Dubai has taken another step toward becoming a global centre for thought leadership, strategic foresight and partnership with the launch of Hamdan Centre for the Future of Investment (HCFI), a global initiative that aims to promote the contribution of foreign direct investment (FDI) to sustainable development. Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai and the Chairman of the Executive Council launched the HCFI, that will operate under the umbrella of Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, according to state news agency Wam. The HCFI aims to present a global partnership model in providing a thriving investment ecosystem that keeps pace with global shifts towards sustainable investment and new forms of investment. Dubai FDI is building a value network of national, regional and international professionals, strategic partnerships with the local and international investor communities and cooperation platforms with regional and international organisations, financial institutions and research centres, Wam said. The launch of the Centre is in line with Dubai's strategy of developing programmes and initiatives that will enable the emirate to remain globally competitive and attract innovative investment models, especially, in technologies that drive Smart Cities, the Fourth Industrial Revolution and Block Chain applications. "Introducing, a first-of-its-kind, integrated framework to develop ‘Impact FDI’ standards and projects will further enhance Dubai’s unique advantages as a globally recognised and preferred FDI destination," Sheikh Hamdan said. HCFI will commence its activities with three main programmes under the ‘Impact FDI’ theme. The first is the ‘Impact FDI Thought Leadership and Strategic Foresight Programme’, which aims to establish new terms of reference that differentiate the ‘Impact FDI’ framework and its role in shaping a sustainable and prosperous future. The second features the ‘Impact FDI Partnership Programme,’ aimed at establishing local, regional and global partnerships to promote greater private sector contributions to achieve the global Sustainable Development Goals (SDGs) and accelerate capital flows into SDGs-oriented FDI projects. The third is the ‘Impact FDI Index Programme,’ which aims to provide data analytics and evaluation tools to measure the economic, social and environmental impact of ‘Impact FDI’ projects.
