Page 56 - MOE ENGLISH PR - MAY 2024

Press Release

The speakers were of the opinion that Investopia Europe plays a vital role in facilitating the
movement of different forms of capital across both government and private sectors. This, in turn,
contributes to empowering of investments that shape future economies. Additionally, it serves as
a source of encouragement for entrepreneurs to forge new business partnerships.

The speakers highlighted the significance of enhancing economic collaboration frameworks
between the Gulf Cooperation Council states and the European Union in the upcoming phase. The
objective is to establish new and promising investment prospects for the GCC and European
private sectors, which will contribute to the advancement of business growth and economic
endeavours in these nations.

During the Investopia Europe sessions, experts addressed the UAE's new economic model centred
around knowledge and innovation. Their discussions emphasized the unique prospects and
enablers this model offers to Italian and European businesses of varying scales. Moreover, this
model strives to foster a competitive landscape favourable for the expansion of SMEs.
Additionally, the experts underscored the UAE's economic significance and its strategic location
in bolstering global economic progress.

They outlined the vital role of the Mediterranean region in strengthening economic ties between
the Middle East and Europe and the significance of SMEs in driving economic growth. They
further highlighted the strategies for countries to collaborate through policy coordination and
economic partnerships in response to rapid global changes.

Participants highlighted that the transition towards sustainability poses a significant challenge for
both small and medium-sized enterprises. This challenge requires substantial investments in the
creative economy, technology, and AI sectors to effectively address this challenge. It is crucial to
capitalize on cutting-edge technologies and adhere to global best practices in developing creative
economy industries.
Moreover, Investopia Europe sessions highlighted the significance of fostering collaboration to
establish policies and develop a tourism experience that promotes sustainable tourism industry.
They emphasized the need for investing in professional training and education across various
sectors of the tourism, recognizing its vital role as a key contributor to economies around the world.

Experts reviewed the emerging trends in the tourism and hospitality sectors, focusing on the
importance of innovation, sustainable practices, and international cooperation. These factors play
a crucial role in driving the growth of the industry and enhancing visitor experiences. Additionally,
solutions to address the challenges that hinder the growth of global tourism sector were discussed.

In this context, the speakers highlighted the UAE’s distinctive approach to investing in the tourism
and hospitality sectors, along with the development of state-of-the-art tourism infrastructure. They
emphasized that this approach serves as a unique model for attracting international tourism
investments. This approach focuses on investments in sectors and activities that foster growth and
prosperity in tourism industry, particularly in the current stage where collaborative efforts and
creating joint action plans are essential to ensure sustainable tourism growth.