ABU DHABI, April 23, 2002 (WAM)--The Dubai Development and Investment Authority (DDIA) has outlined four major action plans to attract local and foreign investments to develop Dubai into a world-class trade and finance hub, according to Mohammed Al Gergawi, Chairman. The plans include developing strategies that will attract and support large investments, provide them with significant incentives and facilitate speedier licensing for new businesses, according to reports in the UAE's dailies. The plans also include building, owning and developing new businesses and investment firms either individually or in cooperation with others. +The plans seek to achieve greater progress in technology and telecommunications, offer more strategic opportunities for businesses, develop the country's human resources and enhance social welfare. +We are also working on offering new investment opportunities for local companies to network with major global companies and partner with them.+ In collaboration with major international partners, DDIA will conduct feasibility studies for projects highly beneficial to the UAE economy. Once approved, they will be marketed locally, regionally and globally by DDIA. Investors and partners will be invited for participation. +This will help create successful new businesses, establish new partnerships and synergise local and global resources,+ Al Gergawi noted. DDIA will actively promote small and medium enterprises (SMEs) and help their business expand regionally and globally. +DDIA will help them diversify their businesses by developing new value-added products and services,+ he said. MORE WAM-VV
