UAE set to attract more investments in region, says Dr Nagel

The Abrahamic Business Circle provides a platform for entrepreneurs and investors.



by

Sandhya D'Mello

Published: Sun 10 Apr 2022, 2:42 AM

Last updated: Sun 10 Apr 2022, 2:45 AM

The UAE’s image as global hub will further strengthen as it is poised to see new dialogues which will attract more investments and opportunities in the region in 2022, said Dr Raphael Nagel, chairman, The Abrahamic Business Circle, on the sidelines of the recently concluded seminar  ‘Let Money Talk’ investment summit.

Dr Nagel, a popular business facilitator, heads The Abrahamic Business Circle (The Circle), which is an exclusive Private Members Network organisation focused on promoting global economic diplomacy through investments. One of The Circle’s initiatives for its exclusive members whose businesses are located in the UAE and Israel is to augment the multilateral economic partnerships between countries by providing a platform for entrepreneurs and investors to integrate into creating business collaboration.

The Circle provides a platform for entrepreneurs and investors, an economic hub for industries including startups, technologies, fundraising, and investments which underpin cooperation not only between the UAE-Israel but also on a global scale.

“Since the formation of The Abrahamic Business Circle, regional trends have reached a broader aspect. The Circle has grown into a global network of high-profile individuals and companies. We are expecting to see global transactions to provide entrepreneurial opportunities, which will promote

economic diplomacy,” said Dr Nagel. “This year 2022’s initiative, The Circle will bring high-profile individuals and investors to Bogotá, Colombia under the high patronage of the President of the Republic of Colombia, Iván Duque Márquez.  In the later part of the year, the investor’s roundtable will be held at Zurich, Switzerland.”

Recently a high-level UAE delegation travelled to Israel to conclude talks on the Comprehensive Economic Partnership Agreement (CEPA) and, following the final round of negotiations, the agreed text is now being finalised ahead of an expected formal signing between the nations’ respective leaders in the coming weeks. The deal is expected to boost trade and increase investment, boost tourism, accelerate digital advances and promote collaboration in priority sectors such as energy, education, healthcare, food security, entrepreneurship, cybersecurity and advanced technology. The UAE-Israel CEPA will substantially reduce or remove tariffs on a wide range of goods, enhance market access for services, promote investment flows, create jobs, promote new skills, enhance climate action and deepen cooperation on strategic projects. It will also create mechanisms for SME expansion.

The relations between the UAE and Israel have witnessed significant development since the signing of the Abraham Accords in September 2020. As per the latest figures, the trade between the two countries grew to $700 million within one year of signing the accord.

Dr Nagel informed that The Abrahamic Business Circle’s event witnessed global members from 39 different countries who are reputed private investors, entrepreneurs, UHNWI, royal families, corporates and diplomats.

“Many deals were initiated and deal flow was achieved with a turnover in value of several hundreds of million dollars.  Abraham Gomez co-founder of the Wild and West, presented Metaverse to investors and got an interest from an established UAE company that invests $100 million in Metaverse companies around the world,” added Dr Nagel.

Abraham Gomez, co-founder, Wild and West, said: “Dubai has evolved as a test-bed for innovation and we are quite excited to make our stamp in this region. We’re a premier web3 fund and service company that invests and helps the most promising crypto and NFT projects grow. Wild and West sits at the crossroads between Web2 and the burgeoning Web3 universe. While our profitability and impact began through targeted investments in social media and technologies during the Web2 era, we are now fundamentally shifting our focus to ideas and organizations that are establishing a presence in Web3 with at least some charitable and/or philanthropic component.”

Dr Nagel, who is also the general manager of Dubai-based Tactical Management, an independent cross-border M&A, strategic and sustainability advisory firm, announced the signing of the joint-venture agreement with Delta Increase EEIG, a sustainability advisory firm that provides consultancy services and policy advice to improve corporations and government entities performance on waste management, circular economy, multilateral cooperation, and energy transition.

Delta Increase is a group of companies with 60 professionals in nine countries around the world.  The joint venture will consult several governments in the Middle East, Africa, and Latin America to face the new challenges for a sustainable future that provides for the population’s total economic and environmentally friendly programmes.

Ali Shabdar, Regional Director-MEA, Zoho Corporation, said: “We were delighted to have contributed to the recent investment summit by the ABC which connects regional dignitaries, thought leaders, and some of the brightest and most innovative companies and individuals to exchange ideas while focusing on creating tangible business value in the region. With a focus on the most important areas of mutual development, such as foreign direct investment, cyber security, AI, agricultural technology, proptech, and digital transformation, the investment summit connected some of the top minds and industry leaders to build long-lasting opportunities.”

Similarly, The CEO and Founder of Scientel Information Technology Norman Kutemperor, an expert in big data technologies were able to find several investors and corporations for his new and outstanding mega big data project.

Kutemperor said: “The Abrahamic Business Circle is truly a Mega-magnet that attracts magnets from around the world to share these insightful thoughts that our modern tech society needs to address. I feel The Circle’s performance is at Mach speeds in what they have achieved in relatively short periods of time. Top CEOs, dignitaries, and UHNWIs as well as investors and entrepreneurs exchange their thoughts and ideas resulting in economic advancements for a better world.” — sandhya@khaleejtimes.com


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