Dubai: The inaugural Dubai Investment Forum hosted by Dubai Investment Development Agency on Monday, various government departments and government related entities (GREs) unveiled investment opportunities worth several billions of dirhams for private sector participation.
Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai, attended the opening of the Forum hosted by Dubai Investment Development Agency. The event aims to provide global investors with insights on existing as well as new and emerging investment opportunities across key growth sectors in Dubai.
“Excellent infrastructure and competitive business environment combined with new investment initiatives by government and government related entities have opened up huge opportunities for private sector to participate in Dubai’s next big leap in sustainable growth. The Dubai 2021 Plan as well as the UAE Vision 2021 has provided new momentum to Dubai’s strategy to grow sustainably and reinforce its position as the global hub for an expanding regional market,” said Fahad Al Gergawi, Chief Executive Officer of Dubai FDI.
Dubai FDI has been engaging private sector from around the world to participate in Dubai’s new growth push which involves several billions of investments in areas ranging from infrastructure, health care, power generation and distribution, transport, logistics and civic amenities.
The opening session of the Forum entitled Opportunities for Growth, Partnership and Innovation was addressed by Sami Al Qamzi; Hussain Nasser Lootah, Director General of Dubai Municipality; Saeed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), Humaid Al Qatami, Chairman of the Board of Dubai Health Authority (DHA), and Khalifa Al Zaffin, Executive Chairman, Dubai Aviation City Corporation, elaborating on the vision guiding the strategic investment plans of their respective entities.
With an estimated population of about 4 million, Dubai is expected to expand rapidly putting pressure on civic amenities warranting huge investments renewable energy, waste management and clean environment.
“We have one of the highest per capita waste generation in the world. Our new approach to managing waste is to convert it into energy. We are working on a Dh2.1 billion project to be implemented with private sector participation. The project is nearing tendering stage and will be completed by 2021,” said Hussain Ali Lootah, Director-General of Dubai Municipality.
Keeping in mind, the sustainable development goals, Dubai municipality is also working on new solid waste and waste water recycling projects, and creation of a sustainable city named Desert Rose that will by fully dependent on renewable energy.
Dubai Electricity and Water Authority (DEWA) said it has opened up a number of its projects for private sector participation. “Dewa is already working with a number of local and international investors in our projects. Mohammad Bin Rashid Solar Park is one such project which generated interest from more than 50 private sector players,” Al Tayer said.
Health care is an area where private sector is already a big participant. “The sector is attracting big investments in recent years with an average annual investment of Dh10 billion, the investment is projected to grow at average rate of 15 per cent for the next five years,” said Humaid Al Qatami, Chairman, Dubai Healthcare Authority.
