Business & Economy

Dubai Expo 2020 lures investors to services sector

06 February, 2014

Preparations are in full swing for the 4th Annual Investment Meeting (AIM) at the Dubai International Convention Centre in April, were the spotlight will be on the challenges and opportunities facing investments around the world, and in particular in the region after Dubai announced it will host the Expo2020.
Abdulla Al Saleh, Undersecretary, UAE Ministry of Economy, Foreign Trade Sector said that the fourth edition of AIM to be held on April 8-10, comes at a time when the UAE has moved to the forefront as a key global investment destination.
Al Saleh said that the UAE had become a tier-one investment destination thanks to its conducive business environment backed by its unique features and advantages like its strategic location, logistics infrastructure, high flexibility and increase inflow of foreign investment.
This year’s meeting will focus on ‘Investment Partnerships for Sustainable and Inclusive Growth in Frontier and Emerging Markets,’ with representatives from 165 countries invited to the forum that is expected to attract 10,000 visitors.
Al Saleh said that AIM 2014 comes at a time when global growth is still in low gear and the drivers of growth are shifting, according to the IMF’s latest World Economic Outlook. The IMF had forecast global growth to average 2.9% in 2013. However, much of the pickup in growth is expected to be driven by advanced economies.
“In the UAE, the economy is back on a growth path, thanks to a balanced national strategy based on our comparative advantages and supportive policies toward entrepreneurship and private sector development. Increased government spending and a significant resurgence in tourism, transport and trade has contributed to this upswing,” Al Saleh said.
On UAE’s Expo 2020 win, Al Saleh said that the successful bid will whet the appetite of foreign investors to invest in the UAE services sectors in 2014.
“For the first time, developing countries absorbed more foreign direct investment than developed countries, with a 52% share,” he said, adding that the UAE has succeeded in attracting FDIs through globalisation and its strong role as a prominent player in the modernised globalised economy.
Dawood Al Shezawi, CEO, AIM Organising Committee, said that international and regional investors are keen to attend this global event that will review a host of investment options, and share practices and experiences, with a focus on simplifying and maximising investments in emerging countries.
The inaugural session on April 8 will witness the release of the FDI report for 2013, and discussions on legislative and regulatory frameworks for investments. This year, the new addition will be the Ministerial Roundtable, a high level forum involving ministers from various countries, business leaders, representatives of multilateral agencies as well as world renowned experts from research centres and academia.
In the last two days of AIM, the focus will be on investment in the agricultural sector, tourism and entertainment industries, infrastructure and logistics sector as well as discussions on investments pertaining to Expo 2020, risk management, dynamic institutional investments and investments in the sectors of energy, manufacturing and financial operations and a panel discussion on investments in China as well as case studies on best practices of investment in emerging markets.