I have a shape file point layer with field "name" having attribute values e.g. 'city name'. I want these attribute values as text in v8 design file using FME. Any help please.
The simplest solution is to use the LabelPointReplacer transformer, using the name field as the attribute to use to define the label.
Then writing it to DGN should give you text.
You can use the attribute idgs_justification to specify the text justification - i.e. where the text is positioned in relation to the original point. Either the Readers/Writers manual or this article on the FME Knowledgebase shows what values to use (for example 7 is centre/centre, 2 is bottom-left).
If it's multi-line text and you want text nodes then that would be more complicated. Each line of text would need to go into a separate list entry. This article gives a good example of how to do that.