Dubai: Dubai Investment Development Agency (Dubai FDI) and DUBAL Holding LLC (DH) have signed a memorandum of understanding (MoU) to initiate close cooperation between the two investment bodies for the purpose of furthering their respective strategic interests and objectives. 

The move paves the way for a wide range of cooperation between the two parties, with both Dubai FDI and DH expressing a keen interest in the development of a long-term relationship to leverage policies and enhance investment promotion practices. 

The MoU allows for sharing of information and research findings, consultation, and joint participation in domestic and international event, among other provisions, which will further contribute to the flow of foreign investments into Dubai, and the rise of an industrial base in the emirate. 

The MoU was signed by Fahad Al Gergawi, CEO of Dubai FDI, and Ahmad bin Fahad, CEO of DUBAL Holding.

During the signing ceremony, Al Gergawi said: “We are pleased to increase the opportunities for further cooperation, and join forces with our colleagues at Dubal Holding, which represents one of the most outstanding and successful economic entities in the region. We look forward to examine ways and means where we could create a synergy that generates additional interest from international investors in Dubai’s world-class business environment and the vast investment opportunities the emirate has to offer in various sectors.”

“Dubai continues to demonstrate a high level of resilience and resourcefulness in the face of uncertainties as different parts of the world grapple with the Covid-19 crisis. However, Dubai’s strong performance will not make us relax our efforts or stop us from being even more proactive and shore up our strength by building business alliances with entities that are aligned with us in approach and endeavour, such as DUBAL Holding,” he added. 

Bin Fahad, said: “DUBAL Holding shares strategic interest with Dubai FDI, and we complement each other on more than one level. Dubai FDI has a wealth of experience, and our combined knowledge in business and industrial investment, and expertise in identifying and marketing investment opportunities, will be quite valuable to the market.”

“We look forward to exploring in depth all avenues of cooperation to optimise our endeavours, and serve Dubai’s interests in the best possible manner,” he added.

Meanwhile, and in the short and medium terms, Dubai FDI and DH will look into the scope and mechanism for exchanging information, data and research findings; and plan for joint participation in events, exhibitions and road shows across the UAE and around the world. They will also be assisting each other in organising or participating in trade fairs, exhibitions, conferences, seminars, and the study of industrial investment opportunities.