The Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy organised and hosted a series of four webinars to connect virtually with potential investors and partners from Canada and explore opportunities in the strategic sectors of healthcare, logistics, food and agribusiness, and technology.

Aligned to Dubai FDI’s virtual engagement strategy for 2020, the webinars enabled key stakeholders to explore foreign direct investment (FDI) opportunities at a time when in-person trade missions have been affected by the COVID-19restrictions.

Fahad Al Gergawi, Chief Executive Officer, Dubai FDI, said: “Canada and the UAE have a strong bilateral partnership. We continue to expand investment in each other’s economies, thereby creating jobs and building for the future. Dubai’s strategic sectors offer significant opportunities for Canadian businesses and entrepreneurs, who can benefit from the growth in these sectors. Canadian FDI into Dubai crossed CA$ 1 billion (AED 2.76 billion) during the 2015-2018 period itself.”

Al Gergawi added: “The numbers tell the robust story of a growing partnership. The UAE is Canada’s top trading partner in the Middle East and North Africa region. More than 150 Canadian brands and more over 40,000 Canadians have made the UAE their home. Canada is the UAE’s second largest export market in North America.”

The virtual outreach, organized in partnership with the Canadian Business Council, Canada Arab Business Council (Canada) and the Canada-UAE Business Council (Canada), started on the 12^th of August 2020, with the healthcare sector in focus. Webinars on the logistics, food and agribusiness,and technology sectors followed on 18 August, 09 September, and 16 September, respectively.

His Excellency Fahad Saeed Al Raqbani, UAE Ambassador to Canada, said: “The UAE and Canada have strategic partnerships at multiple levels, supported by key initiatives and trade missions. These go a long way toward strengthening the bilateral relationship. At this time, webinars on exploring the potential for investment in key sectors can be of great benefit to nurturing this partnership.”

Saed Al Awadi, CEO of Dubai Exports, the export promotion agency of Dubai Economy, said: “Despite the current global challenges, Dubai remains committed to its strategic goals and Canada is a key trading partner. Showcasing the investment opportunities and our willingness to support investors will further strengthen Dubai’s position as an internationally competitive export and re-export hub.”

Dubai has positioned itself as a city of the future and remains an important gateway to the Region’s emerging markets, while its advanced infrastructure positions it as a global hub for trade and investment. The Dubai Advantage was presented to potential investors at the four virtual seminars by Dubai FDI, supported by key Dubai Government entities related to each of the sectors in focus.

The healthcare webinar moderated by Dr. Andrew Padmos, CEO of the Royal College of Physicians and Surgeons of Canada, saw representation from Dubai Health Authority (DHA), Dubai Healthcare City Authority (DHCA), and Dubai Science Park (DSP) in addition to Dubai FDI. Speakers explained how a steadily growing population and a strategic focus on medical tourism makes Dubai attractive for healthcare investment. Opportunities include Centers of Excellence in specializations such as cardiology, neurology, and rehabilitation. The production of generic pharmaceuticals; the production, sales, and service of medical devices; and medical education continue to be areas of focus for investment in Dubai.

The webinar on logistics had representatives from Dubai South, Dubai Airport Free Zone Authority (DAFZA), Jebel Ali Free Zone Authority (JAFZA), and Emirates SkyCargo joining Dubai FDI. Dubai is home to the Jebel Ali Port, the 10th largest container port globally, and the world’s busiest airport for international passengers, supported by one of the world’s largest airline networks – Emirates, with over 150 global destinations. The webinar heard how Dubai continues to strengthen this foundational sector with an ultra-modern highway system connecting neighbouring countries, along with climate-controlled, 3PL warehousing facilities.

Representatives from Dubai Municipality (DM), Jebel Ali Free Zone Authority (JAFZA), and Dubai MultiCommodities Center (DMCC)joined Dubai FDI at the webinar on the food and agribusiness sector. Dubai’s focus on developing a robust food and agriculture ecosystem has proven to be an effective counter to potential international supply chain disruptions. As a major re-export center, Dubai maintains excellent facilities for fresh produce, and continues to focus on strategically targeted investments and policies to strengthen the ecosystem. Research and development of agricultural technologies that offer a variety of crops and yields continues to be an area of focus.

The Dubai International Financial Center (DIFC), Dubai Future Foundation (DFF), and Smart Dubailined up alongside Dubai FDI at the webinar on opportunities in Dubai’s technology sector, moderated by Ali Hirji, the lead researcher in Artificial Intelligence and Cyber Security at Canada’s Durham College. The Government of Ontario, Canada, also participated in the programme, emphasising the importance of the UAE market in the sector. As a prime mover in implementing the emerging technologies of the Fourth Industrial Revolution (4IR) and incubating high-technology start-ups, Dubai is one of the first in the world to utilise the benefits of Artificial Intelligence, robotics and machine learning, Blockchain, financial technologies (fintech) and HealthIT. Along with these, Dubai is also focusing on 3D printing, cybersecurity, and geographic information systems (GIS).

From the FDI perspective, Dubai continues to attract high-quality investment. As a leading global FDI destination, Dubai recorded exceptional growth in FDI during the first six months of 2020, with 190 projects worth USD 3.27 billion, according to data from Dubai FDI Monitor, which uses the Organisation for Economic Cooperation and Development (OECD) methodology to track FDI data.

This period also witnessed a 53 percent increase in medium and high technology investments in comparison to the first six months of 2019. This is evidence of the growing recognition among global investors that Dubai is an ideal city in which to make technology-related investments.