UAE-Morocco deal to hold Annual Investment Meeting (AIM), Africa Chapter, in Marrakesh from 29-31 October 2017
AIM seeks to penetrate Africa to boost FDI in the Dark Continent
Dubai, UAE, 13 November 2016: Dawood Al Shezawi, CEO of Annual Investment Meeting (AIM) Organizing Committee, signed today a strategic MoU with HE Ahmed Akhchichine, President of Marrakech-Safi region, Kingdom of Morocco to organise Annual Investment Meeting (AIM) – Africa Chapter, in Marrakesh on 29-31 October 2017 under the theme “The Future Investment Landscape of Africa: Sustainable Investment through Innovation and Partnership”.
The MoU was signed along number of officials from the Annual Investment Meeting and Marrakech Safi. By the virtue of this agreement, Marrakech will be the first to host Annual Investment Meeting outside the UAE, so that AIM can drive direct international investments to the continent and other promising markets in Africa. AIM reflects the UAE-Moroccan economic cooperation in particular and UAE-Africa cooperation in general.
Prior to its being held in Morocco, the 7th Annual Investment Meeting (AIM) is set to run from April 2-4, 2017, at the Dubai World Trade Center, under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with the theme “International Investment, Path to Competitiveness and Development”.
“We are delighted with our new partnership and the signing of the agreement with Marrakech Safi to host the Annual Investment Meeting for the first time outside the UAE. This reflects the prospering UAE–Morocco relations, especially at the economic level and direct investments. The agreement also demonstrates the great importance attached by international and UAE investors for the African market and their quest to expand investment there, which was evident over the past few years through numerous visits by delegations of the investment companies to a number of African countries,” said Dawood Al Shezawi.
Akhchichine commented: “As the host destination for the Annual Investment Meeting, Marrakech-Safi believes this is a great opportunity for the Kingdom of Morocco to boost its presence on the map of international investment and diversify the aspects of direct investment into the country and other African countries. This will provide new avenues for the diversification of industries, which is already pursued by the major global investment companies, led by leading UAE companies.”
“AIM – Africa Chapter 2017 will include a number of events, workshops and meetings between investors and government delegations as exhibitors will showcase the latest projects in the African continent, which represents enhance investment opportunities and present them to potential international investors. In addition, AIM will include organizing special trips to many locations within the city of Marrakech to promote tourism to strategic partners,” added Akhchichine.
Al Shezawi added: “Organising the debut of AIM in the Kingdom of Morocco in Marrakech-Safi is an important step as it will be hosted by Africa’s most dynamic markets. AIM will provide an attractive environment for reviewing promising African investment opportunities in many of the countries that have begun to achieve significant economic growth rates and become eager to attract more direct investments into diverse sectors.”
“AIM – Africa Chapter 2017 will provide an integral platform for the meeting of the world’s top investors and government officials from African countries to participate, enabling exchange of information on procedures, investment laws and convergence of views in order to provide a favorable environment for strengthening of relations that would stimulate more investment and address many of the issues and activities related to direct investment,” he added.
Al Shezawi stressed the important role of the UAE and its effective presence in the African market. The strong economic relations between the UAE and Morocco was evident over the last few years with the signing of 8 bilateral agreements, 11 agreements and four cooperation protocols covering many areas, including, for example, the establishment of a free trade zone between the two countries, an agreement on economic and trade cooperation in the field of telecommunications and information technology. In addition, UAE was the first investor in the Casablanca Stock Exchange in 2014, with an investment of 55 billion Moroccan dirhams.
He referred to many economic and investment areas between the UAE and Morocco, especially in renewable energy and green economy, and sustainable development.
The UAE – Africa relations have taken a new approach in the area of direct investments, which certainly will be supported by the Annual Investment Meeting in Marrakech. According to latest indicators, UAE is the fourth largest source of FDI projects in Africa in 2014, while United States still accounts for the largest share of the total direct investment projects in the continent. The retail trade is the biggest area for investments for UAE companies in Africa, especially in Egypt, where UAE investments reached $ 2.3 billion.
Africa is growing rapidly, with immense natural resources and favorable demographics, technology acceleration and intention to join the global financial system, attracting significant international interest.
AIM – Africa Chapter 2017, will highlight how Africa is transforming, what the new investment trends in the continent are, who are the main players and what are the rules of the investment game.
NEW DELHI—India’s government on Monday eased foreign-direct investment restrictions in several sectors to increase inflows, a move that also could pave the way for Apple Inc. to open its own stores in one of its main growth markets.
A surge in cross-border mergers and acquisitions boosted global foreign direct investment flows around the world last year to $1.76 trillion, the most since the 2008-2009 financial crisis, the United Nations said in a study.
The ‘Foreign Direct Investment in Latin America and the Caribbean’ 2015 report published by Economic Commission for Latin America and the Caribbean (ECLAC) showed that Mexico recorded inflows of US$ 22.795 billion in 2014. Brazil continues to be the largest recipient of FDI in the region, though inflows US$ 62.495 billion, while Chile remains the … Continue reading Organisers of Annual Investment Meeting 2016 call for building investment bridges between Middle East and South America
The role of foreign direct investment into the continent remains significant: on average the government budgets of African countries currently depend on corporates domiciled in other countries for 14% of their funding.
Africa is now positioning itself as a major business opportunity for investors, according to ICAEW’s latest Economic Insight report.
China’s outbound direct investment (ODI )is expected to surpass $1 trillion for the first time in 2015, as slowing economic growth and rising internationalisation of Chinese business see more local companies investing overseas.
When the PM travels to the US this week to woo businesses there, one of the key facts that the government will be tomtoming about is the surge in foreign direct investment since Narendra Modi took over and how his personal touch has helped.
Foreign direct investment (FDI) in Turkey reached $3.39 billion in July, according to a report from the Ministry of Economy on Sept. 30.
The total volume of foreign investments in the UAE, at present a regional base for over 500 international companies, exceeded $100 billion in the past 10 years, Minister of Economy Sultan bin Saeed Al Mansouri said on Wednesday.
NEW DELHI: India has emerged on top of the foreign direct investment league table, overtaking China and the United States, according to the FT data service.