- Agreement to nurture collaboration between entities, attracting more regional and international businesses and investments to Dubai
Dubai, UAE, 21 July 2020: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region has signed a Memorandum of Understanding (MoU) with the Dubai Investment Development Agency (Dubai FDI).
Dubai FDI is an agency of Dubai Economy, Government of Dubai whose mission is to stimulate and sustain foreign investment in Dubai. Their mission is consistent with DIFC’s focus to drive the future of finance by attracting leading companies and innovative start-ups to set up, operate and scale from Dubai.
The agreement signed between Arif Amiri, CEO of DIFC Authority and Fahad Al Gergawi, CEO of Dubai FDI, will strengthen long term relationships between the two organisations. It will also connect DIFC to stakeholders across Dubai FDI’s extensive international and regional network, which includes the fast-growing MEASA markets where DIFC continues to see interest from potential clients.
Both entities will work together to increase business growth through the exchange of information and by launching new industry initiatives. Collaborating on joint roadshows, events and seminars will lead to powerful knowledge transfer and strengthen Dubai’s position as the best place in the region to establish.
Commenting on the MoU, Arif Amiri, Chief Executive Officer of DIFC Authority said: “The agreement between DIFC and Dubai FDI provides an opportunity for two leading Government entities to support sustainable growth of Dubai’s economy. We will collaborate closely to identify investment opportunities and provide businesses with world class, seamless entry into the MEASA region. The joint initiatives will also support DIFC’s strategic goal to drive the future of finance by opening doors to innovative companies and start-ups in geographies where Dubai FDI has an established reputation.”
Fahad Al Gergawi, Chief Executive Officer of the Dubai Investment Development Agency, said: “A major feature of the ‘Dubai Advantage’ that Dubai FDI promotes across our global missions and investor outreach is the presence of a world-class infrastructure, policies and reputable excellence center institutions in the emirate. The Dubai International financial Centre is the best financial center in MEASA and one of the strongest financial hubs in the world, proven to be the location of choice for multinationals and innovative enterprise in the financial sector. Our partnership will promote further public-private engagement and develop new opportunities for investors while also bringing added value to existing companies looking to expand their footprint in the region.”
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.
With a 15-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 25,600 professionals working across over 2,400 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.