The Dubai Investment Development Agency (Dubai FDI), a subsidiary of Dubai Economy, has hosted two webinars to connect with potential investors and partners from Germany and to learn the investment opportunities in the healthcare and technology sectors.
The Dubai FDI in line with its engagement strategy for 2020 has offered a platform for the partners to further explore foreign direct investment (FDI) opportunities in the country, as the in-person government global missions have been hindered due to the COVID-19 restrictions.
“Germany and the UAE have an abiding and strategic partnership based on diplomatic and trade relations. Healthcare and technology are both crucial sectors for continued economic and social growth of the country and present enormous opportunities for businesses and entrepreneurs from Germany.”
The UAE is Germany’s biggest trading partner in the region, with the non-oil trade between the countries surpassed $130 billion over the 10 years from 2010 to 2019. Last year Germany was positioned as the ninth-largest trade partner of the UAE.
German companies as well as nearly 14,000 citizens see the UAE as an optimal location. By the end of 2019, a total of 18,781 German companies, commercial agencies and trademarks were registered in the UAE.
The Dubai Advantage hosted by Dubai FDI was enriched with the presence of key government entities related to each of the sectors in focus. Dubai’s positioning as a City of the Future and its importance as a gateway to the region’s emerging markets as well as a global hub of trade and investment was highlighted through the webinars.
For the healthcare-related webinar representatives from Dubai Health Authority (DHA) and Dubai Science Park (DSP) were present to discuss the scope of medical tourism for making the emirate an attractive destination for healthcare investment. The production of generic pharmaceuticals and the production, sales and service of medical devices and medical education will be the key areas of investment in Dubai.
The Dubai Future Foundation (DFF) and Dubai International Financial Center (DIFC) alongside Dubai FDI highlighted the emerging opportunities and achievements of the technology sector like being at the forefront of the Fourth Industrial Revolution (4IR) and boosting high-technology startups, early adopters of artificial intelligence, robotics and machine learning, blockchain, fintech and HealthIT.
As per the Dubai FDI Monitor, during the first half of 2020, the city posted high growth in investments, with 190 projects worth $3.2 billion and nearly 53 percent of it was directed to medium and high technology investments, reflecting the increasing demand for Dubai as a destination to make technology-related investments.