DUBAI: Leading business entities of Dubai in trade and investment, real estate and startup development comprising more than 80 companies visited India recently as part of a delegation led by Dubai Investment Development Agency (Dubai FDI), the investment development agency of Dubai Economy (DED) and organised by key partner Musthafa & Almana. The delegation held seminars and meetings in Bengaluru and Chennai, in line with Dubai FDI’s investment promotion mission aimed at strengthening economic and investment collaboration with strategic cities around the world.
India is one of UAE’s strongest economic partners with huge investments from both parties. In 2018, Indian investors have accumulated 31 FDI projects launched in Dubai with a total of Dhs3.71 billion in capital. This makes India the second largest investor in Dubai in terms of FDI capital and the fourth largest in terms of projects during the first nine months of the year.
Ibrahim Hussain Ahli, Director of Investment Promotion Department, Dubai FDI, said: “Dubai maintains a steady and long-standing trade and economic relations with India, especially in booming cities such as Bengaluru and Chennai. Visiting these major economic hubs is part of our continuing efforts to promote other sectors where investing partners can explore new growth opportunities and how to effectively take advantage of them in an easy and facilitative manner, especially with the upcoming Expo 2020, the robust property market, and the growing prominence of the emirate as a global hub conducive for startups and entrepreneurs.”
Ahli added: “India’s investment performance in Dubai is reflective of its sustained interest and confidence in the emirate’s capability to provide a business environment that will allow for its capital to grow and expand to other leading markets. We are confident that this visit will further boost India’s leading position as a major investor in Dubai.”
Khalid Sharaf, Head of International Business Engagement at Expo 2020 Dubai, said: “The UAE has a long and rich history of partnership and friendship with India. For decades, the UAE’s economic, political and cultural links with India have matured and are multi-dimensional.”