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Dubai FDI participates in Dubai business Forum in Vienna

13. December 2011

Dubai FDI, the foreign investment promotion arm of the Department of Economic Development, participated in the Dubai Business Forum recently held in the Austrian capital, Vienna. The Austrian Trade Commission reports.

Dubai FDI’s presence at the forum, along with the Dubai Chamber of Commerce and Industry (Dubai Chamber) and the Jebel Ali Free Zone Authority (JAFZA) was co-ordinated by Advantage Austria – the Austrian Trade Commission in the UAE - and the Austrian Federal Economic Chamber.
Dubai FDI used the forum to connect with Austrian businesses, showcasing the advantages of Dubai as a regional hub and the competitive investment environment and practices in the emirate.
“Dubai’s reputation for promoting investment and enabling growth has added significance in the prevailing global economic climate. The Dubai Business Forum enabled Dubai FDI to address key European investors and invite their attention to the opportunities existing in Dubai to set up and grow business,” said Fahad Al Gergawi, Chief Executive Officer, Dubai FDI.
“As one of the most prosperous among European economies, Austria has significant resources and expertise, especially in promising areas like tourism, energy and sustainable technologies. Dubai being a vital link in global supply chains and the easiest access point to strategic markets in the Middle East, North Africa and South Asia (MENASA), Austrian investment in Dubai will establish the right synergies to energise global trade,” added Al Gergawi.
More than 180 Austrian companies are already operating in the UAE, according to the Austrian Business Council based in Dubai. Austrian companies and engineers have participated in major infrastructure developments in the UAE since the 1970s.
“Austrian Companies have realized that Dubai has come back strongly on the back of the three T’s that signify the Emirate’s economy: Trade, Transport and Tourism. These features have been instrumental throughout even the last 2 years in keeping more than 200 Austrian companies in Dubai maintaining and enlarging their presence. The Dubai Business Forum in Vienna was a focal point of reference for Austrian Companies coming newly to this market. More exchange of delegations and business visits will follow in the month of November deepening the relationship and economic partnership between Vienna and Dubai “said Dr Wolfgang Penzias, Trade Commissioner at the Austrian Embassy in the UAE.
About Department of Economic Development (DED)
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.
About Dubai FDI
Dubai FDI, Dubai’s official foreign investment office, works with the Department of Economic Development to promote investment opportunities in Dubai, support international investors to establish a presence here whilst taking advantage of Dubai’s strategic location to access the MENASA region. Dubai FDI assists in the identification of sector specific opportunities, provide connections to a network of both government and non-government partners, and provide support throughout the investment lifecycle from setup to growth. 

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