DUBAI: Dubai FDI, the investment development agency of the Department of Economic Development (DED) in Dubai, has announced that it is all set for its next investment mission to Houston in the state of Texas and Denver in Colorado.
FDI capital inflow from the United States to the emirate has reached to AED14 billion in 2018, making it the largest foreign investor during the same year, based on latest data from the Dubai FDI Monitor.
The mission will take place from September 7, 2019 and will end on September 14, 2019, as a part of Dubai’s Global Mission Program.
It also reported that the total number of US investment projects in Dubai has reached to 119 in 2018, reinforcing the US position in the lead in terms of the total number of FDI and FDI capital.
The accommodation and food services sector led the top five sectors for US investors in terms of FDI projects in 2018, followed by retail and wholesale trade, administration and support services, software publishers, and management of companies and enterprises.
The delegates will conduct meetings with both government and private sector organizations, in addition to three knowledge-based seminars to discuss investment opportunities in the emirate and emphasize that Dubai is a preferred global destination for foreign direct investment (FDI).
The mission will focus on identifying Dubai’s strategic advantages and potential US investors on the emirate’s growth opportunities to enable them to generate high returns when investing and expanding into regional and global markets from Dubai.
The delegation will be headed by Fahad Al Gergawi (seen in the picture), CEO of Dubai FDI. Al Gergawi said the mission to the US demonstrates Dubai strong capabilities as an ideal investment hub and gateway for American companies.
The contingent from Dubai, which is renowned for its business-friendly environment, will take advantage of the opportunity to strengthen further the investment and trade relations between the UAE and the US.
“We will achieve this by engaging with the government concerned and private sector organizations and discussing collaborative efforts as we work towards advancing our mutually beneficial initiatives and interests,” Al Gergawi said.
The global investment promotion mission plan to the two states follows the steady growth of FDI capital inflows from the US to Dubai.