Italian business delegation explores investment opportunities in media cluster

The delegation was led by Dr. Giuseppe Marra, owner and chairman of Giuseppe Marra Communications, one of Italy's leading media groups and included Maurizio Romiti, CEO for the investment bank Pentar and former managing director of Italian media group RCS.

Accompanied by Paolo Dionisi, Italy's ambassador to the UAE, the delegation was welcomed by the free zone's senior management officials who briefed the visitors on facilities and business incentives offered by Dubai Media City. Investment opportunities at DMC's sister concerns: Dubai Studio City (DSC) and the International Media Production Zone (iMPZ) were also highlighted during the meeting.

Dr. Amina Al Rustamani, Executive Director of Media, TECOM Investments, said: "There is a growing interest among European companies in Dubai as a strategic gateway to the region. The strong infrastructure and business friendly environment have positioned Dubai as a preferred destination for leading European companies eyeing regional markets."

Mohammed Al Mulla, Director of Dubai Media City, revealed that European companies constitute around 35 per cent of DMC's 1,200-plus companies.

"Dubai Media City offers attractive business incentives for European media companies. With its top-class enabling services and media-friendly facilities, Dubai has become the first choice for many European companies seeking to establish regional presence in this part of the world," he said.

Giuseppe Marra Communications is a multimedia publishing group comprising 12 companies. This includes ADN Kronos International (AKI), Italy's leading independent news agency, providing news services in Italian, English and Arabic and aims to facilitate greater information exchange, research and dialogue between Italy, Europe and the Islamic world.

The delegation was briefed on Dubai's strategic location, providing an ideal gateway to 2 billion people with a GDP of US $6.7 trillion, extending from the Middle East to the Indian subcontinent, and from Africa to the CIS.

Dubai's media cluster has evolved dramatically over the past six years. Business friendly regulatory frameworks and the world class technological and real estate infrastructure have prompted more than 1200 regional and international media companies to set up operations in Dubai Media City. Dubai Studio City and the International Media Production Zone are two new platforms that have been launched to further strengthen Dubai's position on the global media scene.