UAE – The Dubai Funding Improvement Company (Dubai FDI), an company of Dubai Financial system, related nearly with potential buyers and companions from the US to current alternatives in Dubai’s know-how, healthcare and logistics sectors.
The outreach is a part of Dubai FDI’s general technique of digital engagement in 2020, presenting an array of funding alternatives through the interval when in-person commerce missions have been affected by Covid-19 restrictions.
Al Gergawi added: “With complete commerce between the 2 nations amounting to $24.three billion in 2019, this relationship is predicated on strong foundations. Over 60 per cent of the ‘Fortune 1000’ corporations have established a presence in Dubai, utilizing the town as their regional base. “
The know-how webinar was hosted by the US Consulate Basic, Dubai; US Industrial Service, Florida; and Enterprise Florida. Individuals had been welcomed by the US Consul Basic in Dubai, Philip Frayne, and the webinar was moderated by Christian Koschil of US Industrial Service of the US Division of Commerce, which additionally made a presentation. The initiative is supported by the US-UAE Enterprise Council, which can be an lively participant in UAE in-person missions throughout the US.
Frayne mentioned: “I applaud Dubai FDI for conducting such essential webinars on these three very important sectors. Programmes like these will assist broaden even additional the already sturdy bilateral commerce and funding ties that the UAE and USA take pleasure in. As soon as this pandemic passes I look ahead to greeting delegations of American businessmen coming to Dubai to discover the good partnership alternatives that also exist.”
The UAE Consul Basic in New York, Abdalla Shaheen, offered his compliments, adopted by a keynote deal with by Fahad Al Gergawi, CEO of Dubai FDI, and displays by Saeed Al Awadi CEO of Dubai Exports in addition to senior executives of Dubai Future Basis, Dubai Worldwide Monetary Centre (DIFC), and Sensible Dubai. Dubai FDI additionally made a presentation on the Dubai Benefit.
Organised by the legislation agency Seyfarth Shaw LLP and the US-UAE Enterprise Council, with the help of US Industrial Service, the healthcare and logistics webinars introduced collectively a number of authorities and company stakeholders in these sectors.
The UAE Consul Basic in Houston, Saeed Almheiri, delivered the opening speech at each webinars, highlighting the depth of commerce ties between the US and the UAE. The US Industrial Service of the US Division of Commerce made displays, whereas the CEOs of Dubai FDI and Dubai Exports addressed the viewers.
On the healthcare webinar, the Dubai Well being Authority (DHA) highlighted its pioneering work within the subject of 3D printing of prosthetics. Dubai Science Park (DSP) and Dubai Healthcare Metropolis (DHCC) offered their respective worth propositions adopted by the Dubai Benefit presentation by Dubai FDI.
On the session on logistics, Dubai South, Jebel Ali Free Zone (JAFZA) and Dubai Airport Free Zone (DAFZA) offered the worth these free zones provide. Emirates SkyCargo showcased its route community and capability, adopted by the ‘Dubai Benefit’ presentation from Dubai FDI.
Dubai has positioned itself as the town of the longer term because it deploys the applied sciences of the Fourth Industrial Revolution (4IR) to reinforce stakeholder happiness. On the identical time, Dubai stays an essential gateway to the area’s rising markets, whereas its superior infrastructure positions it as a worldwide hub for commerce and funding.
Since 2015, the US has constantly been the most important supply marketplace for international direct funding (FDI) into Dubai, in line with knowledge from the Dubai FDI Monitor, accounting for $four.98 billion (greater than Dh18 billion) within the first 9 months of 2019.
Ibrahim Ahli, Director, Funding Promotion, Dubai FDI, mentioned: “Regardless of the challenges posed by the Covid-19 pandemic, Dubai has maintained its main place amongst international FDI locations through the first six months of 2020, rating third globally in greenfield FDI Initiatives and fourth globally in FDI capital inflows.”
Ahli added: “This clearly displays the optimistic investor sentiment based mostly on the Dubai Authorities’s sturdy dedication to diversification, innovation, infrastructure and ease of doing enterprise – amongst different components.”
Medium and Excessive know-how investments in Dubai through the first half of 2020 additionally elevated 53 per cent, in comparison with the identical interval of 2019. As a major mover in implementing the rising applied sciences of the Fourth Industrial Revolution (4IR) and incubating high-technology start-ups, Dubai is without doubt one of the first on this planet to utilise the advantages of Synthetic Intelligence (AI), robotics and machine studying, blockchain, monetary applied sciences and healthtech.
The tech focus and investor-enabling surroundings in Dubai has additionally seen quite a few home-grown digital enterprises, most notably ride-hailing app Careem, e-commerce platform Souq.com, and dubizzle, quick rising as unicorns and enticing targets for multinationals. Careem was acquired by Uber in 2019 and Souq.com by Amazon in 2017, whereas OLX purchased dubizzle in 2015.
Dubai being an essential centre for medical tourism additionally makes it a sexy funding vacation spot. Dubai’s technique of creating centres of excellence in fields as various as cardiology, neurology, and rehabilitation is calibrated to steadiness provide with demand. Manufacturing of generic prescribed drugs and the manufacturing, gross sales, and repair of medical gadgets are additionally areas of focus.
Well being expenditure within the UAE is anticipated to succeed in $18.three billion by 2023. Healthcare service supply is an important a part of Dubai’s digital readiness and innovation tradition. The US and the UAE have a protracted historical past of healthcare partnerships. Examples embody the Dubai-based Valiant Clinic, which turned part of Houston Methodist’s International Well being Care Community, the American Hospital Dubai, which turned the primary hospital within the Center East to hitch the Mayo Clinic Care Community, and the Cleveland Clinics working in Abu Dhabi.
Dubai’s logistics functionality and its standing as a significant international logistics hub are enhanced by the truth that the town is house to the world’s 10th busiest sea and container port, one of many world’s largest airline networks, an ultra-modern freeway system with connectivity to neighbouring nations, and 3PL (third Celebration Logistics) and climate-controlled warehousing services of the best international requirements.
The Dubai Plan 2021 contains logistics as a key pillar of improvement. With Expo 2020 scheduled for subsequent 12 months, the logistics panorama in Dubai is present process fast transformation because it continues to be counted among the many finest on this planet. An ever-increasing demand for e-commerce, which has seen elevated acceptance and progress in 2020, has strengthened Dubai’s positioning as a number one hub for logistics throughout the Center East and globally.
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