Good sentiment driving FDI inflow
The Foreign Investment Office, the investment promotion agency of the Dubai Department of Economic Development (DED), has reported positive outcomes from its association with The Links Group (TLG), a leading company formation specialist in the GCC.
The innovative public-private partnership model formed in October 2010, along with increasing investor confidence has seen more than 40 new entities being established in Dubai to-date, said Khalid Al Boom, Executive Director, Investment Support and Promotions, Foreign Investment Office.
The Links Group, established in Dubai in 2002, works to enable companies to complete all legal and commercial processes required to set up a business in the UAE. Working together with The Links Group and the Foreign Investment Office collaborate to identify companies and businesses looking to set up in Dubai and work with them through the transition process.
“By offering a streamlined “fast-track” route to the market, The Links Group and the Foreign Investment office are gaining traction and driving companies onshore in the Emirate of Dubai. The partnership has also contributed to the growth of positive investor sentiment and consequently brought more foreign direct investment (FDI) into Dubai”.
"Our partnership with the private sector is in line with our role in assisting the government to bring foreign investment into Dubai and shows DED’s confidence in the private sector and its competitiveness" added Al Boom.
AT Kearney recently ranked Dubai among the top 25 global destinations, which attract 75 per cent of global FDI flows. The report also showed a strong confidence in the prevailing business environment and growth prospects in Dubai with 28 per cent of the executives surveyed choosing Dubai as their top investment destination for the next three years and 81 per cent of existing investors revealing that they planned to maintain or grow their investments over the same period.
Citing Dubai’s economic fundamentals, strategic location and reach to fast-growing markets the investors also said the Emirate is a catalyst for the region and the first in line to exit the global economic downturn. With easy access to 1.7 billion consumers in the Middle East and North Africa (MENA) region and South Asia, Dubai has become the regional hub for global enterprises, they said.
Stuart Curtis, Managing Director of The Links Group, emphasised the importance of specialised knowledge and cross-market expertise in helping investors optimise their opportunities in Dubai.
“Small and medium enterprises (SMEs) and multinational companies need to recognise that to provide products and services onshore in Dubai they have to be appropriately licensed. The business benefits are clear and companies want to do business with other companies that are registered with the Department of Economic Development Department and the Chamber of Commerce in Dubai in a manner that is mutually beneficial and devoid of any risks,” said Curtis.The Links Group provides consultative services to prospective companies on the benefits of setting up in Dubai, which include but are not limited to financing, SME support, quality networking and introductions with a best-in-class support infrastructure. Specific feedback from The Links Group also enables the Foreign Investment Office to move as fast as possible on applications from companies.