Dubai at forefront of world's dynamic emerging markets: DEC chief

Dubai is at the forefront of the world’s dynamic emerging markets, according to the Secretary-General of Dubai Economic Council (DEC).

“Dubai economy enjoys a competitive combination of cost, market and environmental advantages that create an ideal and attractive investment climate for local and FDI alike. In fact, these advantages not only rank Dubai as the Arabian Gulf’s leading multi-purpose business center and regional hub, but they place it at the forefront of the globe’s dynamic emerging markets,” Hani Rashid Al Hamli, while briefing a delegation from Deutsche Bank recently.

Al Hamli said: “We strongly believe in the vital role of strategic partnerships and alliances with local and international entities in order to exchange knowledge, advice and expertise on various issues.”

He also stressed that this vision has been translated into practical steps as the DEC has collaborated with a large number of governmental entities at both federal and local levels, leading global think tanks and top companies from China to North America. “These collaborations are inclusive of enhanced coordination and unified visions in many areas of common interest. China development Bank (CDB) and the US Ex-Im Bank are among those entities that the DEC has already linked in partnership projects.”, he added.

Al Hamli expressed his delight to add Deutsche Bank to the list of DEC strategic partners.  “We look forward to benefitting from the long-standing experience and cutting-edge knowledge of Deutsche Bank in various financial and banking issues” he said.

Al Hamli said that Dubai has full potential to sustain its resilient economy in the region and in the world. “The modern infrastructure, sophisticated logistics and financial services, current trend towards clean energy, in addition to the growing development projects based on PPP approach, all these factors would maintain the resilience of Dubai’s economy” he stressed.

“Nonetheless, DEC policy research and reporting suggest that financial sustainability is key to Dubai’s future development and in its move into Expo 2020, hence this anchoring partnership and continued collaboration with Deutsche Bank will help a lot in understanding the critical success factors (CSFs) to maintain the financial sustainability of the emirate,” he added.

Last year DEC launched the ‘Global financial alliances initiative’ aimed at creating a platform for export credit agencies and top world banks to boost investment in infrastructural mega projects and global trade initiatives in Dubai.

Majid Julfar from Deutsche Bank said, “We are pleased to have the opportunity to meet the DEC to discuss this region’s dynamic economy. As a leading client-centric global universal bank with a critical mass of products and services in Dubai, we are well positioned to continue our productive dialogue with the DEC”.
Deutsche Bank delegation included Kees Hoving, Head of GTB EMEA and CEO of Nederland; Majid Julfar, Director, Corporate and Investment Banking Coverage, Mena; Mr. Sayed-Kamran Zaidi, Head of Trade Finance and Cash Management Corporates Mena.

Accompanying the Secretary General from the DEC were Giovanni Carpenzano, Investment Director; Nasser Al Suwaidi, Secretary General Office Manager; and Ali Al Kaitoob, Strategic Alliance Manager.

 

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