Dubai, 8 October 2020 – A series of of webinars to connect with potential investors and partners from Japan has been started by The Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, they also intend to highlight opportunities in the critical sectors of healthcare, food and agribusiness, and technology sectors in Dubai.
The webinars, focused on Dubai FDI’s virtual engagement strategy for 2020, aim to make sure relevant stakeholders are able to continue exploring and promoting investment opportunities at a time when in-person trade missions are affected by the COVID – 19 pandemic.
CEO of Dubai FDI, Fahad Al Gergawi, said: “Japan and the UAE historically have a strong trading partnership spanning many years. This has become deeper and more robust after the launch of the UAE’s Amal (Hope) probe to Mars from Japan’s Tanegashima Space Center on 20 July 2020.”
Fahad Al Gergawi, Chief Executive Officer, Dubai FDI further mentioned: “The total value of non-oil trade between the two countries has surpassed USD 145 billion in the 11 years between 2009 and 2019, demonstrating the strength of the partnership. This is also evident in the fact that there are more than 10,000 Japanese companies, agencies, and brands operating in the UAE.”
From 2015 to 2019 in the five-year period, Japanese projects brought an estimated foreign direct investment (FDI) worth AED 1.04 billion into Dubai, according to data from the Dubai FDI Monitor. In 2019, FDI inflows into Dubai from Japan increased by more than 171 per cent over the previous year.
With the healthcare sector taking the center stage, the virtual outreach, being organized in partnership with the Japan External Trade Organization (JETRO), kicked off on 02 September 2020,. A webinar on the food and agribusiness sector was held on the 6th of October 2020 and the technology sector outreach will follow on the 4th of November 2020.
“Regular dialogue between the leaders of the UAE and Japan, supported by strategic initiatives and trade missions, has strengthened the bilateral relationship over the years. Exploring new opportunities via webinars gives impetus to our existing long-term partnership.” Said Muna Almaeeni, Deputy Head of the UAE Mission to Tokyo.
The healthcare webinar witnessed representation from Dubai Health Authority (DHA) and Dubai Healthcare City Authority (DHCA) as well as Dubai FDI. Dubai’s steadily growing population and special interest on medical tourism makes it an attractive investment destination. Opportunities include Centers of Excellence in specialisations such as cardiology, neurology, and rehabilitation. Other focus are includes the production of generic pharmaceuticals and the production, sales, and service of medical devices will also continue to be areas of focus for investment in Dubai.
Dubai Municipality (DM) and Jebel Ali Free Zone Authority (Jafza) joined Dubai FDI at the webinar on the food and agriculture sector. Dubai worked on a robust food and agriculture ecosystem as an effective counter to potential international supply chain disruptions. Targeted investments and policies make sure that Dubai further strengthens this ecosystem. Dubai maintains excellent facilities for fresh produce as a major re-export center. Dubai focusing on research and development and on agricultural technologies that offer a variety of crops and yields is also intended to cater for the needs of a growing population.
Participation from Dubai Future Foundation (DFF) and Smart Dubai will be front and centre, alongside Dubai FDI, at the technology sector webinar. As a primary player 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 utilize the benefits of Artificial Intelligence (AI), robotics and machine learning, blockchain, financial technologies (fintech) and HealthIT. Working parallelly, Dubai is also focusing on 3-D printing, cybersecurity, and geographic information systems (GIS).
Medium and high technology investments held a major share for 53% of FDI attracted by Dubai in H1 2020, underlining a growing recognition among global investors that Dubai is the ideal place for technology-related investments.
News Source: www.mediaoffice.ae
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