Conferences and exhibitions (31)
Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum - Annual Investment Meeting opens today
09 Apr 2019 Written by Admin SAE(العربية)
Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum and presence of HH Sheikh Saif bin Zayed Al Nahyan - Annual Investment Meeting opens today
- 4 presidents, 1 Deputy president and 40 ministers attend the event
- In opening speech, Minister of Infrastructure Development stated that the UAE continues to rank first in the region in terms of FDI inflows, which in 2018 amounted to USD 10.4 billion
- International Monetary Fund (IMF) maintains positive economic forecasts in the UAE as the country's GDP growth is estimated at 3.7 per cent this year
- IMF estimates that the world economy will continue to grow in 2019 by 3.5 per cent
Dubai, United Arab Emirates, 8th of April 2019: Under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai and in the presence of HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, the Annual Investment Meeting (AIM) 2019 opens today. The 9th edition of the world’s biggest platform for foreign direct investment (FDI) will run until 10th of April in Dubai under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’.
The event also witnessed the presence of 4 presidents, 1 Deputy president and 40 ministers including H.E. Evo Morales, President, Plurinational State of Bolivia; H.E Muhammadu Buhari, President, Federal Republic of Nigeria; H.E Rustam Minnikhanov, President of Tatarstan, Russian Federation; H.E. Ramzan Kadyrov, Head of Chechen Republic, Russian Federation and H.E. Huchiev Muslim, Deputy Chairman of Chechen Republic, Russian Federation.
In his opening speech, His Excellency Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Cabinet Member and Minister of Infrastructure Development said, “We are delighted to welcome all of you to the opening ceremony of the ninth edition of the Annual Investment Meeting. The forum, organized by the Ministry of Economy, has become a prominent event on the regional and international arenas as one of the largest investment gatherings in the world. We are honored by the wide global participation in this year's edition, which includes delegations from more than 140 countries from around the world, who have gathered here to jointly explore the latest trends in foreign direct investment, as well as to exchange experiences and knowledge, explore business opportunities, and sign cooperation agreements and partnerships. As this edition of the Meeting coincides with the Year of Tolerance in the UAE, this platform also presents us with another opportunity to emphasize the value of tolerance and its importance in promoting joint efforts that are essential for productive partnerships and development.”
He further stated that the outlook for the future remains optimistic, given the 3.7 per cent global economic growth experienced in 2018 and with the International Monetary Fund estimating that the world economy will continue to grow in 2019 by 3.5 per cent.
“At the national level, the UAE continues to rank first in the region in terms of FDI inflows, which in 2018 amounted to USD 10.4 billion according to the Central Bank of UAE estimates. For the past six consecutive years, the UAE has been leading the Arab countries in the ‘Ease of Doing Business Index.’ IMF maintains positive economic forecasts in this regard, as the country's GDP growth is estimated at 3.7 per cent this year,” added His Excellency Dr. Abdullah bin Mohammed Belhaif Al Nuaimi.
“The UAE has paid great attention to the development of infrastructure and roads, being aware of its importance in promoting investments. The country has also been able to achieve internationally high rankings on global competitiveness indicators in this domain. These include second place in the satisfaction with streets and highways, which constitute one of the best infrastructures in the world. Furthermore, the UAE has accomplished some prestigious achievements through successful partnerships between the public and private sectors in the area of infrastructure projects, reflecting the importance of joint endeavors by both sectors and attracting more investors,” stated His Excellency Dr. Abdullah bin Mohammed Belhaif Al Nuaimi.
According to His Excellency Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, globalization is progressing on new paths. The UAE believes in the importance of technology as a major catalyst for economic growth and has been keen to keep abreast of new trends and their applications in various areas of trade. We strongly believe in the importance of joint efforts in narrowing the digital divide, in order to capitalize on the digital economy.
Participating at the exhibition is Al Ahli Holding Group, a multi-billion-dollar company which has been operating in the UAE for past four decades. The UAE owned company, which is also a family business was the first to introduce the concept of outlet mall in the region as well as bring female gyms to the country.
This edition of AIM also features AIM Startup and Future Cities Show, which are happening in conjunction with the Annual Investment Meeting (AIM) 2019. The latest edition of AIM Startup has over 150 promising startup companies under one roof to help facilitate business interactions and investment partnerships with major investors, business leaders, representatives of international institutions, and government entities. The Future Cities Show, on the other hand, will focus on five leading future city solutions, namely AI, blockchain, smart infrastructure, smart mobility, and sustainability. According to Walid Farghal, the event unites leaders from various industries to interact, discuss, and showcase top-notch solutions for a smart sustainable future.
Over 20,000+ corporate leaders, policy makers, businessmen, regional and international investors, entrepreneurs, leading academics, experts, and stakeholders from over 140+ countries from Europe, North America, Latin America, Africa, Middle East, and Asia are participating in the three-day event. The prestigious gathering this year will run under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’.
It has been noted that the digital technologies particularly, artificial intelligence, renewable energy and other disruptive technology are all major and initiatives for FDIs. The UAE has a potential to increase 3.7 to 10.8 trillion mobile networks by 2025, where AI adoption will account for 45 percent of the total.
“Policy makers worldwide are looking for ways to inject new energy to FDI flows given that international investments play a vital role in sustainable development of many states, especially for developing countries. Amidst these challenges, it is imperative that we continue our dialogues to come up with the best solutions. International leaders and decision makers from the government and private sectors are present in this year’s event to tackle these challenges as well as key opportunities that we can optimize,” said Dawood Al Shezawi, CEO of Annual Investment Organizing Committee, adding:
In the UAE, which has embarked on intensive digital transformation efforts, FDIs play a visible role in the country’s economic diversification strategy and preparation for a post-oil future. The government has implemented key policies and programs to attract foreign investors according to UAE Vision 2021. These efforts have yielded positive results amidst growing confidence of the international community in the Arab nation.
