The Dubai Investment Development Agency (Dubai FDI) a subsidiary of Dubai Economy, conducted a series of webinars to broaden the investors and partners network from the United Kingdom (UK) and to explore opportunities in the sectors of food and agribusiness, technology, healthcare, and logistics.
The webinar series has built a platform for the shareholders to examine the prospect in foreign direct investment (FDI) at a time when in-person trade has been affected by the COVID-19 restrictions.
As part of the Dubai FDI’s engagement strategy 2020, the investor outreach was organized by cooperating with a leading economic development firm, OCO Global and the British Centres for Business, a business to business professional service company.
The webinar series commenced on September 22, with a key focus on the food and agriculture industry following sessions on the technology, healthcare and logistics sectors that were conducted on September 29, October 13 and October 21, respectively.
Mansoor Abdullah Khalfan Juma Abulhoul, UAE Ambassador to the United Kingdom, stated that “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 UAE is the largest market for the UK exports in the region. It commands 40 percent of the total volume of trade between GCC countries and the UK. Our data show that Dubai received $1.5 billion of FDI from the UK in the first nine months of 2019. This is an amazing 187 percent 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.
Food and agribusiness
At the webinar on the food and agribusiness industries the Dubai Municipality, Jebel Ali Free Zone Authority and Dubai Multi Commodities Centre (DMCC) authorities were present along with Dubai FDI. The Emirate’s effort on creating a food and agriculture ecosystem has become an effective solution to potential international supply chain disturbances that occurred due to COVID-19 restrictions.
For the technology sector webinar, representatives from Dubai Future Foundation (DFF) and Dubai International Financial Centre (DIFC) joined Dubai FDI. Being a key player in the Fourth Industrial Revolution (4IR) Dubai has implemented emerging technologies and incubated high-technology startups. The Emirate is also one of the first in the world to use the benefits of Artificial Intelligence (AI), robotics and machine learning, blockchain, financial technologies, fintech and Health IT.
The healthcare webinar saw presentation from the Dubai Health Authority (DHA) and Dubai Science Park (DSP) in addition to Dubai FDI. Dubai is an attractive hub for healthcare investment due to its steadily growing population and strategic focus on medical tourism.
Jebel Ali Free Zone and Dubai Airport Free Zone authorities were present with Dubai FDI in discussing the prospects in logistics opportunities. Dubai’s Jebel Ali Port is 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.
During the first six months of 2020 Dubai had posted an extraordinary growth with 190 projects worth $3.2 billion, as per Dubai FDI Monitor data, that relies on Organization 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, which exhibits the global recognition that Dubai receives as an ideal hub for technology-related investments.