The inaugural Dubai Business Forum took place on 1 and 2 November, bringing together 2,000 CEOs, investors and businesses from around the world under the theme ‘Transforming Economic Power: Dubai and the Future of Global Trade’.
“The presence of leading business leaders and international economic players reinforces Dubai’s position as an ideal destination for doing business and elevates the Emirate’s reputation as a global economic hub to a whole new level,” a statement issued by the Dubai Government on Wednesday said.
He added that it also “demonstrates the attractiveness of Dubai’s competitive business environment as well as investors’ strong confidence in the Emirate’s economic model.”
Approximately 42% of attendees traveled from outside the UAE, “underlining the importance of the event as a key global platform for cross-border dialogue.”
Multinational companies represented 46% of the total participation, and fast-growing startups represented 35%.
The event included 24 panels and speeches by 33 local and foreign speakers.
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“In organizing the Dubai Business Forum, we were keen to align its objectives with the objectives of the Dubai Economic Agenda (D33) and the strategic priorities of Dubai Chambers to keep pace with the vision of our leadership. President of Dubai Chambers, HE Abdul Aziz Abdulla Al Ghurair, said that the forum will be aimed at enhancing trade relations, economic partnerships “We look forward to it serving as an outstanding platform to build and unlock investment opportunities.” said.
D33’s objectives include attracting foreign direct investment exceeding AED 650 billion within 10 years and making the emirate one of the world’s top three economic cities and top four financial centres.
On the first day of the event, Dubai Chambers signed a cooperation agreement with the Hamburg Chamber of Commerce in Germany to establish an ‘Innovation Corridor’ between the two markets.
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The event was held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and was opened by His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai.
His Highness Sheikh Ahmed bin Mohammed said: “We continue our efforts to ensure that a variety of investment options are available across all sectors, allowing foreign investors to do business easily.
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Dubai welcomes all types of investment and we will continue to develop our financial and economic ecosystems as our way of bringing the world together.“
AED500 million VC fund launched for fintech startups
On the sidelines of the forum, Dubai Authority for Integrated Economic Zones (DIEZ) announced the launch of an AED500 million venture capital fund for fintech startups.
According to the statement made by the Government of Dubai, its aim is to support the economic objectives set out in D33 by encouraging the growth of SMEs in various emerging sectors.
The fund is the first investment program launched under the name Oraseya Capital, DIEZ’s venture capital arm specializing in venture investment operations in startups.
“He will play a pivotal role in supporting startups from the pre-seed stage to the Series B investment stage,” according to the statement.
DIEZ Chairman His Highness Sheikh Ahmed bin Saeed Al Maktoum said that the establishment of the fund serves as a great support for successful companies seeking to establish a global presence.
“It will play a pivotal role in strengthening Dubai’s status as a nurturing base for the most innovative, advanced and creative businesses around the world.”
news source (www.brecorder.com)
