Dubai and the UK has a historic and flourishing friendship and this week EP brought a community together for an event which focused on the avenues and prospects for this bilateral engagement.
Dubai FDI in conjunction with Senator Advisory Services outlined the vision for the future of Dubai and the key influences, trends and opportunities that are at play.
The breakfast presentation was held in the beautiful rooms of The Ritz and in support were Gordon Dadds, a leading London law firm who offer advice and support on investment and business set up into Dubai.
It’s a very exciting time for the region and ambitious growth plans are already transforming Dubai from a regional hub into a global destination of the future.
Key stats from the morning:
- The city can reach a consumer market of 2.2 billion people living in the Middle East, North Africa, Indian Subcontinent and the CIS region.
- Over 200 nationalities call Dubai their home
- The city attracted 14.9 million visitors last year
- Around 240,000 British citizens call the UAE their home
- The UAE sees over a million British tourists every year
Fahad Al Gergawi, CEO of Dubai FDI and his colleague Ibrahim Ahli, Director of Investment Promotion for Dubai FDI presented during the morning, took questions and participated in an informative discussion. They explained how they support all aspects of business decisions and management, determining the best legal structures to identifying investment opportunities.The presentation identified exciting plans for the future in smart cities, green energy, health, tourism and education but to mention a few.
Mission to the UK
Investors from across major industralised countries are choosing Dubai as an ideal location to grow and expand their footprint and there are still many opportunities which exist, especially for the hospitality sector and its businesses.
Dubai is now a regional gateway and global hub and has have been instrumental in promoting trade and investment flows between the UAE and UK. The two are now eyeing a bilateral trade target of around 120 billion dirhams (or £25bn) by 2020.
Dubai’s economic development
Initiatives like the Dubai Industrial Strategy 2030 aims to elevate Dubai into a global platform for knowledge-based, sustainable and innovative-focused industries.
The Dubai Plan 2021 places its emphasis on Dubai as a tolerant, enterprising and enabling multinational society. The vision is to achieve:
- City of happy, creative, empowered people
- Inclusive and cohesive society
- Preferred place to live, work and visit
- Smart and sustainable city
- Pivotal hub in global economy
- Pioneering and excellent Government
Dubai is seeking partners to bring in more financial, technology and knowledge capital and nurture innovations in line with the city’s position as a global entrepreneurial and export hub. Exciting times ahead indeed.