Dubai FDI, the foreign investment office in the Department of Economic Development (DED) in Dubai, succeeded in attracting and promoting 77 companies in the emirate during 2011.
Together, the companies accounted for a total foreign direct investment (FDI) of Dh3.44 billion and a turnover of Dh16.57 billion, DED said in a statement.
“Investors world over are now more focused on faster access to markets and better efficiencies in terms of operations and cost. Dubai, by virtue of its location and infrastructure, offers the fastest link to the growing markets across the Middle East, Africa and South Asia. At the same time, policy-making in the emirate is essentially linked to promoting business and enterprise,” Fahad Al Gergawi, Chief Executive Office of Dubai FDI, said in the statement.
“For Dubai FDI, the focus is on communicating the competitive advantage of doing business in Dubai to the global investor community. We have successfully developed a variety of channels and tools to demonstrate to businesses the benefits in setting up their base in Dubai to reach out to key markets worldwide,” Al Gergawi added.
According to DED, the past year saw significant gains by Dubai FDI in strengthening its links with governments, investment promotion agencies and the investor community across the globe. New partnerships, research and enhanced networking helped Dubai FDI address investor concerns more efficiently and share best practices in encouraging FDI inflows.
The strategic advantages of Dubai as a regional operations hub and investment destination were successfully conveyed across a wide range of platforms including trade and industry forums, workshops and mutual visits by business delegations, hosted and attended by Dubai FDI in 2011.
The 77 companies set up in Dubai represent different operations including logistics, construction, technology, chemicals and renewable energy, reflecting the growing diversity of enterprises leveraging Dubai to gain traction and service strategic growth markets.