African officials, including four heads of state, convened with international CEOs at a Wednesday (November 1st) summit in Dubai, part of its push to position itself as a link for huge potential investments on the continent, AFP reported.
"We are looking at the fastest growing economy of the world," said Hamad Buamim, president and CEO of the Dubai Chamber of Commerce and Industry. "Six out of the top 10 fastest growing economies are just next to us in Africa."
Experts at the opening of "Next Generation Africa", Dubai's fourth Global Business Forum on Africa, said the continent's 54 countries require tens of billions of dollars in investment in infrastructure, energy and other sectors.
Emirati officials hope investment will be channeled through Dubai.
"We believe that Dubai's strategic goals can be aligned with Africa's ambitions as it enters a new phase of development," said the Dubai chamber chairman, Majid Saif al-Ghurair.
The number of African companies registered in Dubai jumped to 17,000 last year, an increase of 41% from 2015, according to Ghurair.
Trade volume between UAE and Africa totals around $35 billion and has been growing at a double-digit rate annually.
"We see potential of a growing economy that has a lot of future ... Africa is a great market," Buamim said on the sidelines of the two-day forum.
