Expanding infrastructure is our target – Dubai Chamber President & CEO

Dubai Chamber of Commerce and Industry’s President and Chief Executive Officer, H. E. Hamad Buamim,

The Dubai Chamber of Commerce and Industry’s President and Chief Executive Officer, H. E. Hamad Buamim, says Dubai and the gulf region is strategically positioned do more with Ghana in the area of trade, which is to help government to achieve its target of massive infrastructural development.

According to the President and Chief Executive Office of the Dubai Chamber, investors and the government of Dubai is focused on helping Ghana in particular and other African countries to reach their full potential, by building or providing the needed infrastructure which is basic in transforming a nation.

Speaking to the B&FT in Dubai ahead of the two-day 4th Global Business Forum on Africa, today November 1st-2nd, the Dubai Chamber of Commerce and Industry President and Chief Executive Officer said Dubai is currently better-positioned to help Ghana and other African countries build infrastructure which is key in any country’s development, as it sees Ghana as the entry point into West Africa.

“We see infrastructure as one of the big areas to invest in, and it is one of the areas that is going well. As a nation we want to ensure that Ghana and other African countries have better infrastructure, which will open them up for businesses from here to be able to set-up and do business in other parts of the region. We’re going into 2018 and will partner governments to build their infrastructure; and it will interest you to know that there is funding from countries like the UK available to construction firms from Dubai.

“These funds are expected to be used to fund local government infrastructural projects in Africa. This is because most of these foreign governments may have the money but they do not know how to mobilise in Africa, and therefore they depend on us to do that for them. This is a win-win for all the players, as we are able to use our expertise to attract funding from the UK to solve the infrastructural gaps in Ghana and Africa,” Buamim said.

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He therefore further stated: “Another thing I will talk about is in the areas of Agriculture and Health. The gulf region imports US$50billion of food – with the biggest being Saudi Arabia, followed by Kuwait. which is almost 10% of all imports of the gulf region.

“There is also a focus on the digital economy, as we have realise that citizens from Dubai will not have a problem investing in something which is technologically based in areas like financial services,” H. E. Hamad Buamim hinted.

The Dubai Chamber of Commerce and Industry represents, supports and protects the interests of Dubai’s business community – doing so by creating a favourable environment; promoting Dubai as an international business hub; and by supporting development business for its members in and outside Dubai.

Commenting on the 4th Global Business Forum on Africa – a Dubai conference on November 1st-2nd, 2017 – Buamim said economies are experiencing robust growth, and described Africa’s rising middle-class and rapid urban growth as two key trends that are creating exciting prospects which companies in the UAE stand to benefit from.

Meanwhile, Chief Executive Officer of the Ghana Investment Promotion Council Yofi Grant has reiterated government’s focus on a Ghana built by Ghanaians for Ghanaians, with mutually beneficial partnerships across the world.

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Mr. Grant was of the opinion that investors are given the right view on Ghana, stating that local investors or Ghanaian enterprise must be supported to truly take the commanding heights of the economy, with a bigger focus on value addition and production for Ghana to become the business hub of West Africa.

Global Business Forum

This year’s programme is expected to see participants, including government officials, policymakers, business and finance leaders, and entrepreneurs from across Africa and around the world all converge at Dubai’s Madinat Jumeirah under the theme ‘Next Generation Africa’ and bring together over 1,000 top-level officials from both the public and private sectors – including top-level government and corporate decision-makers, African heads of state, ministers and dignitaries, prominent CEOs, heads of private banks, sovereign wealth funds, private equity firms, government officials, business leaders, and entrepreneurs.

During the event, delegates will explore the potential of leveraging technology to accelerate growth in Africa, and discuss trade and investment opportunities that are opening up across the continent.

Public and private sector stakeholders from African and GCC countries will highlight recent economic trends, and identify mutual areas of cooperation and growth opportunities in key sectors that offer the most potential for foreign companies and investors.

In addition, the high-level forum will examine the role that Africa’s dynamic young entrepreneurs can play in tackling economic and societal challenges, and explore potential for forming long-term partnerships with the aim of filling market gaps and fuelling growth.

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