AIM is an initiative of the Ministry under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. The event’s opening ceremony was also graced by high-ranking officials and executives from the government and private sectors.
Nigerian President Muhammadu Buhari to meet with global investors at Annual Investment Meeting 2019 in Dubai
09 Apr 2019 Written by Admin SAE
Nigeria is one of over 140 countries attending the global FDI event
Nigerian President Muhammadu Buhari will attend the 9th edition of the Annual Investment Meeting (AIM) in Dubai to woo international investors and boost its foreign direct investment (FDI) inflow level.
President Buhari’s participation will come at a time when Nigeria is intensifying its efforts to diversify its economy to reduce its reliance on oil. Attracting quality FDIs is seen to play a critical part in its diversification initiatives. In the first three months of 2019, the Central Bank of Nigeria revealed that the country’s FDI reached USD 6 billion despite numerous economic headwinds.
“President Buhari is expected to meet with his fellow heads of states and investors to showcase key investment prospects in his country. These meetings can take place during the event’s bilateral meetings. Investors from all over the world will gather in Dubai for the event, thus opening up opportunities to build major business partnerships and seal agreements in line with the sustainable socio-economic development agenda of the Nigerian Government.” Dawood Al Shezawi, CEO of Annual Investment Organizing Committee, said.
The President, who will deliver a keynote address, is one of the guests of honor invited to the investment meeting by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. Nigeria is one of the more than 140 nations attending the congress.
The 9th edition, the latest of the world’s biggest platform for FDI, will kick off tomorrow, 8th of April, and will run until 10th of April. More than 20,300 global participants, including heads of states, ministers, and business leaders, will gather to tackle the most pressing challenges influencing worldwide investments.
This year’s theme of ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’ will focus on the impact of Industry 4.0, smart cities, sustainable economic practices, renewables, and startups on international investments and trade. The theme is anchored on the fact that game-changing digital innovations play a visible role in attracting foreign investors.
To be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, AIM 2019 is an initiative of the UAE Ministry of Economy.
UAE Backs China’s One Belt One Road Initiative at Annual Investment Meeting
09 Apr 2019 Written by Admin SAE
(العربية)
His Excellency Abdulla Al Saleh, Undersecretary for Foreign Trade Ministry of Economy
UAE stated,“Trade activities to amount to $ 33 billion dollars between the UAE and China.”
The UAE is set to play a big role in China’s One Belt and One Road Project, as stated on the sidelines of Annual Investment Meeting (AIM), which runs until the 10th of April in Dubai. The 9th edition of AIM brought to focus several investments and projects associated with the initiative.
His Excellency Abdulla Al Saleh, Undersecretary for Foreign Trade, UAE Ministry of Economy said, “The UAE is proud to host this forum as a testament of our strong economic and trade ties with China. The trade between two countries have been growing each year. We anticipate trade activities to amount to $ 33 billion dollars between the UAE and China. The UAE is an important trading partnerfor China. In addition, both the countries have severalstrategic partnerships in place to promote scientific research and renewable energy and water, and this cooperation is set to expand the mutual trade between the UAE and China. In addition, strategic partnership has been strengthened through signing of 13 MOUs between the UAE and China. This forum will not only help us exchange ideas, but also help us integratesustainable trade and investment partnerships.”
Yi Zhang, Deputy Secretary General, China Chamber of International Commerce (CCOIC) said, “The OBOR is a great achievement for us. This forum will become the core platform for us to share our ideas and development policies. China and the Arab states have good and friendly relations and the OBOR initiative will catapult this relationship to a new level. There are lot of projects announced in OBOR. CCOIC is aimed at promoting business investments all over the world. It is one of the biggest China commerce federation so far. We are confident that the activities held in UAE will be promoted well and through OBOR we will scale thetrade opportunities between China and the UAE.”
A McKinsey Global Institute Report found that globally, there is a need to invest an average of US$3.3 trillion annually in economic infrastructure in order to support currently expected rates of growth through to 2030. Emerging economies are projected to account for some 60 percent of that need.
Highlighting the importance of OBOR, Dr. Mukhisa Kituyi, Secretary General, United Nations Conference on Trade and Development (UNCTAD), Switzerland said, “OBOR is a great initiative. This model has led to the rise of investment in infrastructure development in China and Chinese infrastructure projects overseas. However, building capacity for economic activity goes beyond infrastructure. We need to understand the business models that have worked in China and move up the value chains by converting trade relations into global engagement.”
The Belt & Road Initiative is a $900 billion policy initiated by the Chinese government to build on ancient trade routes from China through central Asia by rail (Belt) and to Africa and beyond by sea (Road). The initiative covers 69 countries which make up 60 percent of the world's population and 40 percent of global gross domestic product (GDP), according to a report released by Knight Frank.
Raymond Yip, Deputy Executive Director, Hong Kong Trade Development Council (HKTDC) said, “Dubai continues to forge closer business ties with Hong Kong (HK) and our motherland China. HKTDC is the office trade promotion organization of the HK government which is maintaining an office in UAE from the early 70s. We have good faith and confidence in the country as we achieve milestones in very short time.”
Underscoring the importance of OBOR initiative, H.E. Marwan bin Jassim Al Sarkal, Executive Chairman, Sharjah Investment & Development Authority Shurooq stated UAE’s important position in developing trade and business in the region. He also outlined Sharjah’s role in boosting the economic growth being an important investment destination for Chinese investors.
Focusing on key projects across technology, renewable energy, and food and agriculture, the One Belt, One Road Initiative forum at AIM brought to focus several important highlights of the initiative.
