HE Eng Hamad Bumaim, Director General, Dubai Chamber of Commerce & Industry, yesterday (Thursday) received an Italian delegation headed by Dr Domenico Arcuri, the CEO of the Italian National Agency for Investments Attraction, "Sviluppo Italia", during a road show held under the patronage of the Italian Embassy in the UAE.

The “Business Opportunities in Italy” event, also attended by HE Paolo Dionisi, Italian Ambassador to the UAE, officials of the Italian Ministry of Foreign Affairs and the Press, presented high profile investment and business opportunities in the fields of tourism, real estate and logistics in Italy. Acquisitions of top hotels and resorts in major touristy locations in Italy as well as financial participation in Italian ports and logistics platforms were put in front of UAE investors and businessmen.

Said Buamim, “We welcome the high profile delegation that is here to present business opportunities available in Italy. This significant visit will definitely help bring the two trading partners’ businessmen closer and also help strengthen the trading ties between Dubai and Italy, and while the delegation is here we would also like them to look at the investment opportunities available in Dubai as the emirate’s open door and free trading policies have a lot to offer to Italian investors and businessmen.”

He pointed out that Dubai’s non-oil foreign trade with Italy reached AED 11.085 billion in 2006. There are 155 Italian companies operating in Dubai and are registered with the Chamber. Dubai also hosts one Italian business council and two trade commission offices that help in indulging the Italian businessmen into Dubai business community and in attracting their investments. Dubai Chamber had also signed four MoUs and agreements of

HE Paolo Dionisi said the event is part of the two countries' strategy in further boosting trade and investments in various sectors. “Italy beckons the UAE investors looking for acquisitions of top hotels and resorts in some of the best locations Advertisement
in the country as well as financial participation in Italian ports and logistics platforms that are the highlights of the presentation at the road show aiming to attract more UAE investors to appropriate incentives and 5-star opportunities, within the framework of the strategic economic partnership between Italy and the UAE.”

The Italian ambassador also urged Italian businessmen and investors to explore investment opportunities in the UAE.

Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates.