Dubai’s Free Zones attracts 50% of total FDI in Emirate
The second day of the Annual Investment Meeting (AIM 2014) held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai at the Dubai International Convention and Exhibition Centre, had lengthily discussions on the opportunities and potential of Foreign Direct Investment (FDI) in viable industries like agriculture and food. Also, the role of free zones in attracting FDI was another major highlight of the day.
According to Dubai Statistics Centre, free zones in Dubai captured 50 percent of the FDI in the emirate, which demonstrated the Emirate’s success in leveraging this pioneering model to attract investments, backed by a world-class infrastructure and professional environment, unparalleled logistics services as well as an advanced air, land and marine transportation network, in addition to investor-friendly legislation, tax free regime, safety and economic stability. All these factors have enhanced the capabilities of Dubai and the UAE in attracting investors.
Participants at the meeting agreed that Dubai provided the most successful model in which retail and wholesale trading, processing manufacturing, transportation and communications remained key drivers of investment to the free zones.
Mr. Dawood Al Shezawi, CEO, AIM’s Organizing Committee, said, “The meeting succeeded in enabling knowledge exchange among experts, professionals, academics, consultants and others more than 110 countries.”
On the second day, there was a discussion on flow of FDI into developed and developing markets, with the participants agreeing that higher level of FDI was flowing into developing countries, is sharp contrast to the late 90s when it was in favour of developed countries. AIM 2014 is helping provide deep insights into new FDI trends through presentations from economic experts, senior officials and decision makers participating in the workshops at the sidelines of the event.
AIM 2014 is an ideal event to enrich discussions on the efficacy of policies pertaining to investments and shed light on challenges facing the investment industry in the world as well as highlighting potentials, monitoring development and enhancing the role of UAE as a real partner in the development of investment policies.
The 4th edition of AIM 2014 is an enriching experience for all participants through open discussions as well as live demonstrations and comprehensive insights. The event also helped forge partnerships and build bridges between countries as well as facilitate cultural exchanges, which was evident at the gala dinner during the Investment Awards held in Armani Hotel on the first day.
AIM is in sync with UAE’s vision to enhance the investment environment in the country reflected in the Ministry of Economy introducing new legislation to protect investments through a series of bills that would soon become laws.
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