UAE ranks first in the region representing 36 percent of the total FDI flow to the Arab countries
09 Apr 2019 Written by Admin SAE
Dubai all set for opening of Annual Investment Meeting 2019 tomorrow
H.E. Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy stated that the UAE has maintained its position as a regional and international destination for foreign direct investment, ranking first among the Arab countries to attract Foreign Direct Investments (FDIs) since past five years. The country attracted about 10.35 billion dollars in 2017, representing 36 percent of the total FDI flow to the Arab countries.
These figures were released by the UAE Ministry of Economy in conjunction with Annual Investment Meeting (AIM), the world’s biggest platform for FDI, which will kick off tomorrow (April 8, 2019, Monday) in Dubai, where more 20,000+ corporate leaders, policy makers, businessmen, regional and international investors, entrepreneurs, leading academics, experts, and stakeholders from over 140+ countries from Europe, North America, Latin America, Africa, Middle East, and Asia are participating in the three-day event. The prestigious gathering this year will run under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’.
According to H.E. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, the UAE has maintained its second rank among West Asian countries in the past five years, attracting about 10.35 billion dollars in 2017 and accounting for 40.6 percent of total foreign direct investment flow into the West Asia region.
One of the key sectors that have seen an uptick in FDIs include wholesale and retail trade. The total foreign direct investment in this sector amounted to about 29.8 billion dollars, with a contribution of 24.9 percent of the total foreign direct investment in the UAE. In addition, real estate has also been instrumental in drawing FDIS. FDIs in this sector amounted to nearly 28.4 billion dollars, with total foreign direct investment amounting to 23.8% in the UAE.
Financial and insurance activities amounted to 23 billion dollars, with total foreign direct investment contributing to around 19.3 percent in the UAE. Similarly, manufacturing industries, where the foreign direct investment amounted to about 10.9 billion dollars, witnessed a contribution of 9.2 percent of total foreign direct investment in the UAE. The Mining and Quarrying Sector had FDIs worth 10.5 billion dollars, with 8.8% of total foreign direct investment in the UAE.
“With the UAE adopting the best policies and economic trends to keep abreast of changes, the country is all set consolidate its position as a global destination for money and business. The UAE has recently launched a series of initiatives to stimulate economic growth, which have been aimed at strengthening efforts to attract foreign direct investment, raise financial and economic efficiency, stimulate investment, stimulate local production, improve the business environment and make it more efficient and attractive. Some of the most important initiatives include the issuance of new foreign investment law, granting investors ten-year residence visas for themselves and all members of their families, granting ten-year residence visas for specialized competencies including medical, scientific, research and technical fields and granting 100 percent foreign ownership in technology, outer space, renewable energy and artificial intelligence, among other sectors under consideration. In addition, the UAE is engaged in attracting quality investments that serve its development objectives and add value to the national economy in a number of vital sectors including energy, mining, manufacturing, infrastructure, logistics, agriculture, business, tourism, hospitality, real estate, ICT, banking, finance, advisory services and other investment sectors,” said H.E. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy.
The investment environment in the UAE is characterized by stability, modern infrastructure, efficient economic policy and advanced economic legislation. The country enjoys internal political stability and distinguished international relations with the countries of the world, which makes it a strategic business center that provides access to regional markets. Some of the key features that make the UAE a global investment destination include, easy transfer of profits and revenues without fees, efficient legal systems and policies, organized laws to protect foreign capital (eg intellectual property rights, competition, investment and laws), competent legislative reforms to ensure efficiency, transparency and investor confidence, low tariff between 0 to 5 percent for goods, no income tax, world-class infrastructure, efficient smart government services and several more.
At the upcoming edition of AIM, more than 60 high level officials including heads of state, government ministers, and other top public officials will join prominent global business figures to tackle the most pressing challenges and key opportunities in the midst of exponential digital innovations, technological developments, and influential global trends.
“AIM 2019 is a vital platform to conduct these dialogues and it is opening at a crucial time. For the 9th edition, we are focusing on the impact of Industry technologies, smart cities, sustainable economic practices, renewables, and startups on international investments and trade. This year’s theme is anchored on the fact that game-changing digital innovations play a visible role in attracting foreign investors,” said Dawood Al Shezawi, CEO of Annual Investment Organizing Committee.
To be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, AIM 2019 is an initiative of the UAE Ministry of Economy. This year, The AIM Investment Awards will also be held to recognize the best FDI projects from each region of the world and honor the winning countries’ Investment Promotion Agencies.
Annual Investment Meeting 2019 to host strategic sessions to draw foreign direct investments
09 Apr 2019 Written by Admin SAE
(العربية)
This year the event will witness the presence of 60 high level official
The organizing committee of the Annual Investment Meeting 2019, has completed the preparations for the upcoming event, which will be held from 8th to 10th of April in Dubai. More than 20,000+ corporate leaders, policy makers, businessmen, regional and international investors, entrepreneurs, leading academics, experts, and stakeholders from over 140+ countries from Europe, North America, Latin America, Africa, Middle East, and Asia are participating in the three-day event.
Some of the heads of states coming to the event are H.E. Evo Morales, President, Plurinational State of Bolivia; H.E Muhammadu Buhari, President, Federal Republic of Nigeria; H.E Rustam Minnikhanov, President of Tatarstan, Russian Federation; H.E. Ramzan Kadyrov, Head of Chechen Republic, Russian Federation; and H.E. Huchiev Muslim, Deputy Chairman of Chechen Republic, Russian Federation.
More than 60 high level officials including heads of state, government ministers, and other top public officials will join prominent global business figures, over 1,000 FDI experts, and representatives of Chambers of Commerce and Industry and business councils. They are set to tackle the most pressing challenges and key opportunities in the midst of exponential digital innovations, technological developments, and influential global trends.
