Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, recently hosted a group of investors from Denmark in a workshop on the advantages of investing in Dubai and key industry sectors powering economic diversification in the emirate.

The workshop was part of the ‘Public-Private Connect 2020’ series designed by Dubai FDI to promote public-private engagement and update investors worldwide on the business environment in Dubai. Representatives of local and federal government entities, including the UAE Ministry of Finance and the Business Registration & Licensing (BRL) sector in Dubai Economy, as well as private sector consultants addressed the gathering providing an overview of the laws, processes and reforms enabling sustainable business growth in Dubai.

His Excellency Franz-Michael Skjold Mellbin, Danish Ambassador to the UAE, was also present at the seminar held at the Etihad Museum in Dubai. “I congratulate Dubai on opening its doors to more foreign direct investment. Denmark and the UAE are winners in globalization and making business easier is what defines our competitive edge. At a time when global business opportunities and free trade are under attack I am happy to see the UAE working diligently to underline its status as the preferred destination for business with the Arab World,” commented His Excellency.

Fahad Al Gergawi, CEO of Dubai FDI, said Dubai and Denmark have a remarkable opportunity to collaborate across a number of new and emerging sectors given the strategic focus of Dubai on smart technologies that are sustainable.

“As a well-connected hub for people and trade and a destination for quality living Dubai is ideally placed to attract investment into industries of the future, particularly manufacturing, green technology, information technology, retailing, education and healthcare,” Al Gergawi said adding that Danish businesses have a competitive platform in Dubai to expand their industrial excellence and clean energy expertise to the most promising markets worldwide.

Emphasising the role of Dubai as a hub and gateway connecting to 2.4 billion consumers across the Middle East, Indian Subcontinent and East Africa, Dubai FDI took the audience through the sectors and industries being primed for foreign investment in Dubai, especially in light of Industry 4.0 and the emirate’s transformation into an innovative digital economy and services hub.

Dubai is the third most attractive destination globally for infrastructure investors and the city has invested AED 100 billion in road and transport infrastructure alone, Walid Marhoon, Senior Manager Investment Promotion at Dubai FDI, pointed out in his presentation on the ‘Dubai Advantage.’

The priority given to aerospace, maritime, pharmaceuticals & medical equipment, fast moving consumable goods, aluminium & fabricated metals and  machinery & equipment as part of making Dubai a preferred manufacturing hub for global businesses was also mentioned in the presentation.

Hind Al Youha, Director of Investment Department at the Ministry of Economy, addressed the gathering and spoke about trade and investment policies as well as procedures for starting a business in the UAE. Al Youha explained about the UAE Foreign Direct Investment Law, which provisions 100 per cent business ownership across 122 diversified economic activities, and the benefits and partnership prospects for the global private sector in the UAE.

Rajan Parmar, Partner at EY, spoke about the tax environment in the UAE and the competitive advantages of the UAE in  the context of recent developments in the global fiscal environment.

“In light of recent international tax developments and changes in the international landscape, the UAE’s attractive regime and infrastructure for business and qualified expats have been inviting increasing attention. This trend is expected to intensify and will create new opportunities involving the country as a regional and global hub,” said Parmar.

Ammar Abdul Jawad from the Business Registration & Licensing (BRL) sector in Dubai Economy told the audience about the various service innovations and smart channels introduced to enhance ease of doing business in Dubai and allow investors to focus on growing their business.