Dubai Land Department (DLD) and Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, has signed a memorandum of understanding (MoU) outlining the important areas of partnership and a roadmap for enhancing Dubai’s position as the desired center for investments.
The entity will join forces to lay down a general framework that would heighten the attractiveness of investment in Dubai by drawing foreign direct investment (FDI), increasing the scope of promotions and knowledge sharing as well as organizing joint activities to attain the strategic objectives of the emirate.
The MoU was signed by Fahad Al Gergawi, CEO of Dubai FDI and Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, in the presence of HE Sultan Butti bin Mejren, Director General of DLD, HE Sami Al Qamzi, Director General of Dubai Economy.
Speaking on the occasion Mr. Mejren, stated that “Signing the MoU with Dubai FDI in this field will lead to the creation of a unique and solid cooperation system that contributes to supporting Dubai government’s efforts towards shaping the future and providing a stimulating and encouraging environment to attract FDI.”
“Dubai is geographically positioned at the center of global trade and investment. Recognizing the potential of this, our leaders have given us a clear mandate to develop legislation, regulation as well as collaboration among the various government departments to strengthen this economic foundation. Given Dubai’s historical importance as a global trade route, foreign direct investment has always been a key pillar on which the city’s economy has been built.”
The agreement focuses on the key areas of partnership between the two parties, which include cooperation and the exchange of information in the fields of promoting and attracting investments of all kinds following the laws and regulations of the emirates.
The MoU also seeks to position Dubai as a major destination for the economy, trade, events and real estate investment and to enhance the emirate’s capacities in international trade as well as to attract global and regional companies to establish offices in the emirate.
According to the agreement, both parties will also cooperate in organizing local and international events which include digital and non-digital exhibitions and seminars to attract foreign investment to Dubai and to bring cooperation in exchanging knowledge, information and best practices applied by them.