WETEX 2024 To Highlight Dubai’s Prime Business Environment For New Corporate Bases

The 26th Water, Energy, Technology, and Environment Exhibition (WETEX) will host workshops and panel discussions. These sessions will focus on the incentives Dubai offers to companies aiming to set up new headquarters or branches in the Emirate. This initiative responds to the rising inquiries from global firms about establishing a presence in Dubai.

Dubai Electricity and Water Authority (DEWA) announced that these workshops would highlight Dubai's flexible regulatory frameworks, diverse investment options, and robust digital infrastructure. The aim is to showcase the city's safety, security, and business prospects, positioning Dubai as a global investment hub.

DEWA organises WETEX under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum. The event will take place from 1st to 3rd October at the Dubai World Trade Centre. Saeed Mohammed Al Tayer, MD & CEO of DEWA and Chairman of WETEX, stated that WETEX serves as a platform for understanding market needs and exploring future projects.

Al Tayer noted that DEWA has attracted significant investments through its Independent Producer model. This model has drawn investments worth AED43.6 billion over ten years. It has also enabled DEWA to achieve the world's lowest Levelised Cost Of Energy (LCOE) in solar energy projects.

Additionally, the Dubai Green Fund was launched to provide innovative financing solutions for green projects. DEWA continues to explore new financing mechanisms to encourage spending on sustainable infrastructure.

Expo City Dubai's Role

Expo City Dubai offers an enabling Free Zone environment and digital platforms promoting connections and knowledge-sharing. It supports cross-sector collaboration in areas like creativity, education, innovation, and mobility with a commitment to sustainability.

Reem Al Hashimy, Minister of State for International Cooperation and CEO of Expo City Dubai Authority, said Expo City Dubai is committed to driving progress for people and the planet. She emphasised that events like WETEX are crucial for engaging investors interested in doing business in Dubai.

Sustainability Initiatives

Abdulla Al Hashmi, Chief Operating Officer at DP World GCC, highlighted their commitment to sustainability. He mentioned that DP World aims to reduce its carbon footprint by 42 percent by 2030 and achieve net zero by 2050. They have already cut emissions from UAE operations by nearly 50 percent using renewable energy from DEWA.

He added that Jafza's sustainability initiatives include advanced energy and water savings measures and the region's largest rooftop solar installation. These efforts demonstrate their dedication to climate action.

Dubai's Global Standing

According to Financial Times Ltd’s "fDi Markets," Dubai ranked No.1 globally in attracting Greenfield Foreign Direct Investment (FDI) projects in 2023 for the third consecutive year. In 2023 alone, Dubai attracted 1,650 foreign investment projects worth over AED39.2 billion, creating around 45,000 jobs.

The UAE offers investors more than 40 multidisciplinary free zones where expatriates can have full ownership of companies. These zones feature efficient infrastructure and distinct services that facilitate smooth workflows.

Al Tayer explained that DEWA attracts both public and private sector investments due to its competitive business environment showcased through WETEX. He remarked on growing interest from investors after gaining insights into Dubai's business landscape at WETEX.

This year's WETEX will further solidify Dubai's status as a leading destination for living, working, and investing globally.

With inputs from WAM