The Indian Business and Professional Council has signed a Memorandum of Understanding with the Annual Investment Meeting (AIM) to confirm their participation as an "Official Supporting Partner" for the event, to be held at Dubai World Trade Centre between 11-13 April.
This is the first collaboration between the two organisations and is aimed to forge strategic relations between India and the UAE as well as the international investment community.
The MoU was signed by Kulwant Singh, President of the IBPC and Dawood Al Shezawi, CEO of the AIM.
James Mathew, Secretary General of IBPC; Bindu Suresh Chettur, Board Member of IBPC; Walid Farghal, Director General of AIM; Paras Shahdadpuri, Board Member & Past President of IBPC; and Dr. GM Bajpai, Vice President of IBPC were also present at the signing ceremony which took place at the Dubai World Trade Club.
This MoU reinforces the goal of providing an effective platform to Indian businessmen and professionals to network and exchange information related to business opportunities in India and UAE. It affirms the commitment of both parties to work together in promoting an environment conducive for businesses to flourish and fostering harmonious relations that will induce further investments.
Organised with the UAE Ministry of Economy, the AIM is a premier three-day FDI-focused event held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. The event will include a thought leadership conference, an exhibition, a ministerial roundtable, global leaders' debate, country presentations, capacity building workshops, and bilateral government-to-government, government-to-business, and business-to-business meetings.
Every year, the event draws in the participation of over 120 countries, over 100 heads of states and governments, 15,000 businessmen and investors, and announcements of multiple projects worth billions of dollars.
'The New World of FDI, Key Features and Best Practices' is the theme for AIM 2016. This upcoming 6th edition will be the largest and most diverse to date where high-profile government and private sector representatives will convene and address several investment-related issues and activities. The discussions will cover policies and regulations pertaining to new forms of FDI.
IBPC President, Kulwant Singh, is optimistic about the prospects of fostering a better relationship between the government and private sector pertaining to establishing and maintaining businesses in the UAE. "We feel that if challenges are addressed, more investors from India will be encouraged to come into the country. If we can overcome the obstacles we are facing, we can grow far better," he says.
Paras Shahdadpuri, IBPC Board Member & Past President added, "It is important to have a consultative mechanism wherein the government and the business community can have open lines of communication in order to support one another." This kind of cooperation between government and private sector can be made possible according to Dawood Al Shezawi, CEO, AIM.
According to Shezawi, "There is much awareness that the private sector and SMEs play an important role as engines of growth, and the Indian business community is definitely one of the largest and most influential groups in the UAE which deserves much attention. He added: "AIM 2016 will tackle the importance of new sources of foreign direct investment, even those coming not only to but from emerging economies, India being one of the fastest growing economies in the world. It is thus timely to discuss the policies and best practices that will promote and encourage such investments."
In addition to this, AIM Director General, Walid Farghal, said, "One of the major goals of AIM is to serve as a strategic platform to connect businesses globally and support them in meeting potential partners and financiers and establishing business wherever it is conducive to do so. There is much opportunity for investment deals here in the UAE and all over the world as long as fair policies are discussed and best practices are observed."
Through this partnership, IBPC is able to work towards its mission to provide a quality networking forum for its members and AIM is able to offer a safe and effective platform for Indian businessmen and professionals to present their investment projects and schedule G2G, G2B and B2B meetings with institutional, corporate and private investors seeking lucrative and reliable projects for their capital.
"IBPC is pleased to partner with AIM as we understand the importance of collaborative discussions between government and the private sector. It would be good to have a venue where the government together with the UAE business community can have more interaction with the Indian business community in order to have a deeper understanding of one another, to boost confidence among investors," Singh said.
"This partnership with AIM is well timed as India especially over this past year has attracted so much FDI but at the same time, its local companies, businessmen and professionals have also been investing in other countries, which includes UAE and we believe it has contributed a great deal towards Dubai's economic growth and development as well," Shahdadpuri added.
As India continues to rank among the top 5 emerging and developing economies in the world, the valuable exchange of ideas, professional knowledge and sharing of best practices in AIM 2016 in partnership with government bodies, key institutions and international organisations will reinforce the common goal towards achieving mutually beneficial relationships.
AIM is currently in discussions with business councils in UAE to collaborate and support the upcoming edition of the event.