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Over 50 Italian companies plan investment in UAE

ABU DHABI - Over 50 Italian companies are interested in investing in the UAE in order to benefit from the second largest Arab economy’s attractive investment environment, says the Ministry of Economy.

The UAE’s top business executives representing public and private sectors marketed the huge investment potential to Italians, during their recent interaction, when they met on the sidelines of the high-level UAE-Italy Joint Economic Committee’s high-level meeting held in Italy.

After the sucessful meetings, the UAE’s business delegates expressed their “confidence on the beneficial impact of the visit in boosting 
bilateral trade.”

The businessmen were part of the UAE delegation that took part in the UAE-Italy Joint Economic Committee,which was hled in Verona in Italy recently. The Committee signed an agreement in the presence of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of Dubai and of the UAE.

Commenting on the outcome of the meetings, the UAE Minister of Economy Sultan bin Saeed Al Mansouri, who lauded the results, announced the formation of an integrated mechanism to follow-up the recommendations of the Committee and strengthen bilateral relations between the UAE and Italy.

Al Mansouri said the follow-up mechanism will ensure direct communication with Italian officials to assess the progress on the implementation of various initiatives identified at the Joint Committee.

He reiterated the commitment of the Ministry to involve local governments and major national companies in driving the follow-up process.

Mohammed Ahmed bin Abdul Aziz Al Shihhi, Director-General of the Ministry of Economy, said: “We remain committed to ensure the implementation of the projects agreed with the Italian side.”

Abdul Aziz Al Shamsi, UAE Ambassador to Rome, added: “Italy clearly understands the critical importance of the UAE as a trading partner, which is one of the most developed and open economies in the Middle East.”

Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry, said the results of the joint committee meetings will contribute to the promotion of trade and investment relations with the UAE, in general, and especially Dubai. He said both sides reviewed the investment opportunities in both countries and agreed to open new prospects for cooperation in several vital economic sectors, notably industry, trade and small and medium enterprises.

Jamal Al Hai, Senior Vice-President, Dubai Airports, emphasised that Italy has strong potential in tourism, and the UAE delegation came at the right time to open new prospects of cooperation in tourism and travel.

Mohammed Al Qamzi, CEO of Abu Dhabi’s ZonesCorp, said: “The visit identified attractive investment prospects in Italy and plenty of opportunities to share experiences and insights, as well as opportunities to attract large Italian companies to the UAE.”

Shukri Salem Al Mehairi, General Manager of Dubai Investments Industries, added: “Italy has undoubted strengths in the industrial sector, which is an opportunity for the UAE to improve its own industrial capacity through strategic investments 
in the sector.”

Ibrahim Al Mansoori, Executive Vice-President of the Khalifa Fund said that the Italian officials have expressed strong desire for cooperation at all levels which will enhance the Fund’s experience in the development of SMEs. 


haseeb@khaleejtimes.com