H.E Mr. Fareedon Hartoqa the Secretary General of the Jordan Investment Commission (JIC), said, “We in Jordan, and at the Jordan Investment Commission (JIC), are committed to working with investors and businesses to facilitate their work in Jordan and maintain strong mutually beneficial relationships with those entities. JIC continues its determination on leveraging Jordan’s strengths. Our position in the heart of the Levant makes us a strategic platform to the GCC and MENA region. It also makes us an ideal global East-West hub. Our Free Trade agreements give us access to over one billion consumers. Jordan offers the ideal destination when looking for a manufacturing base, outsourcing center, distribution and back office operations. Jordan also could serve as a base for infrastructure and reconstruction projects in our region.”
A delegation from Bolivia will also participate at AIM. Widely regarded as the country's first president to come from the indigenous population, this is the first time any president from Bolivia has made it to the UAE. H.E. Evo Morales, President, Plurinational State of Bolivia, stated that Plurinational State of Bolivia intends to promote greater FDI such that at least 40 percent of Foreign Direct Investment contributes to diversify the productive matrix of the country and generates added value (productive industrial complexes, services and tourism) through partnerships in mixed state companies, in alliance with the central level of the State and Autonomous Territorial Entities. The Bolivian perspective aims to encourage foreign investors in a way that they become strategic partners and not owners of natural resources and surpluses. The country’s goal is that FDI should respect the country’s sovereignty, mother earth and the profits in the territory should be converted to strengthen the model of living well.
In addition, a delegation from Kingdom of Bhutan will also participate at the event. According to H.E. Lyonpo Loknath Sharma, Minister of Economic Affairs, Kingdom of Bhutan, the number of FDI projects approved in the year 2018 has more than doubled from the number in 2017. A total of 16 projects were approved in 2018 against just seven in 2017.
The Kingdom of Saudi Arabia, which has just recently formulated an open economy policy, gains a strategic move participating at AIM 2019. “We saw growth in both FDI inflows, which were 127 percent higher in 2018 than in 2017, and in the number of new licenses awarded. 739 new licenses were awarded in 2018, an increase of 96 percent on the previous year. This momentum has continued in 2019, with broad based growth across all sectors and geographies. The Saudi Arabian economy is undergoing a period of rapid transformation, and this is creating new opportunities for the private sector and international investors. Through Vision 2030, we have been able to introduce a number of new policies and reforms that are allowing investors to tap into these opportunities in an unprecedented way,” H.E. Majid bin Abdullah Al Qasabi Minister of Commerce and Investment, Kingdom of Saudi Arabia.
Further, with the participation of Brunei Darussalam, AIM 2019 provides an ideal platform to push their economic agenda, specifically on attracting higher FDI this year. “As one of the biggest events on the global FDI calendar, AIM 2019 will provide the perfect platform for Brunei Darussalam to showcase the direct investment and collaboration opportunities, as well as the world class products and services we have to offer. As per revised 2017 figures, Brunei Darussalam recorded a Foreign Direct Investment (FDI) net inflow of BND635.3 million, equivalent to USD 470.37 million. This positive momentum continued into 2018, where a further number of FDI projects came online, particularly in the food sector. We are confident that the global conference will provide useful insights into the latest trends & challenges to enable us to deep dive and further refine our investment promotion strategy,” said H.E. Dr. Mohd Amin Liew Abdullah, Minister of Finance, Brunei Darussalam.
To be held under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization,’ the 9th edition will feature a series of conferences focusing on game-changing technologies that have been dramatically reshaping the nature of industries and business models of investors. It will tackle the profound impact of industry technologies such as artificial intelligence, robotics, big data, and blockchain, smart city solutions, sustainable economic practices, clean and renewable energy, and startups on international investments and trade.
“Trends towards sustainable development are transforming business and societies. This shift provides opportunities to target quality investment in those areas with greatest capacity to foster diversification and support sustainable development. The conversion towards renewable sources of electrical power generation is just one example where FDI and the public policies framework have played a key role,” said Mario Cimoli, Deputy Executive Secretary, Economic Commission for Latin America and the Caribbean (ECLAC), a United Nations regional commission based in Chile.
For his part, UNCTAD Secretary General Dr. Mukhisa Kituyi, said, “Digital development and other technological advances are largely seen as positive factors that will buoy investment. The adoption of digital technologies has the potential to transform the international operations of multinational enterprises (MNEs) and the impact of foreign affiliates on host countries. The impact of digital MNEs on host countries is less directly visible in physical investment and job creation, however, their investments can have important indirect and productivity effects, and contribute to digital development.”
This year’s edition will hold the ‘Global Leaders Debate’ session to tackle the overall theme and deliberate the best practices that warrant the creation of inclusive growth as well as evaluate governments’ legal frameworks and market-friendly policies favoring FDIs and the private sector. The Global Leaders Debate will host sessions titled 'Blockchain, Big Data & AI: Foreseeing the Impact of Digital Economies'; 'Countering the Global Rise of Protectionism Policies for Sustainable Growth'; and 'Investment Promotion Agency Roundtable: Attracting Investments in the 4.0 World'.
An Investors Debate will be staged on the second day along with plenary sessions on 'Family Office Roundtable: Investing in the Future'; 'Small and Medium Enterprise Focus: Strengthening SMEs in a Digitalized World'; 'FDI and Human Capital: The Evolution of Workforce in a Digitally Globalized World'; and 'Regional Focus: Withstanding Headwinds in the Foreign Direct Investment Market'. A special presentation on 'The Future of Work' will be hosted on the same day.
AIM 2019's 'Invest In' series will be held on the third day, focusing on Africa and Latin America and the Caribbean. The 'Invest In: Africa' session will talk about the benefits of the continent's digital transformation, while the 'Invest In: Latin America and the Caribbean' will shed light on how FDI can accelerate the digital transformation of the Latin American production system.
