THE WORLD CORPORATE SUMMIT SUPPORTS DUBAI AS A MAJOR FDI HUB

“The future belongs to those who can imagine it, design it, and execute it. It isn’t something you await, but rather create.”

– His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Mr. Mohamed Alzaabi, CEO of INVESTOPIA, Advisor to the Minister of Economy with Mr. Bernard Caiazzo, President, World Corporate Summit and Ms. Nina Carneiro, Ceo – World Corporate Summit, were present at the opening ceremony of The World Corporate Summit.

The World Corporate Summit’s (WCS) supported by Dubai’s Department of Economy and Tourism, their objective, goal and vision is aligned to support and be a strong foundation to make Dubai as top FDI destination, to make  investor confidence cohesive in its stability and reinforce its status as a strategic partner to foreign investors. The summit consists of intimate round-table discussions across the following verticals: Finance, Business, Health, Education, Industry, Media, Technology and Sport. WCS – will bring together hundreds of senior executives from around the world, supporting economic growth, learning and human connection, as we disrupt the world of business.

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Dubai retained its status as the world’s leading foreign direct investment (FDI) hub with FDI inflows of Dhs13.72bn in H1 2022, reflecting a growth of 14.6 per cent compared to the same period last year,, retaining its first rank globally for attracting FDI projects during H1 2022.

The emirate attracted 492 FDI projects during the first six months of 2022, an 80.2 per cent increase compared to the same period in 2021, according to data published by Dubai’s Department of Economy and Tourism (DET).

“Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said: “We remain committed to enriching Dubai’s enabling business environment to explore fresh growth avenues with our partner investors to achieve even greater success in years to come. Further diversifying the economy, attracting more investment in future-focused sectors, and enhancing growth opportunities in the digital economy, will remain our strategic objectives for Dubai’s development journey.” 

WCS’s mission is of driving economic growth not only in the United Arab Emirates but also globally, while providing attendees the opportunity to do business while attending their national team’s matches, supporting economic growth and tourism in the GCC region. 

Bernard Caiazzo, President, World Corporate Summit and and President of the Global Football Alliance remarked, “By bringing together the major players of the world of sport and business in Dubai to share in the passion of football while exploring investment opportunities, during the biggest international sporting event, we are laying the foundation for a more inclusive and modern World Economic Forum, with the support of Dubai’s Department of Economy and Tourism.”

Dubai also ranked first globally in attracting greenfield FDI projects during the same period this year, according to the Financial Times’ FDi Markets, its online database on cross-border greenfield investments.

Underlining its focus on retaining investments and investor confidence, Dubai ranked fourth globally in reinvestment FDI projects, 10th globally in reinvestment FDI capital inflows, and eighth in terms of jobs created by reinvestment projects.

WCS, a strong platform for impact for key business leaders, connecting the world’s business leaders to Dubai for intimate discussions and partnership-building, have joined together at the crossroads of international business for invite-only closed door discussions and deal-making on changing industry dynamics, challenges and opportunities, supported by Dubai’s Department of Economy and Tourism.

The Summit spans for 20 days with over 100 roundtables across finance, business, media, technology and industry verticals of top experts from corporations, associations, chambers, startups, governments, thought leaders, with an overarching theme of sport, complemented by networking events, excursions and galas at the luxurious THE PALACE HOTEL, DOWNTOWN DUBAI, 21st November – 15th December.

During the summit, the key highlight of sports week is Investopia: The Future of Sport, hosted by Abdullah bin Touq Al Marri, Minister of Economy and Chairman of Investopia, on 7th and 8th December, 2022. Sports being a valuable aspect for the UAE, Investopia, was designed to shape the future economy of sport and become a major investment arm of the UAE government.

Abdullah bin Touq Al Marri, Minister of Economy and President of Investopia remarked, “Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” he added, noting that there are many incentives that serve the sporting community and attract the interest of a wide range of investors.

“The World Corporate Summit, I believe, will be a great platform to elevate Dubai’s position as the destination for business and luxury, as well as to create partnerships, enter deals and discuss plans for the future of business,” added Abdullah bin Touq Al Marri, Minister of Economy and President of Investopia.

Few of the speakers of the World Corporate Summit, includes among others Abdulla bin Touq, Minister of Economy, HE Issam Kazim, CEO of Dubai’s Department of Tourism and Commerce Marketing, Khawaja Aftab Ahmed, the regional director for the Middle East of the International Finance Corporation, and Javier Tebas, president of Spain’s La Liga.

The UAE-based retail conglomerate Apparel Group has partnered with the World Corporate Summit 2022 as the official Gold Sponsor.

“As Apparel Group continues to cement and strengthen its position as one of the leading retail conglomerates in the region and globally, we are pleased to announce our strategic partnership with World Corporate Summit (WCS) as a Gold Sponsor. WCS will be a unique platform amongst key regional and global business leaders and government institutions. As Apparel Group, this summit will solidify our contribution to the future of Dubai as it continues to establish itself as a global hub of commerce and trade,” stated Neeraj Teckchandani, CEO of Apparel Group.

According to the Kearney’s FDI Confidence Index, the UAE is the Middle East’s top hotspot for foreign capital inflows, improving its ranking from 15th last year to 14th this year.

According to Rudolph Lohmeyer, Partner and Head of Kearney’s National Transformations Institute, the UAE’s steady rise in the rankings in the past years [in 2017 the UAE ranked 21st) speaks to the power of consistency and momentum. The success of the Expo coupled with the UAE’s continued investment in advanced technological infrastructure has diversified the economy, making the country more attractive for investors.”

Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE), commented, “We are pleased to extend our support to the World Corporate Summit, a significant gathering of top global executives that further reinforces Dubai’s position as an international hub for events, business and tourism. As a multi-faceted destination that offers visitors a multitude of different experiences, events form a key element of Dubai’s tourism strategy that is guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to ensure Dubai becomes the most sought after destination and the best city in the world to live and work in.”

Post the summit, the opening Gala dinner was attended by diplomats, special dignitaries, speakers and guests.