DED supports Chilean Business Week to explore bilateral business opportunities

The Department of Economic Development (DED) and its Foreign Investment Office (FIO) are endorsing a delegation of Chilean entrepreneurs headed by the Chilean Director of the Trade Promotion Agency, Mrs Alicia Frohmann. The delegation is touring the UAE to evaluate investment and business opportunities, areas of cooperation in agriculture and infrastructure and cross region investments.

The visit is part of the ‘Chilean Week’, a showcase of Chilean culture and commerce being held in Dubai from October 17 to 24, 2009.

His Excellency Mr Sami Al Qamzi, Director General, DED, said that hosting the Chilean delegation highlights the potential of Dubai as the engine of growth and economic development in the Middle East region. “Dubai takes the lead in strengthening international collaborations and undertakes initiatives that consolidate its position as a business and financial hub. One of the strategic objectives of DED is to provide a suitable environment for international investors and entrepreneurs and encourage them to choose Dubai as an ideal destination for businesses.”

“The liberal economic policy adopted by the Government of Dubai plays a vital role in the growth of trade and attracting foreign investment to the emirate. Chile is one of the active trade partners of the UAE and Dubai. The visit of the delegation will go a long way towards strengthening the long-standing relations between the two countries,” Mr Al Qamzi added.

Trade between Chile and the UAE exceeded US$113 million in 2008, with Chilean exports accounting for US$107.7 million. Wood, cellulose, and race horses are some other examples of exports from Chile to the UAE, in addition to fresh fruits.

Mr Fahad Al Gergawi, CEO of the Foreign Investment Office, said: “FIO plays a key role in facilitating investments and strengthening relations between entrepreneurs and the Government of Dubai.  The Dubai Government plays a vital role in enhancing the competitiveness of the emirate by improving infrastructure, adopting pro-investment policies, legislation and incentives, and embarking on joint initiatives and projects with the private sector.”

He added: “The delegation will explore opportunities in strengthening the logistical links between Chile and Dubai, with DED and FIO playing a key facilitator role. The delegation will also focus on cross-regional investments, and investments in regional infrastructure and agriculture.”

This delegation will make visit to Jebel Ali Free Zone, Dubai Industrial City, Dubai World Central and Dubai Flower Center.

About Department of Economic Development (DED):
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.