Wednesday 29 March 2023

Japanese investment in UAE hits $3.9bn

TOKYO, Japan, March 11, 2018

Japanese investments in the UAE have touched a total of about Dh14.3 billion ($3.9 billion), said Saeed Al Mansoori, UAE Minister of Economy, noting that  there are more than 100 Japanese companies in the country.

There are also 200 Japanese agencies as well as more than 10,000 registered trademarks, he added, speaking at the recently concluded UAE-Japan Business Forum recently in Tokyo.

The event, which was held to discuss the further strengthening of bilateral relations between the two countries, was attended by senior ranking UAE and Japanese officials.

Al Mansoori commended the continuous development and growth of economic relations between the UAE and Japan. He pointed out that the volume of non-oil trade exchange between the two countries touched approximately Dh53.5 billion ($14.6 billion) and that Japan’s investments contributed to the development of the UAE, particularly in sectors such as advanced technologies, renewable energy, transportation, aviation and health care.
Al Mansoori stressed on the potential for partnership consolidation between the two countries across many sectors of common interest, like innovation, SMEs, advanced industries, energy, entrepreneurship and women empowerment. He pointed out that dialogue and joint initiatives like the forum, were aimed at guaranteeing the ease of flow of mutual investments, which could help open up global markets and the entire MENA region to investments and products from both countries.
Kosaburo Nishime, Japanese State Minister of Economy, Trade and Industry, expressed Japan’s upbeat attitude about the strengthening of bilateral ties between the two countries. He stated that Japan looks to the UAE as a strategic partner and added that the two countries should look towards diversifying areas of partnership. He said that Japan is keen to support the strengths of the UAE economy, particularly through innovation and knowledge economy initiatives and the promotion of the SME sector.
Hiroyuki Ishige explained that the forum represents a vital tool for consolidating the partnership between the two countries. He also talked about the growth and development of the Japanese economy.
Khaled Omran Al Ameri, UAE Ambassador to Japan, said that the conference aims at reinforcing the partnership and economic relations between the UAE and Japan. He noted the two countries’ desire to take a leap forward together, in light of the growing capabilities of the UAE and the success of its development strategies. He also praised the convergence of the vision and development policies of the two countries.
Three MoUs were signed at the conference between JETRO and the Abu Dhabi Investment Office in Abu Dhabi, RAK Department of Economy and Fujairah Department of Economy all aimed at promoting investments and supporting SMEs, mutual expertise and information exchange. – TradeArabia News Service

Tags: UAE | meeting |

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