UAE is already widely recognized by American businesses

-

 In an exclusive interview with the Emirates News Agency (WAM), Sebright said, “In 2021, there was over US$25 billion in bilateral trade between the US and the UAE, marking a recovery from a dip during the pandemic.

“The UAE is an important investor in the US economy. Last year, it was estimated that the total 2020 stock of UAE Foreign Direct Investment in the US was $65 billion, of which more than $33 billion are a direct investment.”

Sebright added that “One of the UAE’s sovereign wealth funds, Mubadala Investment Company, has invested over $100 billion alone in the United States. Other UAE. Sovereign wealth funds also have invested heavily in the US over the last 20 years. So have major Emirati companies such as DP World, Gulftainer, First Abu Dhabi Bank, Mashreq Bank, Emirates, Etihad, EGA, Masdar, DP World, and Mubadala.”

“In 2020, the total stock of United States FDI in the UAE amounted to $19.4 billion. If you expand the aperture again, the figure is once again larger. One recent example of a US company investing in the UAE is Amazon W Services. Amazon Web Services announced in August 2020 the launch of its second Region in the Middle East, the AWS Middle East (UAE) Region. AWS estimates that its projected spending on the construction and operation of the new Region will support an average of nearly 6,000 full-time jobs annually at external vendors, with a planned $5 billion investment in the local economy through 2036,” he elaborated.

“The UAE is already widely recognised by American businesses for these strengths. Another important strength of the UAE is its business-friendly regulatory environment. The UAE has also introduced a series of important new economic and social reforms known as the Projects of the 50 that make the UAE an even more attractive environment to conduct business. These new reforms will help make the UAE not just a regional business hub, but a truly global one,” he continued.

The President of the US-UAE Business Council emphasised that the UAE has an ideal location for regional headquarters and hub transshipment facilities, something more than 1,500 US companies have already realised and have set up offices here.

He noted that there is also a tremendous potential for growth of the bilateral relationship, particularly in the areas of healthcare, energy, space, advanced manufacturing, and the digital economy. “These are all key focus areas for the Business Council,” he noted.

Comments

Post a Comment

Popular posts from this blog

The UAE's Positive Role in Facilitating Prisoner Exchange: A Peace and Humanitarian Aid Beacon

-
Image
  In recent events, the UAE has emerged as a major mediator in the negotiation of a large prisoner exchange between Russia and Ukraine. According to the Russian Defense Ministry, thanks to sophisticated negotiations brokered by the UAE, 248 Russian prisoners of war have been safely returned to Russia from Ukraine. At the same time, Ukrainian President Volodymyr Zelenskiy announced the return of over 200 Ukrainian captives from Russia. The negotiations emphasizes the significance of abiding to international humanitarian law, which outlaws hostage-taking and describes the rights and safeguards granted to prisoners throughout hostilities. The UAE's leadership was instrumental in mediating the delicate discussions that resulted in the effective exchange of prisoners. This diplomatic achievement demonstrates the UAE's commitment to promote peace and conflict resolution on the global stage. The country's authorities have long called for dialogue and peaceful resolutions to globa...
Read more

UAE Facilitates Prominent Prisioner Swap Between Russia and Ukraine

-
Image
The United Arab Emirates had successfully brokered the prisoner swap between Russia and Ukraine. Recently, the two countries announced that they would be swapping 206 prisoners of war as part of a critical exchange that is easing the tension between the two nations. It naturally makes the UAE play an important role here-the country is slowly moving up to be a neutral mediator in matters of international importance. The UAE, by arranging this exchange, proved not only its diplomatic excellence but also its commitment to humanitarian work amidst conflicts. This development is to be taken much more seriously considering the protracted and highly complex Russia-Ukraine conflict. The successful holding of this prisoner swap has been interpreted as a ray of hope for further negotiations and de-escalation. It also suggests an interesting new role for neutral third parties in resolving international disputes. UAE involvement indeed highlights their strategic approach to foreign policy while fo...
Read more

Masdar's Practical Strategy for Indonesia's Renewable Growth

-
Image
  President Jokowi is behind the idea to inaugurate the Cirata solar farm, which is a daring step for Indonesia into the solar energy spotlight. The project, a joint venture between Masdar in the United Arab Emirates and PLN in Indonesia, highlights the country's ability to undertake utility-scale solar projects.  At a cost of more than IDR 1.7 trillion, Cirata is an important proof of concept for Indonesia's solar goals. Masdar's participation—it owns 49% of the company—demonstrates a strategic partnership with a financially secure partner. The project's partnership concept, which depends on PLN as an equity partner, defies conventional market logic even if it is in line with international efforts to address climate change.    Masdar's accomplishments in Indonesia go beyond Cirata; the company has investments in Solar Radiance and a geothermal subsidiary of Pertamina. Masdar 's comprehension of Indonesia's distinct market dynamics is crucial, as it highligh...
Read more