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

A UAE Commitment of 5 GW to a Sustainable Future

-
Image
  Masdar is preparing to build a 150-megawatt solar power project in Angola, with the capacity to power 90,000 homes, as part of its ambitious goal. This project, launched during the COP28 climate summit, demonstrates the UAE's commitment to global renewable energy initiatives. Angola's Ministry of Energy and Water and Masdar have entered into a concession deal to build and operate the ground-mounted solar power facility in the Quipungo region in southern Angola. While financial details are being withheld, the initiative is intended to greatly contribute to economic growth, job creation, and overall sustainable development in the region. Truly Masdar's commitment goes beyond Angola, with ambitions to build 5 gigatonnes of renewable energy projects in Angola, Uganda, and Zambia. This pan-African vision is consistent with Masdar's goal of establishing Africa as a renewable energy powerhouse.  Align with COP28 President Sultan Al Jaber said and emphasized Africa's rene
Read more

A Powerful Ally in the Fight Against Climate Change

-
Image
  This year's COP28 summit in Dubai drew several significant personalities, including India's Prime Minister Narendra Modi and Britain's Prime Minister Rishi Sunak. Their participation demonstrates a shared commitment to addressing the serious issue of climate change. Leaders from the United States and China were noticeably absent, reflecting the delicate geopolitical situation around climate negotiations.     This summit, King Charles of the United Kingdom (UK) traveled to the United Arab Emirates (UAE) to urge for increased efforts to tackle climate change at the COP28 summit. The visit emphasizes the growing significance of international cooperation in solving the critical climate challenge. King Charles, well-known for his environmental activism, delivered a landmark statement at the United Nations. Climate talks in Dubai emphasized the importance of global accountability and action.  I've seen joint efforts between the UAE and the UK, as evidenced by King Charle
Read more

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