A three-day exhibition will simultaneously be held alongside the conferences. Over 500 exhibitors and co-exhibitors will be part of the exhibition to network, promote industry projects and services, and attract investors to various participating countries. It will also serve as an opportunity for governments and private organizations to launch and promote their projects to a vastly diverse audience.
Additionally, the AIM exhibition will provide participating countries with an opportunity to meet and connect with over 20,000 visitors and 1,000 conference delegates, including industry leaders and key stakeholders from the regional and international community through various networking functions. Some exhibitors include the Hong Kong Trade Development Council (HKTDC); Abu Dhabi Investment Office; ICEX SPAIN; Enterprise Georgia; Croatian Chamber of Economy; Botswana Investment & Trade Centre (BITC); and ANAPI - National Investment Promotion Agency.
Furthermore, participants will have an opportunity to learn more about China’s One Belt, One Road Initiative during a full-day special forum dedicated to the massive trillion-dollar construction project, which will significantly impact the economies of more than 65 countries across Asia, Europe, Africa, and Oceania.
To be held on the second day of the AIM event, the ‘One Belt and One Road Business Cooperation and Development Forum at AIM 2019’ will provide participating high-ranking Chinese officials with an international platform to present the plans for the initiative. In addition, they will brief the business community worldwide with various investment opportunities running around the mega project.
Another highlight of the event is its capacity-building workshops to be facilitated by a faculty of global FDI experts. A small group of 25 registered delegates will have a chance to learn more about FDI trends, projections, and investment promotion strategies, among others.
AIM 2019 will also hold the Country Presentations feature to give participating states a direct access to key decision-makers, government leaders, and investors. Taking part in this feature are 10 countries/investment destinations, including UAE, South Africa, China, Georgia, Italy, the Democratic Republic of Congo, Botswana, Sierra Leone, Cameroon and Indonesia. During the session, they can emphasize important economic features of and investment environment in their respective countries.
Moreover, a special zone called Investors’ Hub will be set up during the meeting for top investment houses and investment corporations, development banks, and Sovereign Wealth Funds representing different countries and covering multiple sectors. This feature will allow investors to meet with official government representatives as well as project developers to discuss the possibility of new ventures and potential partnerships.
As part of AIM’s onsite networking functions, bilateral G2G, G2B, and B2B meetings will be staged for government officials, private sector executives, businessmen, and investors to network, collaborate, and discuss among themselves investment projects and prospective partnerships from different regions. Additionally, the event will hold a rapid networking session for investors to meet with potential partners and introduce business opportunities. This feature is a dedicated platform for exclusive, quick one-on-one meetings offering a networking opportunity through a secured platform.
During the scheduled gala dinner, the AIM Investment Awards will take place to recognize the best FDI projects from each region of the world. Besides the winning countries, the Awards will honor their Investment Promotion Agencies as well for their successful investment promotion strategies and exceptional investment projects.
“The Annual Investment Meeting will be held at a time when we need to ramp up investment activities worldwide as we strive to promote inclusive growth and sustainable development for all nations. Additionally, it is taking place against the backdrop of impressive digital transformation that is clearly influencing the latest FDI trends and developments. All these factors make Dubai the ideal host of AIM 2019 as the emirate and the entire UAE have been at the forefront of digitalization in the region as part of their bid to become one of the world’s preferred investment destinations,” Dawood Al Shezawi, CEO of Annual Investment Organizing Committee.
The UAE as an FDI destination remains ahead of other nations in the Arab region thanks to its strategic location, business-friendly environment, advanced infrastructure, ability to attract highly skilled human resources, and commitment to implement the best industry practices. In 2017, it received 40 percent of the total FDI flows to the Arab world and Western Asian nations. Additionally, in spite of the global FDI slowdown, the country’s FDI flows grew 7.8 percent to reach USD 10.4 billion during the same period.
Investment flows to UAE expected to go up by 20 percent in 2019 due to new FDI law
09 Apr 2019 Written by Admin SAE(عربي)
- Country’s non-oil GDP forecasted to grow 3.4 per cent this year
- High-level UAE representatives to tackle new law at Annual Investment Meeting 2019
The UAE Government’s enactment of the foreign direct investment (FDI) law in 2018 is seen to help accelerate FDI flows by up to 20 percent this year, from the eight percent average growth rate, as per the recent estimates of the Ministry of Economy. The landmark law is predicted to further strengthen the already business-friendly climate in the country.
The new FDI law is going to take a prominent spot in the upcoming global FDI discussions at the Annual Investment Meeting 2019 in Dubai happening from 8th to 10th of April. High-level representatives from the country are expected to present the key provisions of the law before a global audience alongside other factors that make the Emirates a preferred FDI destination in the Arab region.
Apart from its strategic location and business-friendly environment, the UAE’s advanced infrastructure, ability to attract highly skilled human resources, and commitment to implement the best industry practices are being credited for its global appeal to investors “Attracting international investments is critical to the sustainable development of any country, and in the case of the UAE, to its economic diversification strategy. Higher FDIs result in more job opportunities and stronger international ties and can lead to the faster realization of the objectives of both UAE Vision 2021 and UN Sustainable Development Goals 2030. During the event, UAE representatives will showcase investment and growth prospects in the country brought about by the new law and its steady national socio-economic development,” Dawood Al Shezawi, CEO of Annual Investment Organizing Committee.
Under the law, a powerful foreign direct investment unit will be established within the Ministry of Economy. The unit will propose FDI policies, identify priorities, formulate relevant programs, and lead the implementation of the UAE Cabinet-approved proposals. It will also oversee the establishment of comprehensive database for UAE investments as well as assist in the registration and licensing of FDI projects, to name a few. Creating the dedicated unit will reportedly improve the transparency level in the Arab state as well as offer a more accurate picture of the local economy to investors.
