Dubai FDI signs agreement with Los Angeles

Dubai: The Dubai Investment Development Agency (Dubai FDI), the investment development agency of the Department of Economic Development (DED) in Dubai, announced the signing of a Memorandum of Understanding (MoU) with the city of Los Angeles.

Under the terms of the agreement, Dubai and Los Angeles will promote and facilitate cooperation between the business communities of both cities to drive foreign direct investment (FDI) and development. Dubai and Los Angeles will also collaborate in the transfer of knowledge and expertise by organising joint events, including exhibitions, conferences and business missions in both cities.

Los Angeles is the third-largest metropolitan economy in the world, with a population of 10 million and a GDP of over $700 billion (Dh2.57 billion).