THE LOCAL ADVANTAGE
TBY talks to Fahad Al Gergawi, CEO of Dubai FDI, on the advantages of doing business in Dubai, sustainable investment, and being ready for the future.
BIOGRAPHY
Fahad Al Gergawi has been the CEO of Dubai FDI since 2008. Prior to joining Dubai FDI, Al Gergawi held senior posts with Dubai World Trade Center, Dubai Chamber of Commerce, and Dubai Holding’s Dubai Properties Group, where he led trade, industrial, and business development activities successfully. Al Gergawi holds a bachelor’s degree from the United Arab Emirates University. He is an inaugural graduate of the elite Mohammed Bin Rashid Al Maktoum program for Young Business Leaders and a member of young Arab Leaders Foundation UAE chapter.Dubai continued to lead the region in attracting FDI and climbed up in global FDI destination rankings in 2016. What is the outlook for FDI inflows to Dubai in the current global business environment?
FDI plays a vital role in strengthening Dubai's economic sustainability and competitiveness. We remain positive about the outlook for FDI inflows to Dubai in the coming years thanks to high investor confidence and the Dubai Plan 2021, which is transforming Dubai into one of the smartest and most sustainable cities in the world. In 2016, Dubai ranked third globally, after London and Singapore, in the number of FDI projects, which is a clear indicator of a strong diversified economic growth. Dubai managed as well to maintain its leading position in the region and ranked seventh in FDI capital inflows despite the challenging global economic environment. Moreover, in a few years Dubai will host Expo 2020. The mega event has already created new opportunities for both leading global businesses and SMEs to be partners in infrastructure development and service delivery.
The bankruptcy law has now been implemented and will presumably boost Dubai's Ease of Doing Business ranking. How does the entity envisage that this will affect the flows of FDI?
There is no doubt that improved regulations address investor concerns and indicate maturity and an improved confidence in Dubai's business environment. Dubai has established clear FDI policy leadership and continues to lead with modern regulatory frameworks to keep pace with the economic shifts and new business models. We see a positive impact on FDI flows moving forward, as we work in close partnership with private sector leaders to introduce new future-ready policy levers and create new opportunities for investors and entrepreneurs.
Dubai FDI launched Dubai FDI Monitor in 2016. How is accuracy being maintained when investments are taking a more unorthodox form; for instance, with freelance visas, emerging sectors becoming more prominent, and companies based upon intangible assets?
Dubai FDI Monitor maps out the investment landscape in Dubai through tracking, validating, and analyzing FDI flows as part of Dubai FDI's data analytics and foresight program. This is the first-ever FDI monitor at a city level and the feedback on the reporting service has been extremely positive. As a service to foreign investors, we support decision-makers who will now be able to analyze FDI trends and opportunities in Dubai by sector, geographic clusters, and source countries. The FDI results and trend analysis reports are based on international classification standards (NACIS) and fDi Markets data as well as our tracking technology and database. We take reasonable steps to ensure that the service provided is accurate and current, taking into consideration that the data is updated in real time. As part of our continual improvement process we are now tracking M&As and new forms of investment, which both reflect the economic maturity of the domestic economic base and allow us to monitor FDI activities of joint ventures, strategic partnerships, alliances, sub-contracting, and license arrangements.
Dubai has been moving up the Global Innovation Index and now ranks as the most innovative Arab nation. Which sources and channels of FDI have been particularly pivotal in assisting that move?
The UAE National Agenda 2021 is set to drive the knowledge economy contribution to reach 5% of GDP. The UAE Innovation Strategy and the Higher Policy for Science, Technology and Innovation played an important role in galvanizing efforts at the federal and local levels to climb up on the Global Innovation Index ranking. Major global players in the financial and ICT industries today choose Dubai as a regional innovation center. FDI in R&D activities in Dubai was 1% of total capital flows in 2015 and it has improved dramatically to reach 5% in 2016.
THE LOCAL ADVANTAGE
TABLE OF CONTENTS
Inside Perspective
Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister, UAE
Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on the Smart Dubai Happiness Agenda, the standout projects over the last year, and the Year of Giving.
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Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler , Sharjah
Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler of Sharjah, has been instrumental in the growth and development of Sharjah, with his passion for academia a driving force in the growth of the knowledge economy.
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Sheikh Saud Bin Saqr Al Qasimi, , Member of the Federal Supreme Council and Ruler , Ras Al Khaimah
Sheikh Saud Bin Saqr Al Qasimi, Member of the Federal Supreme Council and Ruler of Ras Al Khaimah, on what makes the Emirate such a great place to visit, do business, and invest.
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Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince, Ras Al Khaimah
TBY talks to Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, on the fundamentals behind the Emirate's strong growth and the work that goes into improving the economic outlook for the next generation.
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Christer Viktorsson, Directing General, Federal Authority for Nuclear Regulation (FANR)
TBY talks to Christer Viktorsson, Director General of the Federal Authority for Nuclear Regulation (FANR), on the role of the institution in advancing the nuclear energy regulatory environment, the Barakah Power Plant, and the importance of an integrated network.
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Saif Mohammed Al Suwaidi, Directing General, UAE General Civil Aviation Authority (GCAA)
TBY talks to Saif Mohammed Al Suwaidi, Director General of UAE General Civil Aviation Authority (GCAA), on opportunities in the sector and GCAA's contributions to the development of aviation in Abu Dhabi.
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Dr. Eng. Mohammed Nasser Al Ahbabi, Director General, UAE Space Agency
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Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy , UAE
TBY talks to Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy of the UAE, on the value of creativity, the development of the industrial sector, and supporting SME development.
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Mansour Al Mansoori, Directing General, National Media Council (NMC)
TBY talks to Mansour Al Mansoori, Director General of the National Media Council (NMC), on the changing nature of media consumption in the UAE, developing local content, and improving literacy in the Emirates.
