Dubai 2003 host briefing event for the diplomatic corps in Abu Dhabi

Mr. Ibrahim Belselah, General Coordinator of Dubai 2003, hosted the high profile meeting and other guests included United Arab Emirates Government Officials, among them the Governor of the UAE Central Bank, H.E. Sultan Bin Nasser Al Suwaidi, members of the Dubai 2003 Organising Committee and other business and media leaders.

In September 2003 between 16,000 and 20,000 visitors, including heads of state, finance ministers and central bank chiefs in addition to business and finance leaders, are expected to attend the event that will highlight the potential of the UAE and the region to attract foreign investment.

The briefing held in Abu Dhabi included a presentation from Mr. Belselah that gave information for the ambassadors on how the logistical arrangements for Dubai 2003 would be done through the Joint Secretariat of the World Bank and International Monetary Fund.

Mr. Ibrahim Belselah said: "Dubai 2003 is the biggest and most significant financial event to ever take place in the region. The UAE will effectively be transformed into the Head Office of the world's financial sector. This is why it was important for us to meet directly with the ambassadors posted to the Capital, Abu Dhabi and to brief them on the impact of the event and the registration and visa processes involved.

"Dubai 2003 will have an enormous positive economic impact on the UAE and we also want to ensure that the international community understand the opportunities the event offers to companies already operating in the region and to potential new investors.

"The calibre of people who will be coming to Dubai represent immense opportunities for us to promote the UAE as a major regional economic hub. We are convinced that when bankers and international financiers see for themselves the stability and economic health of the UAE it will encourage them to consider the country as a future location for investment."

Mr. Belselah said that the event would have both immediate and long term benefits with the impact on the hotel and leisure industry from the event to be in excess of Dhs. 1 Billion alone with significant spin off benefits for many other business sectors during the event.

During his presentation Mr. Belselah also outlined how Dubai was gearing up to implement the logistical framework required to ensure the success of such a global event. This includes the construction of a new convention centre that can accommodate 6000 delegates and working in partnership with the hotel sector to ensure the provision of 20,000 quality rooms for the event.

Dubai 2003 is being organised under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the UAE Minister of Finance and Industry who is Chairman of the event's Steering Committee and who has created an organising committee and ten special purpose committees to ensure the smooth management of the event.