MORE WIND IN DUBAI’S SAILS
dubai — Dubai’s status as a regional hub has been reaffirmed with the emirate being ranked among the world’s top 25 cities in Global Power City Index (GPCI) 2017 on the back of its strong economy, accessibility and cultural interaction.
Released by the Mori Memorial Foundation’s Institute for Urban Strategies, the emirate has been ranked for the first time in the index at No 23 among the 44 cities, surpassing some of the major Western cities such as Barcelona, Boston, Madrid, Vancouver, Washington DC, Geneva among others.
The trade, commerce and financial hub of the Middle Eastern region, Dubai has been ranked even much higher in sub-category of economy at No 11, outpacing Paris, San Francisco, Stockholm, Frankfurt, Toronto, Moscow among others.
Similarly, the emirate has achieved best ranking in cultural interaction subcategory, notching up 9th ranking. In the subcategories of research and development and liveability, the emirate has been awarded 31st rating by the Global Power City Index 2017.
I am sure Dubai will continue to demonstrate its global attraction to individuals and entrepreneurs with many more innovations Nawab Shaji Ul Mulk, Chairman, Mulk Holdings
dubai — Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, has announced the launch of the Hamdan Centre for the Future of Investment (HCFI), a global initiative that aims to promote the contribution of foreign direct investment to sustainable development.
Sheikh Hamdan stressed that the initiative reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and is in line with the UAE’s vision to become a global centre for thought leadership, strategic foresight and partnership. The centre aims to contribute towards shaping the future of investment and its impact on prosperity.
The Crown Prince further said: “Introducing a first-of-its-kind, integrated framework to develop ‘Impact FDI’ standards and projects will further enhance Dubai’s unique advantages as a globally recognised and preferred FDI destination.”
He pointed out that transforming the United Nations Sustainable Development Goals (SDGs) into economic, social and environmental realities will create exceptional opportunities for investors and entrepreneurs worldwide.
Sheikh Hamdan also called for the integration of global efforts to accelerate the development and financing of SDG-oriented projects towards attracting private sector investments. “Transforming the challenges facing ‘Impact FDI’ into opportunities requires effective global, regional and local
transforming the challenges facing ‘Impact FDI’ into opportunities requires effective global, regional and local partnerships Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council
partnerships,” he added. The HCFI operates under the umbrella of Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy. The HCFI aims to present a global partnership model that reinforces Dubai’s leadership in providing a thriving investment ecosystem that keeps pace with global shifts towards sustainable investment and new forms of investment.
To this end, Dubai FDI is building a value network of national, regional and international professionals, strategic partnerships with the local and international investor communities and cooperation platforms with regional and international organisations, financial institutions and research centres. The HCFI will commence its activities with three main programmes under the Impact FDI theme. The first of this is the ‘Impact FDI Thought Leadership and Strategic Foresight Programme’, which aims to establish new terms of reference that differentiate the Impact FDI framework and its role in shaping a sustainable and prosperous future. The second features the ‘Impact FDI Partnership Programme’, which aims to establish local, regional and global partnerships to promote greater private sector contributions to achieve the Global Sustainable Development Goals and accelerate direct capital flows into SDG-oriented FDI projects.
The third is the ‘Impact FDI Index Programme’, which aims to provide data analytics and evaluation tools to measure the economic, social and environmental impact of Impact FDI projects.
The three programmes reflect how the HCFI will turn its vision into practical data and analytical tools that support decision-making and facilitate the investment process.