Dubai, 20 June, 2010: His Excellency Mr Sami Al Qamzi, Director General of Dubai Department of Economic Development (DED) , will inaugurate the “Dubai Economic Forum” in Seoul, South Korea, today (June 21, 2010). The initiative aims at strengthening bilateral trade with South Korea and underscoring the investment opportunities in Dubai.
Mr Al Qamzi is heading a delegation that comprises the Chief Executive Officers of Dubai Export Development Corporation, Mohammed Bin Rashid Establishment for SME development, Foreign Investment Office, and Dubai Events and Promotions Establishment – all four agencies of the DED . The Forum will enable entrepreneurs and investors in South Korea and Dubai to network and explore opportunities for partnerships and business expansion.
More than 70 Korean major companies, associations and government officials are expected to attend the forum, which will include presentations that highlight investment opportunities, ways to conduct businesses and promising industries in Dubai, the current state of exports, the important role that Dubai plays in re-exports, and the role of small and medium enterprises (SMEs) in driving Dubai’s economy. The presentations will also focus on Dubai’s role as the economic, tourist and commercial hub in the region.
“The Forum aims to promote closer business and investment relations between Dubai and South Korea, one of the most promising growth economies in the world. Trade between Dubai and South Korea has witnessed noticeable improvement with exports and re-exports increasing to AED212 million in 2009 compared to AED195.8 million in 2008,” added Mr Al Qamzi.
Mr Al Qamzi said DED , as a partner in growth, will assist manufacturers, traders, investors, entrepreneurs and exporters in South Korea to evaluate the dynamic business landscape of Dubai and achieve their strategic goals.
The DED delegation is scheduled to visit several organizations and companies to closely study the business models of these organizations.
“The Government of Dubai has embarked on a series of initiatives in the business, investment and regulatory spheres to reinforce the city’s reputation as a financial and trading hub. Our objective is to ensure sustainable economic development in Dubai and the UAE through effective economic policy and regulations, by identifying strategic growth sectors and providing efficient services to local and international investors,” Al Qamzi said.