Today's Edition
SARA ALZAABI (ABU DHABI)
As a global hub for trade and investment, the UAE opens opportunities for businesses across borders and, currently, certain sectors in focus, an official from the Ministry of Economy said on Monday during the opening of the AIM Congress. With an emphasis on foreign direct investment - both inward and outward - alongside the UAE's role as a central export and trade hub, the ministry has identified strategic sectors that correspond to national priorities.
Enumerating some of these sectors, Rashed Al Teneiji, Director of International Business Development and Trade Promotion at the MoE, said: "The country is interested in AI, food security, infrastructure, logistics. There are many projects within those sectors."
"As a ministry, we promote sectors - major sectors - and we focus on presenting them to investors. We don't discuss the details of specific projects, though the sectors are of interest. We connect international investors and local investors and facilitate these kinds of meetings. So, our goal as a ministry is not to promote a specific project, but rather to promote sectors - important sectors - and highlight the country's strategic focus on those sectors," Al Teneiji said.
The MoE serves as a bridge that connects the international community to the local community and industries, he said.
"As a general statement, the UAE is looking forward to opening the market, opening trade and investment opportunities, and reducing tariffs and restrictions on doing business across borders," the official added.
The UAE is an open economy, he stressed. "We are welcoming the open direction of doing business with everyone, and for that, we are signing Comprehensive Economic Partnership Agreements (CEPAs) with major countries around the world."
Eight of the UAE's landmark CEPAs have so far come into force, with the latest trade pacts with Costa Rica and Mauritius added to the list early April. The recent development follows the successful roll-out of CEPAs with India, Türkiye, Indonesia, Cambodia and Georgia since the launch of the programme in 2021.
14 Years of AIM Congress
AIM Congress, the world's leading investment platform, has been instrumental in promoting the UAE as a major global hub for business, Al Teneiji said.
"The AIM Congress is a major platform. It was established 14 years back. We, as a ministry, have sponsored this event for the past 14 years, and it has always been an important platform for investment exchange between the UAE and other countries," he said.
He added that AIM is an essential link between the global and local business investment communities, becoming a platform for the exchange of trends, key industry insights, and opportunities, while also allowing countries to present investment opportunities in their markets.
"As a ministry, we always participate here to promote the UAE as a business hub, an FDI source, and an FDI attraction destination as well. We consider the Annual Investment Meeting - the AIM Congress - a platform for us to reach out to the business community that is interested in investment, whether in terms of FDI outward or FDI inflow," Al Teneiji said.
AIM Congress is not only a venue to promote investment opportunities within the UAE and those that the country can be part of, he said. "[It also highlights the UAE] as a hub for trade and investment - and as a haven and safe haven for investment and wealth."
