The Ministry of Foreign Affairs and International Cooperation (MoFAIC) and the Abu Dhabi Investment Office (ADIO) have signed a Memorandum of Understanding (MoU) to promote cooperation in attracting foreign investments and capacity building.
Both entities agreed to strengthen the UAE’s profile as an ideal destination for trade and investment, principally by enhancing the efforts of UAE missions abroad to promote and facilitate investment opportunities within the UAE.
The MoU sets out a framework for MoFAIC to facilitate trade and investment meetings through its diplomatic missions abroad, engage in information exchange, and develop the capabilities of the diplomatic corps in the field of investment and trade promotion.
ADIO also pledged to engage in a series of workshops dedicated to Emirati diplomats, with cooperation from UAE stakeholders and entities, to provide an overview of Abu Dhabi’s investment environment and priority industry sectors.
His Excellency Dr. Abdulnasser Alshaali, UAE Ambassador to the Republic of India, said: “This MoU comes at a crucial time, bringing together MoFAIC and leading investment promotion entities within the UAE to support the UAE’s economic diplomacy objectives. This MoU will enable Emirati diplomats to draw upon the networks and experiences of ADIO to strengthen their trade and investment promotion skillsets, as well as increase their knowledge of the UAE’s business environment. I strongly believe that this MoU will deepen the strategic partnership with ADIO and MoFAIC, ultimately enhancing the capabilities of UAE missions abroad.”
Eng. Abdulla Al Shamsi, Acting Director General of ADIO, welcomed the initiative and said: “ADIO is excited to build on our partnership with MoFAIC by working together to further strengthen Abu Dhabi’s position as a top business destination for companies from around the world. ADIO and MoFAIC are similarly aligned in our mission to introduce global companies to the advantages of doing business in the UAE, and this agreement will complement our collective efforts to support investors.”
The successful signing of the MoU comes as MoFAIC grows its “Invest Emirates” website into a focal point connecting emirate-level IPAs, chambers of commerce, UAE missions abroad, and foreign investors with the aim of attracting additional investment into the UAE’s strategic and growing economic sectors.
Source: Ministry of Foreign Affairs & International Cooperation