“As the country prepares for a post-oil future and continues to transition to a knowledge- and innovation-driven economy, the FDI law is going to be an influential factor that will drive the UAE’s socio-economic growth and development in the 21st century,” Al Shezawi said.
As it is, the outlook on the UAE’s development remains upbeat. The International Monetary Fund has estimated that the country’s real gross domestic product (GDP) will experience a 3.7 per cent increase this year compared with 2.9 per cent in 2018. Non-oil GDP is also forecasted by the Central Bank of the UAE to expand at 3.4 per cent in 2019 compared to 2.6 per cent in 2018.
“At this year’s AIM, we are bringing the discussions deeper by looking into the impact of next-generation technologies such as robotics, artificial intelligence, and blockchain on investment and global trade. As such, the event’s theme, ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization,’ will help direct our dialogues towards adoption of a new way of thinking amidst these digital explosions. The enactment of the new FDI law comes at a time when disruptive technologies are being implemented left and right. AIM 2019 is the best opportunity to study the provisions of the law under this lens,” he concluded.
Besides the main conference, the ninth edition will also feature capacity-building workshops, country presentations, and an exhibition that will be attended by thousands of exhibitors and visitors from across the globe.
(Arabic)
Over 20 speakers to present on investment opportunities in their countries
Al Rajhi Bank, Saudi Arabia’s second largest bank and the world’s largest Islamic bank, reported a growth rate of 8 percent during 2015- 2018, with 8.9 percent increase in operating income and a 27 percent expansion in the number of mortgages in 2018. Additionally, its current accounts grew 6.6 percent in 2018 amid the rising Singapore Interbank Offered Rate (SIBOR) environment, the international benchmark interest rate. The bank has been playing a visible and active role in enticing foreign investors to Saudi Arabia.
The bank made the announcement ahead of the upcoming Annual Investment Meeting (AIM) 2019, the latest edition of the world’s leading platform for FDIs, which will take place in Dubai from 8th to 10th April under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’. Al Rajhi Bank’s Chief Executive Officer, Steve Bertamini, is one of AIM’s conference and workshop speakers this year.
Bertamini pointed to the bank’s robust financial performance, industry standing, and proactive and sustained engagement with regional and global investors as the main catalyst to create investor interest in the Kingdom, which will then generate more foreign direct investments (FDIs).
In addition to Al Rajhi Bank, Annual Investment Meeting (AIM) 2019, will also witness the participation of Mario Cimoli, Deputy Executive Secretary, Economic Commission for Latin America and the Caribbean (ECLAC), Chile.
Latin American economies have shown an uptick in growth and it is estimated that the economy is set to grow by 1.7 percent in 2019. According to ECLAC, medium-size economies are reaching better growth performances, with Colombia, Chile and Peru estimated to grow 2.7, 3.9 and 3.8 percent, respectively. In addition, Central America’s economy is anticipated to grow by an estimated 3.2 percent.
According to Cimoli, an increase in venture capital investments in Latin America as the number of unique global investors in this part of the world more than doubled between 2013 and 2017. Major targeted sectors were financial technology, market places, logistics and distribution, and transportation. Silicon Valley’s largest players were some of the key investors.
At the upcoming Annual Investment Meeting, Dr. Mukhisa Kituyi, Secretary General, United Nations Conference on Trade and Development (UNCTAD), Switzerland, will also underscore the need to make critical investments in digital development strategies and other technological advances.
He stated that foreign investments in developing countries accelerated by 3 percent, reaching a value of USD 694 billion in 2018 and bringing their share of total global flows to 58 percent.
In his opinion, the adoption of digital technologies has the potential to transform the international operations of multinational enterprises (MNEs) and the impact of foreign affiliates on host countries. The impact of digital MNEs on host countries is less directly visible in physical investment and job creation, however, their investments can have important indirect and productivity effects, and contribute to digital development.
Investment in digital development strategies will be among the key topics of discussions at AIM 2019. It is also one of the focused areas of UNCTAD’s World Investment Report on ‘Investment and the Digital Economy,’ which was released to help boost investments in developing countries.
This year’s AIM will witness the presence of over 80 speakers from countries as Brazil, UK, Republic of Tatarstan, Switzerland, Saudi Arabia, Nigeria, Kenya, Ethiopia, UAE, Turkey, Cyprus, Germany, Canada, China, Sweden, France, Ghana, Ukraine, Hong Kong, South Africa, Kuwait, Bahrain, Republic of Namibia, Mauritius, Russia, Italy, Republic of Togo, Sierra Leone, and countries from Latin America. The forum will also witness 20 speakers highlighting potential investment opportunities in their countries.
In addition to countries around the globe, AIM this year will also shed light on the importance of free zones in attracting FDIs. Free zones are now present in more than 80 percent of states in the world, including emerging countries, and comprise nearly 30 percent of global trade. Asia region consists of the largest number of free zones in the world, followed by North America, South America and the Middle East. With 160 free zones (7.3 percent), the Middle East is the fourth largest host region in the world with Dubai comprising of 30 percent of the free zones.
Offering companies benefits as low tax rates, faster procedures, ease of business, quick access to international markets, robust physical and digital infrastructure, vigilant security and seamless regulations, free zones around the world have been the key source of economic growth. With free zones driving the growth of the economy, industry experts suggest that markets as US, European Union, MENA, Asia and Latin America will witness a robust growth in years to come.
To generate more FDIs from the Middle East, meanwhile, the financial institution said it continues to develop Sharia-compliant products, including securitization, supply chain financing and point of sale financing for SMEs. The bank’s Sharia-compliant revolving credit card has been a strong contributor to its growth in net profit margins and fee income.
Complete details of AIM 2019 are available at http://www.aimcongress.com/.
