Easing restrictions on entering markets, foreign investment and supply chains ... The priorities of the current stage
Economy: Emirati investments provide 116,000 jobs in the United States
Al-Eqtisadiah began implementing a plan to implement more open and flexible systems for the state's markets.
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Abdullah bin Touq: "We aim to support and develop small and emerging enterprises, and to introduce them to a new stage of global competition."
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Economy Minister Abdullah bin Touq Al-Marri confirmed that the ministry's priorities at the current stage are to ease restrictions on entering the UAE markets, support foreign investment, and support local supply chains.
He revealed in a hypothetical conference organized by the US Embassy in Abu Dhabi yesterday, that Emirati investments in the United States and trade relations between the two countries provide more than 116,000 jobs in the United States.
The priorities of the "economy"
In detail, Economy Minister Abdullah bin Touq Al-Marri revealed that the ministry's priorities at the current stage are to ease restrictions on entering the UAE markets, support foreign investment, and support local supply chains.
He stressed that the Ministry of Economy began implementing an ambitious plan to implement more open and flexible systems for state markets, by eliminating red tape, opening new markets for exports, and increasing trade with the world, while preserving the country's leading position as a logistical center for international trade and investments in the world.
Bin Touq said at the virtual US-Emirati Infrastructure Conference, organized by the US Embassy in Abu Dhabi, yesterday, that the ministry aims to support and develop small and emerging projects, increase their number, and bring them into a new phase that enables them to compete globally.
He stressed the importance of the new UAE policy in attracting talents to live in the country, explaining that the immigration policy is primarily an economic policy, to ensure that newcomers to the UAE will be partners in development by supporting the UAE vision and investing in it.
UAE investments
Bin Touq revealed that Emirati investments in the United States, and trade relations between the two countries, provide more than 116,000 jobs in the United States, and also provide liquidity in the financial markets, which supports innovation and development in various sectors of the American economy.
He pointed out that the UAE is the first market for US exports in the Middle East and Africa for 12 continuous years, and there are 1,500 American brands in the Emirates, noting that the trade relations between the two countries are strong and varied and cover all US states.
He added that the bilateral partnership relations cover various fields, foremost of which are space, defense and advanced technology, which drives growth and development in the two countries, revealing an official visit to be made to Washington next June to explore more cooperation opportunities.
He revealed that the economic team in the government is currently looking at developing business opportunities and areas of cooperation between the two countries, stressing the importance of doubling American companies operating in the UAE by the end of this year.
Mubadala Investments
For his part, the CEO of the investment sector at Mubadala Investment Company, Musabbah Al Kaabi, said that Mubadala has invested more than $ 100 billion (368 billion dirhams) in the United States over the past years, and offices have also been established for Mubadala in San Francisco and New York. They are essential pillars of the company's comprehensive strategy, stressing that the past 12 months have confirmed the importance and value of cross-border partnerships, and the need for international cooperation.
Al-Kaabi stressed that Mubadala is committed to pumping long-term financial returns to its shareholders and focuses on investing in sectors that meet the needs of the future, foremost among which are life sciences, medical technology, artificial intelligence and clean energy, in order to meet global growth and pressing social challenges.
He pointed out that some sectors will take longer to recover as a result of the effects of the "Covid-19" pandemic, while other sectors, such as health care and technology, will enter a stage of growth as a result of the pandemic.
Al-Kaabi pointed out that «Cleveland Abu Dhabi Health Care» is evidence of the successful US-Emirati partnership, pointing out that more than 475,000 people have received treatment in the hospital, and that they have benefited from this partnership.
The largest investor
In the same context, Acting Under Secretary of the US Department of Commerce for International Trade, Diane Farrell, said that the UAE is the largest investor country in the United States, stressing that relations between the two countries will witness further growth during the coming period, especially as the UAE is a major center for business, trade and investment in the region. .
She pointed to great opportunities for cooperation between the two countries in various fields, including the digital economy, space, health care and financial services, stressing the importance of exploring new opportunities for cooperation and increasing the volume of trade and investment between the two countries.
Expo 2020 Dubai is a tremendous business opportunity
The Head of Mission of the United States Embassy in the Emirates, Chargé d'Affairs, Chargé d'Affairs, Sean Murphy, said that the UAE plays a major role in providing job opportunities in the United States, given that it is the largest investor in the American market.
He added that the United States is looking forward to participating in "Expo 2020 Dubai" this year, amid expectations that millions from 180 countries will participate in this important event, indicating that the exhibition is a tremendous opportunity for business and entry into new markets, and the growth of investment returns, especially with the vaccination of more than 50% of Residents are now, and large numbers of other people were vaccinated before the exhibition.
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