Page 72 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

of solutions presented to partners and clients of both parties. The prospect of
this bilateral cooperation includes co-insurance and reinsurance solutions for
projects, investment agreements, equity insurance, loans, shareholders’ and
non-shareholders’ assurances and various other forms of investment.

H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, reiterated the company’s
commitment to strengthen its strategic ties, develop cooperations and exchange
experiences with key international institutions and agencies in the fields of
insurance, credit and guarantees. This comes in line with the company’s belief
in the significance of efforts in boosting the resilience and sustainability of the
national economy and consolidating the UAE’s reputation in the export,
investment and foreign trade sectors, in line with the national goals of vision
‘We the UAE 2031.’ Furthermore, H.E. Al Mazrouei emphasised that the ECI’s
partnership with MIGA signifies both parties’ common interest in fostering
bilateral cooperation to support FDIs and the expansion of insurance and
reinsurance activities. It fosters new opportunities for investment projects and
activities and helps in the promotion of trade flows, investment and export and
re-export activities in both the regional and global markets.

H.E. Al Mazrouei said: “This collaboration agreement with MIGA marks a
significant stride in the company’s growth trajectory, providing new
opportunities for initiating joint investment projects based on the expertise and
potential of both parties. With this mutual cooperation, we aim to provide a
broader spectrum of clients with cutting-edge insurance and investment
solutions, enabling them to move ahead confidently with the development and
expansion of their projects and activities and to fortify their market position.
Furthermore, the agreement stands out considering the UAE’s strong reputation
as an ideal hub for global investment, with the country being ranked second
globally for FDI inflows in 2023.”

Hiroshi Matano, Executive Vice President of MIGA, stated: “The agreement with
ECI showcases our commitment to expand partnerships to offer a wide range of
services to attract foreign direct investment in emerging markets and
developing countries. We hope to co-create innovative financial solutions to
address private sector needs in our member countries.”

The UAE has a unique presence in the global investment landscape, with a total
of the UAE’s investments aboard being estimated at USD 2.5 trillion as of early
2024 and the country’s FDI balance at the end of 2023 rising to nearly USD 225
billion, a 15.8 per cent increase over 2022. The company insured AED 14 billion
worth of trade and non-oil investments in total in 2023, covering 3.1 per cent of
the nation’s non-oil exports.

https://mid-east.info/on-the-sidelines-of-the-berne-union-annual-general-meeting-eci-and-miga-
sign-agreement-to-boost-cooperation-in-fdi-activities/