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Khalifa Bin Salem Al Mansouri, , Undersecretary of the Department , Economic Development – Abu Dhabi (ADDED)
TBY talks to Khalifa Bin Salem Al Mansouri, Undersecretary of the Department of Economic Development – Abu Dhabi (ADDED), on its plans to make the Emirate a better place to do business, the new industrial plan, and how it is fostering innovation.
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Khaldoon Khalifa Al Mubarak, Group CEO & Managing Director, Mubadala Investment Company
TBY talks to Khaldoon Khalifa Al Mubarak, Group CEO & Managing Director of Mubadala Investment Company, on how the merging of two key investment entities will drive Abu Dhabi's diversification strategy.
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Dr. Sultan Al Jaber, CEO, Abu Dhabi National Oil Company (ADNOC Group)
TBY talks to Dr. Sultan Al Jaber, CEO of Abu Dhabi National Oil Company (ADNOC Group), on the significance of ADNOC Distribution's listing on ADX, investing in downstream, and the importance of strategic partnerships.
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Maryam Eid AlMheiri, CEO, Media Zone Authority – Abu Dhabi & twofour54
TBY talks to Maryam Eid AlMheiri, CEO of the Media Zone Authority – Abu Dhabi & twofour54, on the growth and development of the Emirate as a media and film production hub, and the Emirati values she hopes to spread during the “Year of Zayed."
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Laurent A. Voivenel, Senior Vice President Operations and Development for the Middle East, India, and Africa, Swiss-Belhotel International
TBY talks to Laurent A. Voivenel, Senior Vice President Operations and Development for the Middle East, India, and Africa, Swiss-Belhotel International, on the sector.
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Hamad Buamim, President & CEO, Dubai Chamber of Commerce & Industry
TBY talks to Hamad Buamim, President & CEO of Dubai Chamber of Commerce & Industry, on boosting trade with Latin America, digitizing government services, and capitalizing on the China-Pakistan Economic Corridor.
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Sami Al Qamzi, Directing General, Department of Economic Development (DED)
TBY talks to Sami Al Qamzi, Director General of the Department of Economic Development (DED), on transforming Dubai into a smart economy, creating the happiest city in the world, and securing a knowledge-based economy for the future.
read articleFocus: Global reach of DP World
A Whole New World
The familiar strategy of strong centralized leadership coupled with copious capital reserves and an aggressive acquisition strategy has lead DP World to global recognition within two decades. Today, the company's global positioning can be used as a tool for developing infrastructure in high-growth markets for the larger benefit of UAE investment and trade.
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Sheikh Ahmed bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Sheikh Ahmed bin Saqr Al Qasimi, Chairman of Ras Al Khaimah Economic Zone (RAKEZ), on the establishment of the economic zone, the benefits of operating in the zone, and attracting international clients.
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Ramy Jallad, Group CEO , Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), RAK Free Trade Zone (RAK FTZ), and RAK Investment Authority (RAKIA), on the Emirate's comfortable position within the GCC, increasing investment, and upcoming projects.
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Sheikha Bodour bint Sultan Al Qasimi, Chairperson , Sharjah Investment and Development Authority (Shurooq)
TBY talks to Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), on the principles guiding Sharjah's economic development strategy, opportunities for private sector contribution, and the role of entrepreneurship in the Emirate.
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Sultan Abdullah bin Hadda Al Suwaidi, Chairman, Sharjah Economic Development Department (SEDD)
TBY talks to Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Sharjah Economic Development Department (SEDD), on attracting FDI and optimizing customer satisfaction to support Sharjah's economic growth.
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Sheikh Khalid bin Rashid Al Mua’lla, Chairman, UAQ FTZ
TBY talks to Sheikh Khalid bin Rashid Al Mua'lla, Chairman of UAQ FTZ, on enacting the most investor-friendly set up processes, providing the right world-class amenities for long-term growth, and serving as a great impetus for industrial diversification.
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Saeed Nasser Al Talay, Chairman, Umm Al Quwain Chamber of Commerce and Industry
TBY talks to Saeed Nasser Al Talay, Chairman of Umm Al Quwain Chamber of Commerce and Industry, on the biggest land investment opportunities, boosting investment in IT and construction, and on best PPP collaboration practices.
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Ali Eissa Alnuami, Directing General, Department of Economic Development-Ajman (DED-Ajman)
TBY talks to Ali Eissa Alnuami, Director General of the Department of Economic Development-Ajman (DED-Ajman), on increasing investor happiness, enhancing consumer rights, and treating foreigners like locals.
read articleFocus: Maritime Infrastructure
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Dr. Thumbay Moideen, Founder & President, Thumbay
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Mohammed O. Bin Majed Al Aleeli, Managing Director, Fujairah Department of Industry and Economy
TBY talks to Mohammed O. Bin Majed Al Aleeli, Managing Director of Fujairah Department of Industry and Economy, on supporting economic development, advancing oil transport services, and advising SMEs to draw attention to Fujairah.
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Khalid Mohammed Al Jassim, Directing General, Fujairah Chamber of Commerce and Industry
TBY talks to Khalid Mohammed Al Jassim, Director General of Fujairah Chamber of Commerce and Industry, on facilitation of domestic and foreign business relations, Fujairah's advantages as an emirate, and opportunities for diversification.
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Dr. Salem Abdu Khalil Mohamed Al Zyni,, Technical Advisor , Fujairah at Fujairah Oil Terminals
TBY talks to Dr. Salem Abdu Khalil Mohamed Al Zyni, Technical Advisor for the government of Fujairah at Fujairah Oil Terminals, on getting vessels to switch from offshore to onshore, the cyclical nature of the industry, and staying one step ahead of clients' needs.
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