(MENAFN- Khaleej Times) Dubai announced on Tuesday the launch of a global initiative aimed at channelling foreign direct investment (FDI) to sustainable development activities to help economies to benefit from.
The Dubai Investment Development Agency (Dubai FDI) said the launch of the Hamdan Centre for the Future of Investment (HCFI) seeks to present a global partnership model in providing a thriving investment ecosystem that keeps pace with global shifts towards sustainable investment and new forms of investment.
The HCFI, launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, will commence its activities with 3 main programmes under the 'Impact FDI' theme.
'Impact FDI' is the term of reference for FDI projects that contribute to sustainable economic development goals with positive outcomes on people, business and the environment.
The vision is to set a leading global centre of 'Impact FDI' development, partnerships and foresight, while the mission is to enhance its role in achieving sustainable economic development goals by shaping the future.
"Dubai FDI is building a value network of national, regional and international professionals, strategic partnerships with the local and international investor communities and cooperation platforms with regional and international organisations, financial institutions and research centres," Dr Raed Safadi, chief economic adviser of DG Office, told delegates at the Annual Investment Meeting.
Dr Safadi talked about new generation investments this centre would make to ensure the UAE remains globally competitive and attracts innovative investments from around the world - especially in start-ups, technologies that drive smart cities, the 4th Industrial Revolution and blockchain applications.
"There are vast opportunities for us to send FDI abroad and attract FDI to our land. As investors, we need to focus on the social values while investing. We should spend where it will be a help to upgrade a developing society," said Dr Safadi.
The UAE ranks 34th in the world in terms of FDI inflow and 2nd in the Middle East. However, as a source for FDI, the UAE ranks 23 in the world and the first in the Middle East - making it a net capital exporting country in the world.
Major UAE businesses such as DP World, etisalat, Emaar Properties, Dubai Properties, Eagle Hills, Economic Zones World, Smart Cities, Nakheel, Limitless, Damac Properties, Emirates Group, Etihad and Emirates NBD Group are major investors in other countries. Additionally, major UAE-based sovereign wealth funds have actively been investing in foreign countries, including the Abu Dhabi Investment Authority, Mubadala and Dubai International Capital.
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Issac John Associate Business Editor of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.
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