(MENAFN- Emirates News Agency (WAM)) ABU DHABI, 8th May 2023 (WAM) -- Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has welcomed the global investment community to the 12th Annual Investment Meeting (AIM Global 2023) at the Abu Dhabi National exhibition Centre in the UAE capital. Held under the patronage of His Highness sheikh Khaled bin Mohamed bin Zayed Al Nahyan, crown prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, AIM Global 2023 seeks to build consensus among a broad group of international investors, policy makers and business leaders on creating long-term, sustainable, and inclusive economic growth through investment opportunities.
During his opening remarks to launch this year's AIM, Al Zeyoudi emphasised the essential role that smart, targeted investment plays in nurturing industries of the future and delivering solutions to global challenges – from supply chain resilience to energy transition. He highlighted the UAE's business-friendly policies, strategic location, and world-class infrastructure, which are all helping to attract investment into critical sectors and solidifying the UAE's global ranking as one of the largest recipients of FDI in the MENA region.
“In the UAE, we are welcoming new ideas, new processes and new capabilities to create clusters of excellence capable of solving some of the world's most pressing issues today,” said Al Zeyoudi in his address.“We are the number-one ranked nation in the Arab World, and 19th globally, in the UN's“World Investment Report 2022”, which demonstrates our status as a leading global hub for investment. In 2021, we attracted US$20.7 billion-worth of FDI, up 4 percent from 2020.
“As a nation, we continue to push forward and seek new pathways and partnerships to ensure investment is targeted towards sustainable, socially responsible projects. This year's AIM conference highlights the need for this new approach, a 'paradigm shift' that focuses on promoting equitable, long-term growth and delivers prosperity and wellbeing for all. As we move forward, we must work together to ensure investment is not just a tool for turning profit, but for making a positive impact on our economies, communities, and the environment.”
Al Zeyoudi underscored this message during a series of bilateral meetings with senior government officials from around the world. His discussion with Their Excellencies Maksim Reshetnikov, Minister of Economic Development of the Russian Federation, and Rustam Minnikhanov, Head of the Tatarstan Republic, for example, focused on promoting new investment opportunities and building on the current US$10 billion worth of non-oil bilateral trade between the UAE and Russia in 2022.
Additionally, Al Zeyoudi spoke with His Excellency Vahan Kerobyan, Minister of Economy for Armenia, a country with which the UAE has seen its non-oil foreign trade increase seven-fold since 2021, amounting to more than US$1.5 billion in 2022. The two ministers explored furthering trade and investment exchange in sectors such as gold and diamonds, telephones, computers and cars. Al Zeyoudi also met His Excellency Bernardo Ivo Cruz, Secretary of State for Trade and Foreign Investment, Portugal, and His Excellency Luis Castiglioni, Minister of Industry and Commerce, Paraguay.
Strengthening bilateral ties with strategic allies around the world forms a cornerstone to the UAE's economic partnerships agenda, which is designed to accelerate trade and investment in high-growth sectors. On the first day of AIM, Al Zeyoudi launched a special event to celebrate the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement, during which he heralded the impact of the deal. In the 11 months since its implementation, the CEPA has resulted in bilateral trade of US$45.5 billion, a 6.9 percent growth on the same period 12 months earlier.
AIM Global 2023 will run until May 10, 2023, at the Abu Dhabi National Exhibition Centre. Under the theme“The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity”, the event comprises an exhibition, investment roundtables, investment destinations presentations, investment awards, start-up awards, and investors hub and G2G, G2B and B2B meetings.