Page 193 - MOE ENGLISH PR REPORT - JUNE 2024

7/1/24, 3:47 PM UAE participates in SelectUSA Investment Summit

The Summit's workshops and seminars also enabled the delegation to learn about the

various investment opportunities across the USA, enabling them to identify potential
areas for collaboration and the means to access them.

Addressing attendees from the US business community at a session organized by

the UAE-US Business Council, Al Zeyoudi said: "The United States of America
remains one of our most trusted international allies and a vital trade and investment

partner. Our relationship is not only strong and enduring, it continues to find

productive new horizons, from collaboration in renewable energy to agri-tech and

advanced technology. Our visit to the States this week is a reflection of our
commitment to finding new avenues of cooperation and to building partnerships at the

public- and private-sector levels that further our economic diversification ambitions.

SelectUSA is not only the ideal platform to discover the opportunities in the US market
but to also to showcase the dynamism of the UAE's ecosystem, which is already home

to more than 1,500 US companies."

The UAE is the largest Arab investor in the USA with assets of more than US$38.1

billion, accounting for over 50 per cent of Arab investment into the country as of
2022. UAE investments in the US over the last five years have grown by US$12 billion

across a variety of sectors with a focus on transportation, business services and ICT.

Majority UAE-owned firms employ over 24,300 US workers and help to
increase US exports, contributing US$1.4 billion to the value of US goods exported in

2021.

The UAE delegation included more than 65 participants, most notably Mohammed

Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment, Juma

Mohammed Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign

Trade Affairs, and Saud H. Al Nowais, UAE Commercial Attache (Counselor) for

the UAE Embassy, in addition to senior executives from government and private

sector companies such as the Abu Dhabi Investment Office, Sharjah Research,
Technology and Innovation Park, Emirates Nuclear Energy Corporation, Mubadala,

EDGE Group, Ras Al Khaimah Economic Zone (RAKEZ), LuLu Group International,

and Emirates Aluminum. (ANI/WAM)

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