Page 79 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

10/31/24, 11:49 AM ECI and MIGA sign agreement to boost cooperation in FDI activities - Middle East News 247
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.

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