Swiss chocolate maker Lindt & Sprungli has opened an office in Dubai to serve its distributors across the Middle East, Africa and the Indian sub-continent, state news agency WAM reported.
Dubai FDI, the investment development agency of the Department of Economic Development and company solutions provider Corporate Business Services (CBS), facilitated the move, a statement said.
“Lindt & Sprungli moving to Dubai has varied implications for the company as well as for the emirate and its vast catchment that includes Middle East, Africa and the Sub-continent,” said Fahad Al Gergawi, chief executive officer of Dubai FDI.
“It underlines the significance of Dubai as a supply chain hub in the region and a magnet for investors across varied geographies.”
Graeme Bradstock, head of region, Lindt ‘&’ Sprungli said: “Being based in Dubai allows us to reach all of the parts of our large territory, and one of the main factors in our choice of location was the exceptional communications infrastructure that Dubai provides.”
Al Gergawi said that a growing number of multinational firms are looking to set up offices in Dubai due to the ease of doing business in the city and the connectivity it offers.
He added the Dubai’s Expo win will help the emirate attract more high profile investors in the long term.
Dubai FDI has assisted companies from sectors such as trading, manufacturing, hospitality and oil and gas to set up in the emirate.
“Over the past three years Dubai FDI has assisted nearly 470 companies, from varied sectors, to set up in Dubai,” said Al Gergawi.
“The net investment brought in by these firms is around Dhs9.56 billion. The Expo would not only create new demand but also attract investments through introducing the advantages of doing business in Dubai to a large international audience.”
The UAE expects to attract foreign direct investments (FDIs) worth $14.4 billion in 2014, up almost 20 per cent from its current FDI levels.
The country also aims to become the best in terms of ease of doing business worldwide, as per the National Agenda that outlines the country’s objectives over the next seven years.
The UAE was ranked 14th on the latest A. T Kearney Global Foreign Direct Investment Confidence Index (FDICI), which measures present and future prospects for FDI flows.
The Gulf state’s investor friendly legislation and easy access to fast growing Middle East and African markets have made it a hub for foreign investments, the report said.