Sun 22-07-2018 13:15 PM

Dubai eyes stronger business, investment ties with Egypt

DUBAI, 22nd July, 2018 (WAM) -- Dubai FDI, the investment development agency of Dubai Economy Department, DED, has moved to strengthen Dubai’s business further and investment ties with Egypt, following its meeting with high-level Egyptian delegates from the General Authority for Investment and Free Zones.

During the discussions held in Dubai, both parties tackled the volume of foreign investments coming into the city as a result of the government’s intensive efforts to create a business-friendly environment and enact critical socio-economic policies. Dubai FDI also took the opportunity to explain its mandate and role in creating a business-appropriate landscape to attract international companies and help stimulate capital growth.

Khalid Al Boom, Deputy CEO of Dubai FDI, who welcomed the Egyptian officials, said that Dubai and Egypt’s joint efforts and deepening relations constitute a significant boost to the government’s initiative to make Dubai one of the most sustainable and competitive business hubs in the world. Al Boom also said that the visit would further reinforce government-to-government ties and promote sharing of knowledge of expertise.

He noted that the current favourable business environment would further push a new phase of economic and investment cooperation between the two countries to help realise their growth and development goals.

"We at Dubai FDI are fully committed to continue on the path towards success and optimise Dubai’s transformation and potentials to make the emirate’s one of the most stable economy in the Middle East and the world," he concluded.

The Egyptian delegates were introduced to local business, government, and legislative processes and procedures. Dubai FDI officials also discussed promising business opportunities and key services that benefit foreign companies operating in the emirate.

The Dubai Government has rolled out a comprehensive programme to help foreign companies interested in starting their business in the city to ensure their profitability and success. The foreign officials also toured the Dubai Multi Commodities Centre and the Dubai Silicon Oasis Authority as part of their visit during which they learned about the institutions’ best practices, development strategies, main service offerings, and major investment opportunities.

WAM/Nour Salman