Credit By: Design Middle East
The Dubai Business Forum, a global event powered by Dubai Chambers, opened with insightful discussions about globalization and foreign direct investment. The event, hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, welcomed prominent speakers to discuss Dubai’s strategic role in global trade.
Keynote Address by H.E. Abdullah bin Tour Al Marri:
The forum’s morning sessions began with a keynote address by H.E. Abdullah bin Tour Al Marri, UAE Minister of Economy, highlighting the nation’s pivotal role in enhancing regional trade partnerships and domestic economic growth. He emphasized the significance of the UAE’s strategic location, world-class infrastructure, and ongoing trade growth, especially with Comprehensive Economic Partnerships Agreements (CEPAs) signed with key developing countries.
Resilience and Diversification:
H.E. Al Marri noted the UAE’s resilience amid global economic shifts and challenges. The UAE’s commitment to economic diversification, openness, and sustainability has contributed to its robust economic growth, exceeding that of other GCC countries.
Strategic Investments and Economic Growth:
The UAE’s strategic investments in non-oil sectors, innovation, and technology have positioned it as a regional industry leader. Structural reforms, including 100% foreign ownership, commercial transactions law, and residency system revamps, have fostered investor confidence. The non-oil sector played a significant role in achieving economic growth.
Dubai’s Strategic Location and Infrastructure:
Dubai’s strategic location and advanced infrastructure have made it a global hub for trade, attracting international companies, investors, and talents. The Dubai Economic Agenda (D33) aims to enhance Dubai’s reputation as a center for business, positioning it among the world’s top three cities.
Discussion with H.E. Helal Saeed Al Marri:
A fireside chat with H.E. Helal Saeed Al Marri, Director General of the Dubai Department of Economy and Tourism, explored D33’s enabling framework for international businesses. Dubai’s growth is accelerated by digitalization, innovation, entrepreneurship, and a focus on sustainability, emphasizing attracting global talent.
Sustainability and Reducing Emissions:
H.E. Saeed Mohammed Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA) highlighted DEWA’s commitment to the Dubai Clean Energy Strategy 2050 and the UAE Net Zero by 2050 strategic initiative. DEWA is implementing projects to diversify clean energy sources, reduce emissions, and leverage technological achievements.
Global Economic Resilience:
The forum discussed the Middle East’s post-pandemic resilience, with insights from Jean-Claude Trichet, Former President of the European Central Bank. Trichet commended the UAE’s remarkable economic resilience, strong GDP growth, and focus on modernization. He emphasized the importance of sustainability and green energy, particularly with the UAE hosting COP28.
The Dubai Business Forum’s opening sessions highlighted Dubai’s strategic role in global trade, its resilience amid economic challenges, and its commitment to sustainability and innovation. Dubai’s strategic location and advanced infrastructure continue to attract businesses, investors, and talents, positioning it as a global hub for trade and economic growth.
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