Dubai FDI briefs Japan investors on emirate’s business potential

Dubai / Emirates Business

Dubai Investment Development agency (Dubai FDI), an agency of the Department of Economic Development (DED), recently visited Japan, meeting with business representatives, investors and investment facilitators and updating them on the opportunities in Dubai.
“The growing emphasis on sustainability, competitiveness, smart technologies and happiness across development initiatives in Dubai presents significant opportunities for taking UAE-Japan engagement to new heights. Dubai FDI is now focusing on investment that would bring world-leading expertise and innovations in all sectors to Dubai,” commented Ibrahim Ahli, Director of Investment Promotion Department at Dubai FDI.
The UAE is Japan’s largest trade partner in the GCC and bilateral trade during the first half of 2016 was worth AED 43 billion, according to the Japan External Trade Organisation (JETRO). The Dubai FDI mission received substantial support from JETRO, which maintains a strong presence in the UAE
enabling Japanese firms and investors to pursue regional growth through Dubai.
A JETRO survey on conditions of Japanese-affiliated firms in the Middle East in 2015 showed a significant majority of them having a preference for the UAE as an investment destination and regional headquarters, largely due to the favourable tax systems, free zones, and stability.
“From heavy equipment to automobiles and electronic gadgets, Japanese products are an integral part of daily life in the UAE. The ongoing infrastructure development in Dubai, along with the emirate’s ambition to be a services hub and smart city, provides a new wave of opportunities for Japanese enterprises,” Al Ahli added.
Along with its partner Nomura Research Institute (NRI), Dubai FDI met with representatives of the client businesses of NRI. The partnership with NRI has already seen 7-Eleven, the international convenience store chain opening three of its outlets in Dubai during the past year, with more stores planned elsewhere in the region.
The Dubai FDI delegation also met with the Japan Co-operation Centre for the Middle East (JCC ME) under the Japanese Ministry of Economy, and discussed the ongoing initiatives set to transform Dubai as an economic hub, including preparations relating to the Expo 2020 Dubai.
“JCC ME has already established their presence in the UAE to enable Japanese investors expand in the region and a particular focus for them is small and medium-sized enterprises. Their association with Dubai FDI will be valuable for attracting SMEs and innovation-driven companies to Dubai,” said Al Ahli.
Business representatives from varied sectors in Japan, including food and beverages, fashion, glass panels and solar energy showed a strong interest in moving to Dubai at an interaction with Dubai FDI organised by Sumitomo Mitsui Banking Corporation (SMBC). Dubai FDI also held discussions with Bank of Tokyo Mitsubishi (MUFG) during which the bank expressed its desire to strengthen its presence in Dubai for attracting clients to do business in the UAE.