting the emirate's economy in line with the Dubai Strategic Plan 2015,' he added.

The team also studied the procedures and regulations necessary for setting up businesses and the DED's role in enhancing the growth of Dubai's business sector.

Ali said that the DED reviews procedures and systems to simplify the steps for doing business and provide suitable investment options.Trade Arabia News Service