Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE invites Romanians to invest in key sectors  Join our daily free Newsletter

MENAFN - Khaleej Times - 10/06/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) Deal signed to establish a framework for mutual assistance

sultan bin saeed al mansouri exchanging documents after signing the agreement. — supplied photo

minister of economy sultan bin saeed al mansouri said the uae companies have registered exceptionally successful performance in drawing international investments and proven their global competitiveness.

“our home grown entities have earned reputation through decades of hard work and excellence. today organisations from the uae are welcomed and sought after worldwide” al mansouri said after a high-level meeting with romanian officials led by prime minister victor ponta in bucharest.

the exchange was held on the side lines of the joint economic committee meeting held in the romanian capital. the uae delegation included high level officials and members of the country’s business community.

“the uae is proud of the developmental role that our companies are playing in different countries around the world. the operations of the uae’s companies abroad are marked by a high degree of corporate social responsibility. the enterprises are seen as real partners in developmental efforts and not just as profit seekers” al mansouri said.

the minister offered detailed insights into the investment landscape of the uae. he highlighted the facilities offered to investors the legislative framework and the ultra-modern infrastructure and logistical capabilities that position the country as a preferred international business hub. he also highlighted the availability of free zones mega ports and airports and the development of infrastructurally-enabled industrial cities that support the significant investment opportunities in the uae.

during the meeting the two sides emphasised the importance of laying out a clear framework for future cooperation. the proposed framework will identify specific sectors timelines and ollow-up mechanisms to monitor development and tackle any obstacles. the delegations agreed that a joint team would be set up for the implementation of decisions made by the joint economic committee.

for his part the romanian prime minister expressed his country’s interest in developing cooperation across all sectors focusing on agriculture industry tourism and energy. romania’s state minister for energy meanwhile outlined the country’s significant economic potential in wind energy hydropower and solar power and confirmed interest in attracting investments from the uae in the renewable energy sector.

the delegates also discussed ongoing privatisation plans that are underway and called on businesses in the uae to benefit from the investment opportunities available in romania.

financial agreement

a memorandum of understanding (mou) was signed between the securities and commodities authority (sca) of the uae and the financial supervisory authority (fsa) of romania at the conclusion of the joint economic committee meeting.

the mou seeks to establish a framework for mutual assistance and facilitate the exchange of information between the two authorities. the enhanced cooperation is in turn anticipated to ensure mutual compliance with regulations in the securities and futures domain of the two countries. additionally the agreement aims to augment investor confidence and promote the integrity of the securities markets through establishing a charter for co-operation exchange of information and investigative assistance that conforms to existing laws and practices.

the pact also specifies the mutual scope of work that focuses on the prevention of illegitimate financial market activities including insider dealing market manipulation and other fraudulent practices prevalent among companies securities futures contracts options and collective investment schemes.

— business?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Mar 23 2017 - China's TBEA, Orascom win offer for Egypt power plantMENAFN
(MENAFN) China-based TBEA and the Egyptian Orascom have won the tenders for installing transformers' substations and civil works for the 650MW power plant.The Chinese firm will be awarded a deal ...

 Mar 23 2017 - Egypt, EU implement 35 projects at USD75.5mn valueMENAFN
(MENAFN) Egypt and the EU implemented almost 35 projects worth USD75.7mn for institutional twinning over the past 10 years.Additionally, the twinning project comes as part of the EU-led technical ...

 Mar 23 2017 - Saudi Binladin Group agree to USD1.1bn financing extensionMENAFN
(MENAFN) Saudi Binladin Group's creditors have confirmed to extend by two years an USD1.1bn Islamic credit facility to pay for building work at Grand Mosque in Mecca.However, one of the heavyweights ...

 Mar 23 2017 - Lebanon's industrial sector value drops by 16pctMENAFN
(MENAFN) The value of Lebanon's industrial sector declined almost 16 percent between 2011 and 2015 due to the economic slowdown.Accordingly, the value of the sector fell to USD8.8bn in 2015 after it ...

 Mar 23 2017 - Dubai's tourism sector posts 12pct increase in visitor numbersMENAFN
(MENAFN) Dubai's tourism sector recorded a 12 increase in visitor numbers over the first two months of this year, with more than 3mn people visiting the country.Among the cited period of the year, ...

 Mar 23 2017 - Qatar-Mannai confirms 40pct dividendMENAFN
(MENAFN) The general assembly meeting of Maanai Corporation has confirmed the board of directors' recommendation to distribute a cash dividend of 40 percent.Accordingly, over the last 10 years the ...

 Mar 23 2017 - Huawei Egypt to enhance regional market investmentsMENAFN
(MENAFN) Huawei Egypt for Telecoms and Info Tech will increase its investments in the Egyptian market, according to its plan proclaimed by the CEO of Huawei Egypt.Accordingly, the country welcomes ...

 Mar 23 2017 - China-led AIIB approves 13 new membersAsia Times
(MENAFN - Asia Times) The China-backed Asian Infrastructure Investment Bank (AIIB) said on Thursday it has approved 13 new applicants to join the bank, including Canada, a major ally of the United ...

 Mar 22 2017 - UAE- National Commission on International Humanitarian Law highlights its role, support of Minister of Foreign Affairs, International Co-operationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 22nd March, 2017 (WAM) -- Abdul Rahim Yousuf Al Awadhi, Assistant Foreign Minister for Legal Affairs, and Head of UAE National Commission on ...

 Mar 22 2017 - Dubai Silicon Oasis opens electric vehicle charging stations for free public useEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 22nd March, 2017 (WAM) -- Dubai Silicon Oasis Authority, DSOA, the regulatory body for Dubai Silicon Oasis, DSO, the integrated free zone technology ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help