On May 13th, His Excellency Fahad Al Gergawi, Chief Executive Officer of Dubai FDI, reviewed the U.A.E.’s new foreign direct investment law and the impact of the COVID-19 pandemic upon foreign direct investment in the U.A.E. These remarks came as part of the U.S.-U.A.E. Business Council’s webinar series titled, “Looking Ahead: Conversations with U.S. and U.A.E. Business and Government Leaders.”
After thanking the U.A.E.’s leadership for their response to this crisis and for ensuring the health and safety of Emirati citizens and residents, H.E. Al Gergawi provided background on the U.A.E.’s foreign direct investment law. In March, the U.A.E. issued a Cabinet Resolution which outlined the FDI Positive List, and the requirements for establishing FDI companies onshore in the U.A.E. H.E. Al Gergawi stressed that these developments fortified the U.A.E.’s status as the preeminent destination for foreign investment in the region.
Following His Excellency’s remarks, Mr. Danny Sebright, President of the U.S.-U.A.E. Business Council, moderated a lively question and answer session during which His Excellency the impact of COVID-19 business and FDI in the U.A.E. and the work that Dubai FDI is undertaking to enable the restart of business in Dubai. His Excellency noted, “Dubai FDI is working closely with Dubai authorities and free zones to ensure that we are able to restart the economy and resume business in a safe and secure manner.”
The video call was attended by over 300 senior executives from leading American and Emirati finance, technology, aviation, tourism, defense & aerospace, healthcare, and logistics companies as well as by U.S. and U.A.E. government officials.
During the COVID-19 crisis, the Business Council launched a webinar series titled, “Looking Ahead: Conversations with U.S. and U.A.E. Business and Government Leaders.” U.A.E. Ambassador Yousef Al Otaiba and U.S. Ambassador John Rakolta Jr. launched this series with separate discussions surrounding the economic impacts of Covid-19. The Council subsequently conducted events with H.E. Waleed Al Muhairi from Mubadala Investment Company, Sir Tim Clark and Mr. Tony Douglas from Emirates and Etihad, healthcare technology leaders, leading law firm Morgan Lewis, and prominent American tech companies. For more information about upcoming events in this series, including webinars with the U.A.E. Minister of State for Food Security and Assistant Secretary of State David Schenker, please contact the U.S.-U.A.E. Business Council’s head of communications Mary Zuccarello at firstname.lastname@example.org.