Dubai FDI to embark on US tour

Dubai FDI, the foreign investment office of the Department of Economic Development, on Sunday began a tour to key commercial centres across the United States, highlighting the favourable business climate and growth opportunities in Dubai. The tour, which ends on October 5, is part of the “Dubai and Northern Emirates USA Road Show”, and is led by the US Consulate in Dubai and supported by Dubai FDI. It aims to increase awareness of the UAE’s proven capabilities and potential as an investment destination and regional hub among American businesses. The first-ever event of its kind will bring together government officials and business representatives from various industry sectors in the UAE and US across five cities — New York City; Atlantic City, New Jersey; Minneapolis/St Paul, Minnesota; Seattle, Washington; and Dallas/Fort Worth, Texas. Nearly 500 US companies, ranging from small and medium enterprises to major multinational companies, are expected to attend the road shows. Dubai FDI is part of a 25-member delegation of representatives from major public and private sector enterprises including the Dubai Electricity and Water Authority and Dubai World Central. “The UAE, as well as the US, has distinctive strengths that can be combined to create a unique synergy. The multi-disciplinary expertise and enterprise diversity of the US can be easily expanded and exported to the emerging markets through Dubai,” said Fahad Al Gergawi, chief executive officer of Dubai FDI. US exports to the UAE showed an annual increase of 36 per cent in 2011 and the first quarter of 2012 alone has shown an increase of 75 per cent. The US was also among the top source countries of foreign direct investment into Dubai in 2011. “Recent enhancements in infrastructure and policies in Dubai have had substantial impact on re-exports and the ease of doing business. Dubai is reinforcing its credentials as a sustainable business environment and the most efficient hub that can link businesses to the fast-emerging markets in the Middle East, North Africa and South Asia,” added Al Gergawi. From : Khalij