DDIA to host OECD working group meetings on investment promotion in MENA region

The meetings will focus on how countries of the Middle East and North Africa (MENA) region can attract increased foreign investments and ensure greater transparency and good governance.

Richard Hecklinger, Deputy Secretary General of the OECD Secretariat, will open the Working Group meetings. Participants will include several notable speakers and senior representatives from MENA countries.

The DDIA is a member of The MENA-OECD Investment Programme, under which countries from the MENA region have been working closely with the OECD, World Bank, Arab League and other regional and international organisations to develop the initiative aimed at improving public governance and increasing investment in the region.

Mohammed Al Gergawi, Chairman of the Board of DDIA said that: "As an Investment Promotion Agency, the DDIA wishes to contribute to the successful economic development of the MENA region. Dubai and DDIA have extensive experience and success in promoting domestic and foreign investments and we are very willing to share our unique experience with other countries in the MENA area."

WORKING GROUPS
Working Group 1 will focus on 'Open and Transparent Investment Policies' and will be held on 1st and 2nd of February.

Working Group 1 aims at helping MENA countries to develop open and transparent investment policies. The working sessions encourage multi-stakeholder dialogue, experience-sharing and capacity-building in the region. Group 1 will also aim at reducing uncertainty and risk to investors through greater integrity of business transactions.

Working Group 2 will discuss the theme of 'Encouraging Investment Promotion Agencies and Business Associations to Act as Driving Forces to Economic Reform' and will be held on 2nd and 3rd of February.

Working Group 2 will contribute to building a positive image of the MENA region, through multi-stakeholder dialogue and sharing of good practices. It will also seek to identify success stories and assess weaknesses -- where OECD and other partners can help identify solutions and provide practical policy advice to governments.

"We are extremely optimistic about the outcome of the two Working Groups. I am sure that the support from the OECD and the pooling together of regional expertise will help the MENA region advance further in positioning itself as one of the most promising contenders for global foreign investment flows," added Al Gergawi.