Dubai, U.A.E. - IMF: UAE recorded 4% GDP growth, cumulative balance of foreign direct investment (FDI) exceeded AED 387 billion:
H.E. Al Mansoori: "The main theme of AIM 2015 is 'Sustainable Development Through FDI-Induced Innovation and Technology Transfer.'"
Dawood Al Shezawi: "AIM will highlight UAE's historic achievement in creating UAE Space Agency, reflecting innovation and technology transfer"
Dubai, UAE - Under the directive of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, UAE Ministry of Economy announced that preparations for the 5th Annual Investment Meeting (AIM) scheduled from March 30 to April 1, 2015, at the Dubai International Convention and Exhibition Centre, are in full swing.
H.E Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, said that the past four editions of AIM were successful in bringing together a galaxy of decision makers and investments experts, putting the spotlight on the hot investment destinations of the world and the rising the stature of the UAE as a top destination for Foreign Direct Investment (FDI).
H.E. Sultan Bin Saeed Al Mansoori
This year's meeting, themed on 'Sustainable Development Through FDI-Induced Innovation and Technology Transfer', will be attended by representatives from 140 countries.
H.E. Al Mansoori said: "As we prepare for the 5th Annual Investment Meeting 2015, we can see a return of optimism to the global economy after more than five years of daunting economic challenges. According to most analysts, global GDP is forecast to grow at 3.0 and 3.3 per cent in 2014 and 2015 respectively."
The 5th edition of AIM will be held at a time when the UAE has become a first class investment destination, due to several factors, such as its strategic location, flexibility in logistics, and advanced infrastructure as well as the increase of FDI flow, which stood at AED 387 billion.
HE Al Mansoori said: "As for outward global FDI, while there is strong FDI growth in growing markets from Asia and intra-regional investment, developed economies are still the main source of investment. However, growing markets are becoming significant investors in their own right, as observed in the last few years, and are likely to reinforce the long-term trend of greater participation by global enterprises in global FDI flow."
Innovation is the main topic of discussion at AIM 2015, which comes at a time when the UAE was ranked first among Middle East countries in overall performance in 2014 according to the Global Innovation Index, published by Cornell University and the European Institute for Business Administration INSEAD and the World Intellectual Property Organization. The high rank, which recognizes success in attracting talent and minds, reflects the vision of the government and its commitment to provide an ideal environment for innovation and technology transfer and exchange of experiences and competencies.
H.E. Al Mansoori added: "Many countries have realized how FDI can accelerate growth and development due to transfer of technology and high-end industries. Large corporations, the main drivers of FDI, are a powerful and effective channels for disseminating technology from developed to growing markets, and represent a major source of new and innovative technologies."
AIM 2015 will highlight the historic achievement in creating UAE Space Agency, and plans to launch the first exploratory probe to Mars led by research team from the UAE.
Mr. Dawood Al Shezawi, CEO, AIM's Organizing Committee says: "The most prominent research topics in this edition of AIM are the contribution of FDI in transferring technology and expertise between countries. The forum will shed light on this type of investment and its role in getting the latest and most advanced technological innovations, due to the fact that huge companies own unique capabilities in scientific and technological research. This technology transfer will be accompanied by best organizational, administrative and technical skills."
Mr Dawood Al Shezawi
In spite of the existence of alternative channels for direct investment, which enable countries to attract the techniques of modern technology such as administrative contracts and licenses as well as published research on direct purchase, FDI is the best way to attract feasible technology through close communication between investors and the investment environment, which highlights the theme of AIM 'Sustainable Development Through FDI-Induced Innovation and Technology Transfer'.
"This edition seeks to raise awareness about ways of sustainable development through FDI and the contribution of this investment in technology and innovation in any country. The strategies of foreign companies in determining the type of technology used in existing projects or its affiliates are determined by the effectiveness of technology transfer and promotion of innovation. This step facilitates the entry of new systems and encourages more local companies to adopt them for the advancement of its operations and keep pace with operational global standards and thus ensure long-term sustainability, the promotion of innovation and adoption of high technology."
The operations of technology transfer and indigenization of FDI are on the agenda of several industry sectors in the region and the world, which is an effective and optimum proven advancement of economies worldwide.
Organizers of AIM 2015 say the role of emerging markets is to provide an ideal economic environment for foreign investments and overcome all logistical procedures and ensure its continuity. Emerging markets are also required to invest in infrastructure and services sector to create an ideal investment chain which will achieve positive results for all parties in the investment process.
AIM advocates that dealing with FDI and multinational companies must be conducted in accordance with a clear strategy that makes transferring technology a priority. This includes an integrated study of the ability to acquire and adapt technology as well as the mechanisms intended for technological development.
AIM 2015 will highlight the changes in the world FDI landscape which is continuing its rapid pace and is characterized by fierce competition and its determinants are evolving towards location advantages.
"AIM 2015 will throw light on the ways and means to attract, retain and benefit from foreign investment which in turn creates jobs and develops skills. It will teach how to enhance the technological contribution of foreign firms through education and specialized technological training as well as how spillovers and backward linkages can be realized," Al Shezawi said.
AIM 2015 is expected to attract more than 500 exhibitors from 140 countries, showcasing products, services and projects from sectors like agriculture & agribusiness, aviation, commodities & trading, construction, education & research centers, energy, finance, banking and insurance free zone management government, healthcare, Information Technology telecommunications Infrastructure investment, law & legal affairs logistics manufacturing marine & submarine mining pharmaceuticals, real estate & property development, tourism & hospitality, transportation and waste management.
The AIM 2015 Workshops will feature key presentations addressed by global FDI experts, offering a comprehensive overview of investment related topics. The informative approach of business facilitation will be combined with a tactical review of operational requirements through practical case studies.
On the eve of the main event, there will be a Thought-Leadership Conference highlighting the effective path to inclusive growth, with a focus on incomes and living standards, by building new links with the global economy and attracting FDI that brings with it new technologies. Participants will learn about latest trends in foreign direct investment at the global and regional levels through the launch of the second edition of AIM Investment Report 2015.
The second edition of the AIM Investment Report will be presented on 30 March 2015.
AIM 2015 will address many pressing issues such as the policies and the regulatory frameworks needed, including balanced intellectual property rights to effectively leverage FDI as a mean to achieve transfer of technology; the equity and non-equity forms of global firms that favour transfer of technology, know-how and skills; Trends in FDI-related R&D and how to attract them and integrate global knowledge networks and role of incentives in attracting asset seeking FDI and best practices.
Al Shezawi said: "Global growth is still slow, where there is now a shift in the process of growth, according to the latest edition of 'World Economic Outlook' report prepared by the International Monetary Fund. The Fund had predicted average global growth of 2.9% in 2013. Attendees confirmed that the emerging markets for the first time attracted foreign direct investment higher than advanced markets, with a share of 52%."
AIM 2014 attendees included 56 ministers and deputy minister. It was spread over ??8000 sqm and was attended by more than the 11,356 people and 469 exhibitors from 112 countries. It was also supported by knowledge partners, 23 commercial partners, 115 media partners, 75 investment promotion agencies. The conference was attended by more than 100 international expert and specialist in FDI.
The country-wise participation was as follows: 1% from North America, 1% from South America, 12% from Africa, 62% from the Middle East, 13% from Asia, 4% from Western Europe and 7% from Eastern Europe.