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TOKYO, (UrduPoint / Pakistan Point News / WAM – 15th March, 2023) The United Arab Emirates and Japan yesterday reviewed the prospects for enhancing economic, trade and investment cooperation, and exploring new economic opportunities of common interest.
This came at the Abu Dhabi Business Forum, organized by the Abu Dhabi Department of Economic Development after the 9th session of the Abu Dhabi-Japan Business Council concluded yesterday in the presence of the top executives of the UAE and Japanese public and private. • sectors.
Addressing the meeting, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Economic Development Department, said that Abu Dhabi is determined to support new businesses and entrepreneurs, and increase them with the aim of increasing the percentage of non-oil GDP.
He encouraged Japanese companies to use the myriad of opportunities available in Abu Dhabi and benefit from the UAE’s position as a gateway to the Middle East, Africa and South Asia.
“Japan, being one of Abu Dhabi’s leading trade and investment partners, gives us a lot to talk about, as the prospects for continued growth, development and progression are endless and exciting! Our nations continue to focus on identifying and creating new. bridges together / across various verticals, to achieve common interests, and the progression and well-being of our people side by side,” he added.
As a catalyst for the growth of the Abu Dhabi economy, he continued, “The Abu Dhabi Economic Development Department works closely with a few other prominent entities / that make up the Abu Dhabi ecosystem. The capital of the United Arab Emirates and its associated regions have been focus on facilitating, encouraging and providing smart support/ and funding to strategic businesses, and giving operational support to start-ups and entrepreneurs, and scaling them up with the aim of increasing the percentage of non-oil GDP.”
The Abu Dhabi Investment Office (ADIO) has been using the Innovation Programme, providing incentives and helping companies relocate here with ease, Al Zaabi added.
“Although the Industrial Development Bureau in the DED, which is the regulator and facilitator of the industrial sector, works closely with manufacturers helping them to further develop and boost their production levels, it provides a set of incentive programs and initiatives financial and non-financial.”
“Of the total number of companies in Japan, 90% are small and medium-sized enterprises, which are very active and are always trying to expand their geographical footprints. I tell these innovative companies to consider Abu Dhabi as your gateway to the Middle East!” he pointed out.
The Abu Dhabi Investment Office (ADIO) has been using the Innovation Programme, providing incentives and helping companies relocate here with ease, Al Zaabi added.
“While the Industrial Development Bureau (IDB) in the DED, which is the regulator and facilitator of the industrial sector, works closely with manufacturers helping them to further develop and boost their production levels, it provides a set of programs and financial and non-financial incentive initiatives. . .
“Furthermore, and through the essential economic pillar that is the Abu Dhabi Industrial Strategy and its range of incentive programs and support initiatives, we are pushing for the adoption of Industry 4.0 programs and advanced technologies, driving innovation, growth and competitiveness, and reducing waste. and emissions across the manufacturing sector,” he noted.
“For established and successful companies seeking new or dual listings on the Abu Dhabi Securities Exchange, the Abu Dhabi IPO Fund, an AED5 billion fund, empowers companies to become IPO ready, as they seek to grow and scale operations in Abu Dhabi. ..”
Al Zaabi emphasized the opportunities available to all businesses in the UAE capital, especially those in which Abu Dhabi has a competitive advantage and can help drive innovation for global impact. These include:
– International Trade.
– Capital intensive industries/such as pharmaceuticals and life sciences.
– Technology.
– Logistics and industry.
– Tourism.
-AgriTech.
– Health services and Biopharmacy.
-Finance, Investments and Asset Management.
ADDED is fostering an open Advanced Trade and Logistics Platform that will support a new era of trading by digitally facilitating the following:
– Sea, land, air, industrial and free trade zones to enable transparency, / predictability, and efficiency.
– Now, on the social side of our overall economic model, our sub-entity ‘Abu Dhabi Residents Office’ was created to recognize the significant contribution of the expatriate community to the emirate’s economy/ and to harness, protect and grow these. talents live there.”
He added that the ADDED is proud of the way “we have succeeded in opening the markets to investors and traders, facilitating the “ease of doing business doctrine”. In this way we help harness talent, and develop specialized products and services. , by allow for seamless cross-border network outreach, and operate with minimal disruption to business agendas and investors’ bottom lines.
“We will ensure the free and open economy, business and trade model, reinforcing the confidence in our economy and its unique characteristics.”
For his part, Nobuyori Kodaira, President, Japan Cooperation Center for the Middle East, said that the meeting comes at a time when Japan and the UAE are starting a new half century of economic cooperation in various fields, especially in terms of climate change .cooperation.
He added that energy transfer and economic diversification present new opportunities for greater cooperation between the two sides.
UAE Ambassador to Japan Shehab Ahmed Al Fahim, and Abdullah Al Mazrouei, Chairman of the Abu Dhabi Chamber of Commerce and Industry, along with top executives from both sides also attended the Abu Dhabi Business Forum.