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Dubai Woos North American Investors

Wednesday, March 10, 2010

The Dubai International Financial Centre (DIFC) on March 8 hosted a delegation from the American Chamber of Commerce Executives (ACCE), an association for chamber of commerce professionals in the United States and Canada, aimed at enhancing financial services synergies between the emirate and the two nations.

Abdulla Mohammed Al Awar, CEO of the DIFC Authority, received the delegation, which included Presidents, Chairmen and CEOs of Chambers of Commerce from across the US and Canada. DIFC officials made a presentation on the Dubai International Financial Centre and its offerings for the financial services industry, following which the delegation was led on a tour of the financial district.

Abdulla Mohammed Al Awar, said: “The United Arab Emirates has had a strong and enduring relationship with both the US and Canada based on mutual political, economic and financial interests. With the global economy undergoing a transformation, we have an opportunity to redefine and enhance this relationship. The visit of the ACCE delegation gave us an opportunity to discuss areas of potential new synergies in the economic domain especially in financial services and capital markets. The investments made by the Nasdaq OMX Group and the CME Group in Dubai’s capital market institutions and the presence of many leading North American financial services companies in the DIFC have already created strong linkages between our two regions. We eagerly look forward to further strengthening this relationship.”

Eng Hamad Buamim, Director General of Dubai’s Chamber of Commerce & Industry said that the Chamber is keen on showcasing the real picture of Dubai’s economy to the visitors who will get a first-hand account of the opportunities available in the active sectors of trade, exports, logistics and financial services as well as the supporting sectors of tourism and real estate. He said:

“Dubai’s economy is full of investment opportunities in many sectors and as the US investors are looking at emerging markets to expand their business activities, Dubai provides the ideal destination for their investments due to its geographic location, world class infrastructure and competitive advantage.”