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Abu Dhabi, May 8 / His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, welcomed the international investment community at the Annual Investment Forum 2023, which kicked off today at the Abu Dhabi National Exhibition Center “ADNEC” under the patronage of His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince The era of Abu Dhabi, Chairman of the Executive Council, and the forum will last for three days, with the participation of delegations from 175 countries to exchange visions and ideas and build consensus among a wide range of investors, decision makers and business leaders on achieving comprehensive, sustainable and long-term economic growth through investment opportunities.
In his opening speech during the launch of the current session of the forum, His Excellency Al-Zeyoudi stressed the essential role played by smart and directed investment in advancing future industries and providing effective solutions to global challenges, from the flexibility of supply chains to the energy transition.
His Excellency highlighted the UAE’s policies that support business and its strategic location and world-class infrastructure, all of which help in attracting investments to vital sectors and establishing the country’s global ranking as one of the most attractive destinations for foreign direct investment in the Middle East and North Africa region.
He said, “We welcome in the UAE new ideas, businesses, and capabilities that would establish sectors of excellence capable of solving some of the most pressing issues in our world today,” explaining in this regard that “the UAE ranks first in the Arab world, and nineteenth globally in the report.” Global Investment 2022 issued by the United Nations, which highlights our position as a leading global center for investment, as in 2021 we attracted $20.7 billion in foreign direct investment, an increase of 4 percent over 2020.
His Excellency added, “We in the UAE continue to move forward and search for new paths and partnerships to ensure that investments are directed towards sustainable and socially responsible projects. In this context, this year’s Annual Investment Forum highlights the need for this new approach through the importance of creating a paradigm shift that focuses on promoting growth.” Fair and long-term prosperity and well-being for all. But as we move forward, we must work together to ensure that investment is not just a tool for making profits, but to have a positive impact on our economies, communities and environment.”
His Excellency Al-Zeyoudi emphasized this message during a series of bilateral meetings with senior government officials from around the world. His discussions with His Excellency Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, and His Excellency Rustam Minnikhanov, President of the Republic of Tatarstan, for example, focused on enhancing opportunities for New investment and building on non-oil bilateral trade between the UAE and Russia, which will reach ten billion dollars in 2022.
In addition, His Excellency Al-Zeyoudi held a meeting with His Excellency Vahan Keropian, Minister of Economy of Armenia, whose non-oil foreign trade with the UAE has seen a sevenfold increase since 2021, to reach more than $1.5 billion in 2022.
The two ministers discussed enhancing trade and investment exchange in sectors such as gold, diamonds, telephones, computers and cars. His Excellency Al-Zeyoudi also met with His Excellency Bernardo Ivo Cruz, Minister of State for Trade and Foreign Investment of Portugal, and His Excellency Luis Castiglione, Minister of Industry and Trade of Paraguay.
Strengthening bilateral relations with strategic allies around the world is a cornerstone of the UAE’s economic partnership agenda, which aims to accelerate trade and investment in high-growth sectors. On the first day of the forum, His Excellency Al-Zeyoudi launched a special event to celebrate the first anniversary of the Comprehensive Economic Partnership Agreement. Between the UAE and India, during which he revealed the significant impact achieved by the agreement in the 11 months since its implementation, as the volume of bilateral trade between the two sides reached $45.5 billion, an increase of 6.9 percent over the same period 12 months ago.
The Annual Investment Forum 2023 will be held at the Abu Dhabi National Exhibition Center “ADNEC” until May 10, under the slogan “Transformation in Investment Aspects: Future Investment Opportunities to Promote Sustainable Economic Growth, Diversification and Prosperity.”
The forum includes various activities, including an exhibition, meetings on investment, presentations on investment destinations, investment awards and awards for emerging companies, in addition to the investor center and meetings between representatives of governments and companies.
