TOKYO, 14th March, 2023 (WAM) — The United Arab Emirates and Japan yesterday reviewed the prospects of enhancing financial, commerce and funding cooperation, and explored new financial alternatives of widespread curiosity.
This got here on the Abu Dhabi Business Forum, which was organised by the Abu Dhabi Department of Economic Development following the conclusion of the ninth session of the Abu Dhabi-Japan Business Council yesterday within the presence of high executives from the UAE and Japanese private and non-private sectors.
Addressing the assembly, Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development, stated Abu Dhabi is bent on actively supporting start-ups and entrepreneurs, and scaling them up with the purpose of accelerating the share of non-oil GDP.
He urged Japanese corporations to utilise the myriad alternatives up for grabs in Abu Dhabi and profit from the UAE’s place as a gateway to the Middle East, Africa, and South Asia.
“Japan, being one of Abu Dhabi’s pre-eminent trade and investment partners, gives us a lot to talk about, as the prospects for continued mutual growth, development and progression are endless and exciting!.Our nations continue to focus on identifying and creating new bridges with one another/ across various verticals, to achieve common interests, and the progression and well-being of our people side by side,” he added.
As a catalyst of Abu Dhabi’s economic system development, he continued, “Abu Dhabi Department of Economic Development works closely with a few other prominent entities/ making up the Abu Dhabi ecosystem. The Capital city of the United Arab Emirates and its related regions have been focusing on facilitating, encouraging and providing smart assistance/ and funding to strategic businesses, and to actively support start-ups and entrepreneurs, and to scale them up with the aim of increasing the percentage of non-oil GDP.”
The Abu Dhabi Investment Office (ADIO) has been deploying the Innovation Programme, offering incentives and serving to corporations relocate right here with ease, Al Zaabi added.
“While the Industrial Development Bureau at the DED, which is the industrial sector’s regulator and facilitator, works closely with manufacturers helping them develop further and boost their production levels, it provides a set of financial and non-financial incentives programmes and initiatives.”
“Of the total number of companies in Japan, 90% are small and medium-sized enterprises, that are very active and are always seeking to expand their geographic footprints. I tell these innovative companies consider Abu Dhabi as your gateway to the Middle East!” he famous.
The Abu Dhabi Investment Office (ADIO) has been deploying the Innovation Programme, offering incentives and serving to corporations relocate right here with ease, Al Zaabi added.
“While the Industrial Development Bureau (IDB) on the DED, which is the economic sector’s regulator and facilitator, works carefully with producers serving to them develop additional and increase their manufacturing ranges, it offers a set of monetary and non-financial incentives programmes and initiatives.
“Furthermore, and through the crucial economic pillar that is the Abu Dhabi Industrial Strategy and its range of incentive programmes and support initiatives, we push for the adoption of Industry 4.0 programmes and advanced technologies, triggering innovation, growth, and competitiveness, and reducing waste and emissions across the manufacturing sector,” he famous.
“For long standing and successful companies seeking new or dual listings on the Abu Dhabi Securities Exchange, the Abu Dhabi IPO Fund, which is a AED5 billion fund, empowers companies to become IPO ready, as they seek to grow and scale operations in Abu Dhabi.”
Al Zaabi emphasised on the alternatives which can be obtainable for all companies within the UAE capital, specifically these during which Abu Dhabi has a aggressive benefit and may help drive innovation for world influence. These embrace:
-International commerce.
-Capital intensive industries, resembling prescribed drugs and life sciences.
-Technology.
-Logistics and trade.
-Tourism.
-AgriTech.
-Health companies & Biopharma.
-Finance, Investment and Asset administration.
“ADDED is cultivating an open Advanced Trade and Logistics Platform which is able to help a brand new period of commerce by digitally facilitating the next:
-Trade of sea, land, air, industrial and free zones to allow transparency, predictability, and effectivity.
-Now, on the social a part of our general financial mannequin, our sub-entity the ‘Abu Dhabi Residents Office’ was created in recognition of the numerous contribution of the expatriate resident neighborhood to the emirate’s economic system and to harness, safeguard and develop these abilities residing there.”
He added that the ADDED takes pleasure in how “we’ve managed to open the markets for investors and traders, facilitating an “ease of doing enterprise doctrine”. This manner we assist in harnessing of expertise, and the event of merchandise and specialised companies, permitting for seamless cross-border community outreach, and execution with least hindrance to investor’s enterprise agendas and backside strains.
“We will ensure the free and open economic, business and trade model, re-enforcing the confidence in our economy and its unique attributes.”
For his half, Nobuyori Kodaira, President, Japan Cooperation Centre for the Middle East, stated that the assembly comes at a time when Japan and the UAE are starting a brand new half-century of financial cooperation in numerous fields, particularly when it comes to local weather change cooperation.
He added that vitality transition and financial diversification current new probabilities for elevated cooperation between the 2 sides.
UAE Ambassador to Japan Shehab Ahmed Al Fahim, and Abdullah Al Mazrouei, Chairman of the Abu Dhabi Chamber of Commerce and Industry, together with high executives from either side additionally attended the Abu Dhabi Business Forum.