Dubai working to attract more FDI

Dubai continues to be among the most-favoured destinations for foreign direct investments (FDI) with its world-class infrastructure and highly attractive investment climate, a senior Dubai government official said yesterday.

Sami Dhaen Al Qamzi, Director-General of Dubai's Department of Economic Development (DED), talking to Al Bayan, was responding to a report by AT Kearney.

The report based on a survey reflected the confidence expressed by a huge majority of the FDI already in the emirate. The emirate was working to attract more FDI, he said.

Referring to the report that was based on responses from around 1,000 senior officials of foreign firms, Qamzi said: "This came at a time when we needed such feedback."

He said the overall confidence of investors was reflected in the survey. More than 80 per cent of the respondents that include CEOs and chairmen of companies, indicated plans to enhance their investments.

The findings of AT Kearney also proved the Western media was wrong in painting a gloomy picture of Dubai, he said.

In co-ordination with the federal government and local bodies, he said Dubai will draw up a plan to seek FDI from newer destinations. New regions such as western Africa and Latin America are being looked into, he said.

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