UAE seeks more Chinese investments in healthcare, logistics and real estate

With the Middle East and North Africa pharmaceutical market expected to be worth around $60 billion by 2025, "and the fact that 90 percent of drugs today in the Gulf Cooperation Countries are imported, it provides (an) opportunity for leading Chinese companies to come and tap into this market and leverage the government support and special programs that we have for this particular sector," Al Hammadi said.

Humaid Omran Al Shamsi, director of Real Estate Promotion Department at Dubai Land Department, said they are looking for long-term investments from companies and individuals. Despite the impact of COVID-19 on many sectors globally, the DLD did not stop its services as the sector kept pace with technological developments.

Mohamed Juma Al Musharrkh, chief executive of the Sharjah FDI Office, invited the audience to look at Sharjah, the third largest Emirate with a population of 1.2 million and 22 industrial zones.

He said the COVID-19 pandemic has prompted them to revise the sectors they are hoping to grow. So they brought in an international consultant to help them assess the situation. Apart from health, they aim to attract businesses in agrotech to aid the UAE's food security goals.

Faisal Jassim, Head of Proactive Sales at Jebel Ali Free Zone, or JAFZA, revealed that all goods sent to JAFZA, which is part of the DP World Group, can reach any of the GCC countries "in one day". He invited investors to consider JAFZA "during this time", reassuring the audience of the robust networks globally.

"If you are thinking of entering India during this time, you can consider JAFZA. A lot of clients (and) businesses don't even touch the local market, but the region," said Jassim.

John Cuncliffe, Strategic Business Development Director at Ras Al Khaimah Economic Zone (RAKEZ) notes that RAKEZ is one of the most cost-effective markets and is home to 40,000 companies where more than 200 are from China, including Hong Kong.

Other speakers at the webinar include Rania Krimeed, Head of Professional Services of Business Development at Abu Dhabi Global Market (ADGM); Marwan Al Naqi, Director of the Strategy and Corporate Excellence Department at Dubai Culture and Arts Authority; and Jaffar Bin Jaffar, Director – Sales and Leasing Operations – Asset Management Dubai Healthcare City Authority – Dubai Free Zones Council (DFZC).

The webinar was moderated by Robert Lee, External Affairs Committee Vice-chairman of the CGCC and Derrick Yip, External Affairs Committee Chairman of the CGCC.