In support to the UAE’s important role as a ‘vital station along the new Silk Road’ as reflected in the latest agreement between China and the UAE valued at AED 12,486 billion, Dubai FDI, the investment development agency of Dubai Economy (DED), is set to embark on its latest investment mission to major cities in the country as part of its strategic efforts to support the global infrastructure program Belt and Road initiative. Dubai FDI will lead a delegation of government and business leaders to take part in Dubai Advantage Forum and exclusive meetings in Shanghai and Shenzhen from June 24 to 29, 2019.
The delegation will be composed of Khalid Al Boom, Deputy CEO; Ibrahim Ahli, Director of Investment Promotion Department; Nasser Al Suwaidi, Expert from Dubai FDI; Ahmad Hamza, Executive Director – Free Zone, DMCC; Shoaib DAl Rahimi, Vice-President of the Business Park, Dubai South; Imran Sheikh, Chief Investment Officer, Dubai Healthcare City Authority; Khalid Sharaf, Head of International Business Engagement at Expo 2020 Dubai; Nadimeh Mehra, Vice President – District 2020; and Michael Qu, Cargo Manager, Emirates Skycargo, in addition to other officials from these entities. They will engage in an interactive platform to discuss Dubai’s leading initiatives in facilitating foreign direct investments (FDI) through ‘Dubai Advantage Forum 2019’ in Shanghai on June 24 as well as take part in several business meetings in China on June 25. A roundtable discussion will be held in Shenzhen on June 27 followed by direct visits to major Chinese companies and business meetings on June 28.
Fahad Al Gergawi, CEO, Dubai FDI, said: “Dubai has always played an important economic hub for Asia and this role continues to evolve towards greater heights following China’s launch of the Belt and Road initiative, the new global trading highway designed to link Asia to Africa and Latin America directly through the Middle East. With the emirate’s current strategic position as a regional base for many Chinese companies, the Dubai Government continues to engage in initiatives that would further promote the ease of doing business in the emirate for China’s public and private sector in line with its global ambition to pave the way for the new Silk Road.”
Khalid Al Boom, Deputy CEO, Dubai FDI, noted: “China maintains its leading position as Dubai’s topmost trading partner with its market value reaching AED 139 billion in 2018. The emirate’s key trading partners in China continue to enjoy lucrative opportunities market and we are keen to promote and facilitate the investment processes for leading companies in Shanghai and Shenzhen in this planned mission. Following the recent major deals which took place between UAE and China, we are confident that the forums and business meetings to be held soon in Shanghai and Shenzhen will open new opportunities for leading businesses in major sectors.”
Dubai continues to promote the emirate’s investment growth opportunities in line with the UAE’s plan to expand global leadership in key sectors such as aerospace, manufacturing, advanced technology, logistics, healthcare, financial services, life sciences, and food products and agriculture. The UAE has been a strong bilateral trade partner of China, which is its second largest trading partner, valued at AED 194,642 billion and is expected to soar up to AED 257 billion by 2020.
Following a recent agreement, a 60-million square feet ‘Traders Market’ which received AED 8,814 billion of Chinese investments will be built opposite Dubai’s Expo 2020 site, aimed at providing an international station for storing and shipping Chinese products from Jebel Ali to the world.