Media ININ Economy We Trust
Media IN/Abu dhabi/ 6th May, 2019 (WAM)
Today Dubai Science Park (DSP), a holistic science-focused community that provides support and a business-friendly ecosystem for entrepreneurs, SMEs and international companies active in the sciences, energy and environment has signed a partnership agreement with 1792 Partners, a global advisory and venture firm focused on bridging the gap between health technology innovators in the UAE and the United States, US.
The Memorandum of Understanding, MoU, aims to enable collaboration opportunities between the DSP and North American business ventures and will also, make it easier for American companies to gain a foothold in the growing Middle East and North Africa (MENA) regions.
The UAE has been the largest trade partner of the US in the MENA region for the past 10 years, an indicator of the strong trade relations between both countries. In 2018, total cross-border trade between the two countries exceeded US$24.5 billion while US investments topped the table in Dubai, registering 37 percent of total investments.
The agreement was signed during high level business mission to the state of California led by Dubai Investment Agency (Dubai FDI) and Dubai exports aimed to strengthen trade relations between the UAE and the US, and raise awareness about the benefits of doing business in Dubai among foreign companies in line with the goals of Dubai plan 2021.
The Managing Director of Dubai Science Park and Chairing Member of the Pharmaceuticals and Medical Equipment Task force of the Dubai Industrial Strategy 2030, said, “As a growing business hub, DSP offers companies access to a wide range of offerings such as an easy business set up, a collaborative environment for networking opportunities as well as access to industry information. This helps companies to grow from incubation through to purpose-built manufacturing or R&D facilities.”
The delegation was headed by the CEO of Dubai FDI, together with the support of the Consulate-General of the UAE in Los Angeles, the Trade and Commercial Office of the UAE Embassy in Washington and the US-UAE Business Council. The mission sought to promote the advantages available to companies looking to invest in and partner with Dubai in key sectors, such as technology, advanced manufacturing, aerospace, fast-moving consumer goods, life sciences and logistics.
