Page 29 - MOE ENGLISH PR REPORT - OCTOBER 2024

Press Release

The two parties engaged in a discussion to enhance cooperation in tourism sector in the next stage,
given the tourism opportunities present in both countries and the growing number of flights
between them. Currently, there are more than 42 weekly flights connecting the two destinations,
operated by the UAE’s national carriers and Singapore Airlines.

Strengthening cooperation in circular economy

The UAE side held a meeting with H.E. Grace Fu, Minister of Sustainability and Environment and
Minister-in-Charge of Trade Relations in Singapore, to explore avenues for strengthening
collaboration between the two nations in the domains of circular economy, food security, modern
agriculture, and sustainable manufacturing. The UAE side highlighted the objectives of the UAE
Circular Economy Policy 2031 and its key role in advancing sustainability in the country by the
next decade.
Furthermore, the two sides discussed global best practices in entrepreneurship. They also explored
strategies to strengthen collaborative efforts in supporting small and medium-sized enterprises
(SMEs) in both markets to provide these businesses with the necessary enablers that enhance their
growth prospects, secure funding, and ability to effectively compete in different economic
activities. This initiative is not limited to the UAE and Singaporean markets but also aims to
facilitate expansion into international markets.
During another meeting with Rola Abu Menneh, the CEO for UAE, Middle East and Pakistan at
Standard Chartered, and Patrick Lee, the CEO for Singapore and ASEAN at Standard Chartered,
H.E. Bin Touq and H.E. Al Mazrouei discussed current global economic trends and their impact
on the UAE markets. Discussions also included the vital role that the bank plays in offering a wide
range of financing solutions and financial services that support sustainable economic development
goals.

The UAE side also met with senior officials from Royal Real Estate Holdings, and RB Capital, a
Singapore-based real estate development and investment firm, namely Raj Kumar and Kishin RK.
The discussions focused on the company’s plans for expansion in the UAE market, leveraging the
growth potential and enablers offered by the UAE to global investors and entrepreneurs.

UAE’s entrepreneurial landscape highlighted

A roundtable discussion was held with the participation of H.E. Al Mazrouei, Simon Webster,
CEO of Vistra, and 15 representatives of Singapore's entrepreneurship ecosystem, including
venture capital funds, investors, and SMEs. The session shed the spotlight on the attractiveness of
the UAE’s entrepreneurial landscape for investment funds, entrepreneurs, and startups.
Additionally, it underlined the financing opportunities provided by the country's incubators and
accelerators, as well as the flexible and competitive legislations governing the UAE’s business
environment.

Visit to Lee Kuan Yew School of Public Policy at the National University of Singapore