Top representatives from 140 countries to gather in Dubai for Annual Investment Meeting 2019
03 Apr 2019 Written by Admin SAE(العربية)
- Several countries including UAE, South Africa, China, Georgia, Italy, the Democratic Republic of Congo, Mali, Botswana, and Indonesia will present at the forum
- A delegation of 200 officials, investors and businessmen from Libya
- Apart from conferences and forums, event to feature exhibitors from more than 20 countries
Top-level representatives from over 140 countries from Europe, Latin America, Africa, Middle East, and Asia will gather in Dubai next week to take part in this year’s edition of the world’s leading foreign direct investment (FDI) platform, the Annual Investment Meeting (AIM).
Set to take place from 8th to 10th of April 2019 under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization,’ the global event, an initiative of the UAE Ministry of Economy, will host tens of thousands of exhibitors and visitors who will network and exchange expertise with each other and promote a myriad of investment opportunities in their respective states.
“Apart from high-profile conferences and forums, the event will also feature an exhibition to provide governments and private organizations alike with an opportunity to present their relevant programs and projects with the greatest socio-economic impact to a vastly diverse international audience. The interactive exhibition will offer participants as well a rare chance to connect with visitors and conference delegates such as regional and global industry leaders and key stakeholders,” said Dawood Al Shezawi, CEO of Annual Investment Organizing Committee.
Exhibitors from more than 25 countries will showcase their respective mega developments, significant expansion activities in key economic sectors, and prevailing business climate and regulatory environment. The exhibiting countries include Saudi Arabia, Algeria, China, Botswana, Ivory Coast, Ghana, the United Kingdom, Nigeria, Russia, South Africa, the United States, the UAE, India, Ukraine, Seychelles, Somalia, Egypt, Cameroon, Cyprus, Poland, Somaliland, Swaziland, Indonesia, and DR Congo, among others.
Additionally, AIM 2019 will enable participants to showcase the potentials of their respective local sectors to a diverse global audience. This year, several countries including UAE, South Africa, China, Georgia, Italy, the Democratic Republic of Congo, Mali, Botswana, and Indonesia will present at the forum. The presentations will be highly informative emphasizing important economic features and conditions as well as investment data including fascinating details about the investment environment in these countries.
While Sierra Leone's USD 7.96-billion Medium Term National Development Plan will spur immense investment opportunities in key sectors of agriculture, fisheries and marine, education, tourism, and mining over the next five years (2019-2023), Italy will also demonstrate markets opportunities for Capital Raising, Investment and Digital Transformation. It will also present to the audience investment opportunities in Emilia Romagna. The country will also bring to light the largest food park in the world and agrifood logistics in Bologna and shed light on the importance of investing Italy now.
This edition of AIM will also witness the presence of a delegation of 200 officials, investors and businessmen from Libya who will highlight how Libya is evolving as a market for expanded socio-economic opportunity, offering a load of benefits for foreign investors.
AIM is held under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. It is considered the largest global investment gathering of corporate leaders, policy makers, businessmen, regional and international investors, entrepreneurs, leading academics, and experts.
Adib Al-Afifi: “AIM Startup 2019 is a great opportunity for investment entities and investors from around the world.”
The National Program for Small and Medium Sized Enterprises and Projects of the Ministry of Economy, held a press conference for the launch of AIM Starup 2019 with the theme “Harnessing Global Digitization to Empower Startups and SMEs” which will be held on 8-10 April 2019 at the Dubai World Trade Centre.
The speakers shed light on the plans and initiatives of the National Program for SMEs and Projects for 2019, which will seek to attract more startups and SMEs to explore investment opportunities that abound in the UAE in various in various fields and sectors.
During the press conference, the agenda for AIM Startup 2019 was also reviewed. The event anticipates the participation of more than 500 startups and SMEs, and over 20,000 visitors, allowing more startups and SMEs to present their ideas to a bigger audience at the forum.
In this regard, Dr. Adeeb Al-Afifi, Director of the National Program for SMEs and Projects, said, “AIM Startup represents this year’s emerging companies in Dubai in a forum that links investment opportunities and investors from around the world. This is a platform where we can showcase the economic developments the UAE has achieved, as well as its economic diversification, which has opened the door even wider for a range of investment opportunities, making it a top destination for investment.”
Al-Afifi also added, “UAE continues its efforts to consolidate its economic position that has made it an ideal global investment destination, and through initiatives such as this forum, UAE strengthens its partnerships and linkages with entrepreneurs and innovators within its SME sector, which plays an important role in the national economy of the UAE.
Al-Afifi also disclosed that the number of registered SMEs has reached 98% of the total registered companies, and 89% of which are into trade and service sector, accounting to 49% contribution to UAE’s non-oil GDP, a fine reflection of the country’s attraction of investment. The total number of SMEs in the country as a whole, and specifically those registered in Dubai, is increasing.
Dawood Al Shezawi, Chairman of the Organizing Committee of AIM Startup also stressed that the UAE has had a timely recognition of the contribution of SMEs to the nation’s GDP, in addition to the size of job opportunities offered by these companies, prompting the government to support projects, investment opportunities, and the development of tools in order to strengthen their capacity on innovation and experimentation, which are fundamental for structural change, through the emergence of SMEs which are equipped with competence and ambition.
“The UAE has provided the ideal environment for SMEs with facilities and incentives, and has developed a number of flexible laws and regulations to make their activity more vibrant, resulting in increased low-capital investments in low-cost businesses. On the competitiveness of SMEs to develop their structures and products through innovation, it allows them to offer quality products and enables them to impose their presence in the markets.”
The Chairman of the Organizing Committee has announced the nomination of 41 startups selected during a roadshow pitch competition held in the region. The selected startups now have the opportunity to come to Dubai with waived registration fee to participate in the final pitch competition in April. Among best innovative minds in entrepreneurship will emerge one winner of the annual competition and will receive $50,000 seed money to support their project.
