The Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, is chasing potential investors and partners from Japan after initiating a series of webinars to highlight opportunities in the healthcare, food and agribusiness and technology sectors.
The webinars are aimed to enable stakeholders to continue exploring and promoting investment opportunities at a time when in-person trade missions have been affected by coronavirus restrictions.
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Fahad Al Gergawi, CEO, Dubai FDI, said: “Japan and the UAE historically have a strong trading partnership spanning many years. This has become deeper and more robust after the launch of the UAE’s Amal (Hope) probe to Mars from Japan’s Tanegashima Space Center on 20 July 2020.”
The total value of non-oil trade between the two countries has surpassed AED534 billion in the 11 years between 2009 and 2019, while more than 10,000 Japanese companies, agencies, and brands operate in the UAE, he added.
Between 2015 and 2019, Japanese projects brought an estimated foreign direct investment (FDI) worth AED1.04 billion into Dubai, according to data from the Dubai FDI Monitor.
Fahad Al Gergawi, CEO, Dubai FDI
In 2019, FDI inflows into Dubai from Japan increased by more than 171 percent over the previous year.
The virtual outreach, being organised in partnership with the Japan External Trade Organization (JETRO), kicked off last month with the healthcare sector in focus while webinar on the food and agribusiness sector was held on Tuesday and the technology sector outreach will follow on November 4.
Muna Almaeeni, deputy head of the UAE Mission to Tokyo, said: “Regular dialogue between the leaders of the UAE and Japan, supported by strategic initiatives and trade missions, has strengthened the bilateral relationship over the years. Exploring new opportunities via webinars gives impetus to our existing long-term partnership.”
The healthcare webinar saw representation from Dubai Health Authority (DHA) and Dubai Healthcare City Authority (DHCA) as well as Dubai FDI. Opportunities discussed include centres of excellence in specialisations such as cardiology, neurology, and rehabilitation. The production of generic pharmaceuticals and the production, sales, and service of medical devices also continues to be areas of focus for investment in Dubai.
UAE’s Amal (Hope) probe to Mars from Japan’s Tanegashima Space Center on 20 July 2020
Representatives from Dubai Municipality (DM) and Jebel Ali Free Zone Authority (Jafza) joined Dubai FDI at the webinar on the food and agriculture sector at a time when Dubai is developing a robust food and agriculture ecosystem as an effective counter to potential international supply chain disruptions.
Participation from Dubai Future Foundation (DFF) and Smart Dubai will be front and centre, alongside Dubai FDI, at the technology sector webinar next month.
Dubai has recorded growth in FDI during the first six months of 2020, with 190 projects worth AED12 billion, according to data from Dubai FDI Monitor.
Medium and high technology investments accounted for 53 percent of FDI attracted by Dubai in H1.