Tuesday 24 November 2020 - 7:30:50 pm

Dubai FDI highlights Dubai advantage in food, agribusiness, technology, healthcare, logistics sectors to UK investors


DUBAI, 4th November, 2020 (WAM) --The Dubai Investment Development Agency, Dubai FDI, an agency of Dubai Economy, organised and hosted a series of webinars to connect with potential investors and partners from the United Kingdom, UK, and explore opportunities in the strategic sectors of food and agribusiness, technology, healthcare, and logistics.

In step with Dubai FDI’s engagement strategy for 2020, the four-webinar series created a platform for stakeholders to explore foreign direct investment, FDI, opportunities at a time when in-person trade missions have been affected by the coronavirus, COVID-19, restrictions.

Mansoor Abdullah Khalfan Juma Abulhoul, UAE Ambassador to the United Kingdom, said, "The UAE and the UK have a relationship fostered by shared values of security, economic stability, and growth. Strategic partnerships, high-level visits, key initiatives and trade missions strengthen the bilateral relationship. At this time, webinars provide an effective platform for exploring the potential for investment in key sectors."

The investor outreach, organised in partnership with OCO Global and the British Centres for Business, started on the 22nd September 2020, with the food and agriculture sector in focus. Webinars on the technology, healthcare, and logistics sectors followed on 29th September, 13th October, and 21st October, respectively.

Fahad Al Gergawi, Chief Executive Officer, Dubai FDI, said, "The UAE is the largest market for the UK exports in the region. It commands 40 per cent of the total volume of trade between GCC countries and the UK. Our data show that Dubai received AED5.7 billion of FDI from the UK in the first nine months of 2019. This is an amazing 187 per cent increase over the same period in 2018, underscoring the size of the opportunity for British business in Dubai."

The Dubai Advantage was presented to potential investors at the four webinars by Dubai FDI, supported by key Dubai Government entities related to each of the sectors in focus.

Representatives from Dubai Municipality, Jebel Ali Free Zone Authority, and Dubai Multi Commodities Centre joined Dubai FDI at the webinar on the food and agribusiness sector. Dubai’s focus on developing a robust food and agriculture ecosystem has proven to be an effective counter to potential international supply chain disruptions this year due to COVID-19 restrictions.

Dubai Future Foundation, DFF, and Dubai International Financial Centre joined Dubai FDI at the webinar on the technology sector. As a prime mover in implementing the emerging technologies of the Fourth Industrial Revolution, 4IR, and incubating high-technology start-ups, Dubai is one of the first in the world to utilise the benefits of Artificial Intelligence, AI, robotics and machine learning, blockchain, financial technologies, fintech, and HealthIT. Along with these, Dubai is focusing on 3D printing, cybersecurity, and geographic information systems too.

The healthcare webinar saw representation from the Dubai Health Authority, DHA, and Dubai Science Park, DSP, in addition to Dubai FDI. A steadily growing population and a strategic focus on medical tourism make Dubai attractive for healthcare investment.

The webinar on logistics opportunities in Dubai had representatives from Jafza and Dubai Airport Free Zone Authority joining Dubai FDI to highlight the Dubai Advantage. Dubai is home to the Jebel Ali, Port the tenth largest container port globally. It also has the world’s busiest airport for international passengers, supported by one of the world’s largest airline networks – Emirates – with over 150 global destinations.

As a leading global FDI destination, Dubai recorded exceptional growth in FDI during the first six months of 2020, with 190 projects worth AED12 billion, according to data from Dubai FDI Monitor, which uses Organisation for Economic Cooperation and Development methodology to track FDI data.

Medium and high technology investments accounted for 53 percent of FDI attracted by Dubai in H1 2020, underlining a growing recognition among global investors that Dubai is the ideal place for technology-related investments.

WAM/Esraa Ismail/Hazem Hussein