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05 November 2019
ECONOMY

Dubai FDI signs MoU with Standard Chartered Bank

The partnership will enable support and collaboration across global initiatives and projects related to attracting know-how and technology transfer as well as investments in Dubai to consolidate the emirate’s position as a preferred global FDI destination.

DUBAI SKYLINE/BLOOMBERG


Dubai FDI has signed an MoU with Standard Chartered Bank to facilitate consultation, cooperation and exchange of information in areas of mutual interest and objectives. 

Fahad Al Gergawi, the CEO of Dubai FDI, said, “As we strive to promote a unique investment environment by significantly enhancing ease of doing business and offering broader prospects for investments in the future, the MoU with Standard Chartered Bank provides a comprehensive framework to intensify joint efforts towards raising investment performance and integrating efforts in the field of business.”

According to the World Bank’s Doing Business Report 2019, the Gulf region sharply improved in the ease of doing business rankings this year and the most improved countries over the previous year were the UAE, Saudi Arabia as well as Bahrain and Kuwait.

The UAE and Saudi Arabia among other GCC countries are restructuring and opening up their economic activities, rethinking the role of foreign investors as well as SMEs as they look to ease fiscal burdens and do away with dependence on oil.

The private sector's participation in the sustainable economic development of Dubai plays a significant role in making the emirate the preferred FDI destination for global and emerging companies to grow and expand, said Al Gergawi.


RELATED STORIES: STANDARD CHARTERED BANK DOING BUSINESS REPORT DUBAI FDI

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