UAE explores opportunities at US investment summit

A UAE delegation of government officials, business leaders and investors, led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has headed to the US on a mission to boost trade and promote foreign direct investment.

At the SelectUSA Investment Summit, held in Maryland, the delegation engaged with corporate leaders, industry experts, and exhibitors to identify strategic investment opportunities in the US and explore avenues for establishing businesses in the country.

Dr Thani Al Zeyoudi also used the occasion to hold meetings with US Commerce Secretary Gina Raimondo and Assistant Secretary of Commerce Arun Venkatarman, during which he discussed ways to further develop trade and investment ties, and accelerate cooperation in priority sectors such as clean energy initiatives, food and water security, and advanced technology.

Al Zeyoudi said the UAE delegation’s participation in SelectUSA is a reflection of the importance of the US relationship and the opportunities it offers UAE businesses and investors.

"To achieve our economic ambitions, we must expand ties with key allies around the world, including the US, our fourth-largest trading partner with non-oil trade worth $30 billion in 2022. Collaboration with US companies in Web3, renewable energy, agri-tech, space sciences and quantum computing can reap significant rewards.

"UAE FDI into the United States totalled $33.1 billion at the end of 2022, representing 43 per cent of the inward investment from the Middle East. The other way, the UAE is the US’ largest trading partner in the Middle East. Events such as SelectUSA provide the ideal platforms to increase this further and develop more mutually beneficial opportunities for our private sector," he added.

The UAE is home to over 1,500 US firms and the UAE Ambassador to the US, Yousef Al Otaiba, said these companies and institutions have played a transformational role in the UAE’s development.

"The UAE-US business and economic relationship has generated enormous opportunities for both countries. As we continue to grow in sectors such as semi-conductors, life sciences, space, ag-tech and renewable energy, there is no better time for US companies to invest, partner and establish their headquarters in the UAE,” he said.