Project Release Study Tour to UAE 24-27 October 2022

The EU-funded Investment Promotion and Project is Business Linkages Project (The Project) supported the Ghana Investment Promotion centre (GIPC) on a study tour to UAE.

 

The main host for the study tour is Dubai Investment Development Agency (Dubai FDI), UAE Department of Economy and Tourism.

 

The study tour took place from 24^th to 27^th October 2022.

 

The GIPC study tour participant were:

• Kwame Kesse-Agyepong – Deputy Director (Investor Services Division).
• Seyram Amakpah-Azasu – Principal Investment Promotion Officer (Corporate Affairs Division).
• Emmanuel Asamoah-Okyere – Senior Investment Promotion Officer (Monitoring Information Systems [MIS]).
• Edmund Onyame – Senior Investment Promotion Officer (Research Division).
• Vivian Ampadu – Senior Investment Promotion Officer (Aftercare Division).

The GIPC study tour participants were accompanied by the Project Investment Promotion Expert, Sean Duggan.

 

The aim of the study tours was for the GIPC participants to gather information on:

• The mandate, organisation, functions, and operations of best practice investment promotion agencies (IPAs).
• International best practice and experience in investment promotion and retention, especially post-COVID19.

During the study tour the GIPC participants held meetings and technical discussions with representatives from:

• Invest in Sharjah (https://investinsharjah.ae/en/). Invest in Sharjah is Sharjah’s investment promotion agency and a strategic partner for global investors looking to grow their business in the emirate.
• Dubai Chamber of Commerce & Industry (https://www.dubaichamber.com/en/home/) . Dubai Chamber is a non-profit public organization whose mission is to represent, support and protect the interests of the business community in Dubai.
• Dubai FDI (https://dubaifdi.gov.ae/Default/en). Dubai FDI, part of the Department of Economic Development in Dubai, provides information and support to foreign businesses looking to invest in Dubai’s economy and take advantage of its global strategic position.
• DMCC (Dubai Multi Commodities Centre) (https://www.dmcc.ae/). DMCC is a free zone, established in 2002 to enhance trade flows through Dubai.  Financial Times fDi magazine, has ranked DMCC as ‘Global Free Zone of the Year’ for the 8^th year running.

GIPC’s discussions focused on gain exposure to and to better understand specific aspects of investment promotion practice, including:

• Use and reporting of Key Performance Indicators (KPIs) and performance measures.
• Improving web-based and e-based promotion practice (Web 2.0).
• Development and delivery of interactive data and mapping tools.
• Role and importance and success factors in the use of free and other special economic zones in the promotion “offer”.
• Aftercare and retention – embedding relationships and investors, becoming a “trusted” adviser, and supplier/business linkages development.

GIPC also used the study tour meetings and discussion as an opportunity to examine other aspects of investment promotion practice, including:

• Investor handling – enquiry and client handling practices, key accounts, and investor/client relationship management.
• Advocacy – issues identification, research and diagnosis, solution development, and engagement with networks to implement improvements.
• Leveraging partners as a promotion mechanism – use of partners and networks as investment promotion ‘multipliers’, sources of leads, and market/investor intelligence.