Dubai 'to be promoted as a trade and investment destination'

06/09/2012 - Dubai Investment News Posted by Neil King
Dubai 'to be promoted as a trade and investment destination'

Citi Transactions Services (CTS), a division of Citi, has signed an agreement with the Department of Economic Development (DED) of the government of Dubai in order to work at boosting Dubai's attractiveness as an investment destination and a major global trade hub. The comprehensive Memorandum of Understanding (MOU) is also intended to promote a business environment that is much more conducive for the establishment of small to medium-sized enterprises within the emirate. It calls for a series of presentations and roadshows to be hosted outside of the United Arab Emirates (UAE) in order to attract fresh investment from outside the Middle Eastern region. Hamad Mohammed bin Mejren, CDME executive director of business tourism, recently underlined the fact that the UAE continues to secure major conferences and expos within its limits without difficulty. He added that it has continually strived to emphasise just how important it is to develop meetings, incentives, conferences, and the exhibitions industry in the emirate. Director-general of the DED HE Sami Al Qamzi said the government is delighted with the news that a firm as reputable - as well as holding a global name in banking in finance - has elected to partner up with his department on a range of initiatives. Additionally, he stated that the DED and Citi have the common goal of wishing to improve Dubai's viability as a global economic hub - adding that the MOU lays the foundation for a strong partnership that should be sustainable in the long term. Chief executive for the Middle East Division of Citi Atiq Ur Rehman said: "Dubai continues to make strides as a city of choice for businesses, multinational corporations and expatriate population." "We are delighted to have the opportunity to assist DED in enhancing Dubai's competitiveness in the future," Mr Rehman commented, suggesting the move will be mutually beneficial.