Winning startups from Hashemite Kingdom of Jordan are Darajtee, 360 Moms, Tarteeb, Takalam, Akyas; from State of Kuwait were Wakoo, E-pill Box, Go Diving, Ideabot, Diabetic Wound Detector; from Oman are Telpay, Zayr, Adeeb Kids, PocketCarage, Fastmovers; from Lebanon are Formidable Industries, Groovy Antoid, Neotic, Lemonade Fashion, Lexyom, Augmental; from Riyadh are Mutamer, Pick Logistics, Maya Clinics, Vigorous Antelope; from Jeddah are Firnas Aero, Bab Makkah, Men wall, Tagit Games, Passioneurs; and from Egypt are Garment IO, Epic VR, WideBot, ZeroPrime Can Waste, and VoXera.
According to Global report, a total of 366 investments were made in startups based in MENA last year, with investment funding of $893 million. The same report also stated that the UAE remains the most active ecosystem, accounting for 30% of all deals and 70% of total funding. Thus, through initiatives such as AIM Startup, SMEs and startups are looking to an even more attractive ecosystem to help the region in achieving the level of investments at par with European or American ecosystem.
The importance of SME sector in the UAE has been formalized under the Federal Law No. 2 of the year 2014, with the establishment of the National Program for SMEs and Projects. Under the umbrella of the Ministry of Economy, it aims to empower entrepreneurs and to develop a general strategy and guidelines aimed at providing the necessary expertise and technical as well as administrative support in various fields in order to promote and develop SMEs. It is also mandated to prepare periodic evaluation as well as to coordinate with federal and local government agencies and the private sector to market enterprising products within the country and internationally.
AIM Startup will host its third edition this year. The annual event has over the years been counting on the continued support of the public and private sector to provide much needed tools in learning and networking platforms for investors and entrepreneurs. On the national level, the support comes from National Program for SMEs and Projects, Sheraa, Sharjah Business Women Council, Khalifa Fund, Dubai South, Wamda, Abu Dhabi Global Market, and many more. From the international level, AIM Startup is highly supported by BIAC, Wadi Makkah, Monshaat, Mohammed bin Salman College and in partnership with Korean Trade Association, Indian SME Chamber, Switzerland’s Solar Impulse Foundation, and Brazil’s Mango Venture.
WAIPA leads AIM 2019 workshops to ensure higher FDI competitiveness
19 Feb 2019 Written by Admin SAEAlong with other investment advisory partners GDP Global, WAVTEQ, and Conway….
WAIPA leads AIM 2019 workshops to ensure higher FDI competitiveness
In anticipation of the 9th edition of Annual Investment Meeting, investment promotion professionals will be offered fresher perspectives on how to attract foreign direct investment as World Association of Investment Promotion Agencies (WAIPA) leads Annual Investement Meeting, AIM workshop on 8-10 April 2019 at the Dubai World Trade Centre. AIM is an initiative of the Ministry of Economy under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai..
The workshop on Trends in Investment Promotion and Their Impact, organized by WAIPA, will be led by Sarah Russis Kraiem, Head of Global Sales, fDi Intelligence. The workshop will cover the rapidly-changing trends within Investment Promotion Agencies (IPAs) and how their growing number of mandates impact their adaptability to remain competitive.
Investment professionals will also unfold opportunities for IPAs to reach their potential amidst the current trends and external influences that may play a crucial part for them to attract investments.
The concept of smart city now goes beyond utilization of smart technology. It compasses the necessary investment to build smart infrastructure. John Hanna, Director of GDP Global, will lead the discussion on How to Create Smart Cities, a workshop organized by GDP Global.
GDP-led workshop will discuss enabling policies and programmes to create competitive smart city regions and the best practices that will place city regions on the global map for trade and investment. Hanna will also discuss the seven economic programmes that smart city regions will have to deliver and how to implement smart city investment.
The third workshop touches closer to home with the topic How to Attract FDI from the Gulf: Investment Opportunities and Best Practices which will include modules on FDI trends and opportunities for Gulf investment overseas, best practices on how to identify and engage with Gulf companies, success case studies from other IPAs, and business culture and how to nurture and build relations with investment decision-makers and close deals.
Said workshop will be led by WAVTEQ and will have the insights from its founder and CEO, Henry Loewendahl with other WAVTEQ experts Ralf Dagenhardt, CEO-Europe Arab Associates, Nisan Abdulkader, Emerging Market Specialist, Chris Knight, Chief Commerical Officer, Daniel Callaghan, Senior VP-EMEA.
The final workshop will touch on the accelerating rate of global change and the challenges it presents to maintain competitive advantage. The workshop, which will be organized by CONWAY, will have the topic The Future of Investment Promotion in an Era of Disruption.
Discussing the Fourth Industrial Revolution and how digitization impacts the future of work, connectivity, political instability, protectionism, and new modes of collaboration will be discussed by Conway VPs-advisory, Douglas van den Berghe and Guillermo Mazier.
Editor’s note:
ABOUT AIM 2019
- Annual Investment Meeting (AIM), the premier event in foreign direct investment in the Middle East and North Africa, holds its 9th edition on April 8-10, 2019 at Dubai World Trade Centre, Dubai, United Arab Emirates.
- Under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’, AIM 2019 addresses the global challenges in the flow of foreign direct investment. The event remains to be the most relevant and the biggest FDI platform in the world.
- Part of its milestone in its previous staging had been putting under one roof 1,000 experts and FDI specialists and 20,000 attendees from over 140 countries, where 1,200 conference delegates benefitted from FDI dealings and strategic networking.
- AIM 2019 is an initiative of the UAE Ministry of Economy and is under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.
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