The Governor of the Dubai International Financial Centre (DIFC), Dr. Omar Bin Sulaiman, has told a high-level audience of international and regional decision-makers that the Middle East and China must focus on exploring opportunities for increased bilateral trade and investment.
In his address to the FT China-Middle East Summit, which was held at the DIFC on Monday, bin Sulaiman noted that China is the third largest exporter in the world, after the US and Germany.
"In its move to cement this growth, China is actively seeking foreign direct investment into several aspects of its economy, including research and development centres, new high-tech industries, advanced manufacturing, energy conservation and environmentally friendly sectors, and agriculture," he observed.
“On this side of the world, the region is home to significant liquidity as a result of the second oil boom and widespread economic diversification. Institutional and individual Middle Eastern investors are on the lookout for investment opportunities outside the region, which will offer them high returns on investment," he added.
Citing a recent research report by McKinsey, the DIFC Governor said that much of the US$250 billion that the GCC states will invest in Asia over the next five years could go to China.
"Over the same period, Middle Eastern economies are forecast to spend more than $500 billion on major infrastructure projects, agriculture, education, health care and IT, with Chinese companies potentially among the main contractors," he added.
“The synergy between China and the Middle Eastern economies is clearly evident from the growing trade between the two regions. We at the DIFC look forward to working closely with individuals and institutions from China to explore a host of business opportunities and grow this relationship further," bin Sulaiman concluded.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment