The UAE and Singapore are discussing opportunities to increase economic cooperation in sustainable sectors

His Excellency Abdullah bin Touq Al Marri, Minister of Economy, Chairman of Investopia, and Her Excellency Alya bint Abdullah Al Mazrouei, Minister of State for Industry, held a series of meetings with several ministers and representatives of leading companies in Singapore, by Next level, in the presence of His Excellency Jamal Al Suwadi, UAE Ambassador to the Republic of Singapore.

This came on the sidelines of the UAE delegation’s visit to Singapore, where the “Investobia Global Dialogues” event was held in Singapore, organized by “Investobia” in collaboration with Standard Chartered Bank, with com -participation of more than 100 participants including directors, businessmen, investors, entrepreneurs, economists, and representatives of companies The private sector and Emirati and Singapore family headquarters.

At these meetings, His Excellency Abdullah bin Touq Al Marri emphasized the strength of the bilateral relations between the UAE and Singapore, which are characterized by continuous development in various fields, especially economic and investment cooperation with Singapore in sectors of the new and sustainable economy as key sectors that will support the transition to the economy of the future, especially since both countries have similarities in economic strategies aimed at expansion and investment in these vital departments.

In detail, His Excellency Abdullah bin Touq and His Excellency Alia Al Mazrouei held a meeting with His Excellency Dr. Tan Si Ling, Minister of Manpower and Second Minister of Trade and Industry of the Republic of Singapore, to discuss the contribution of joint economic prospects. relations, and support channels of communication between the Emirati and Singaporean business communities, in a way that contributes to the opening of New areas of work, especially due to the presence of large and diverse economic opportunities in the markets of both countries, and the ability to provide more resources and incentives to exports and imports in both countries.

The two sides discussed a set of strategies that both countries have adopted to diversify their economies over the past decades, and in this context, His Excellency Bin Touq touched on the efforts of the state to encourage expansion in the non-oil sectors, added. The state’s gross domestic product reached 74%, which contributed to strengthening the stability of the state’s economic and financial development, and increasing its attractiveness for doing business and various economic activities.

The two sides discussed the increase of tourism cooperation in the coming period, due to the tourism potential enjoyed by both countries, and the increasing growth in the number of visits to each other, and the total number of them reached more than 42 flights per week through Emirates. and Singapore Airlines.

The UAE side held a meeting with His Excellency Grace Fu, Minister of Sustainability and Environment and Minister in Charge of Trade Relations in Singapore, to discuss ways to expand the perspective of cooperation between the two countries in the areas of circular economy, food security, modern agriculture and sustainable manufacturing, where the UAE side reviewed the goals of the “UAE Agenda for a Circular Economy 2031”.

During their meeting, both sides reviewed the main global best and latest practices in the field of entrepreneurship They also discussed ways to strengthen bilateral cooperation to support small and medium enterprises medium in the markets of both countries, and to give them the capabilities that are. increase their growth opportunities, financing methods, and the ability to compete in various economic activities, both at the level of the two Emirati and Singapore markets or expanding to foreign markets.

In addition, His Excellency Abdullah bin Touq and His Excellency Alia Al Mazrouei held another meeting, with Rula Abu Manneh, Head of Standard Chartered Bank in the UAE, Middle East and Pakistan, and Patrick Lee, Head of Singapore and ASEAN at Standard Chartered , to discuss economic trends on global growth and its impact on the UAE markets, as well as the important role that the bank plays in providing financing solutions and various financial services, which support the goals of economic development stable

The UAE side also met senior officials from Royal Property Group for real estate investment and RB Capital for real estate and hotel development and investment in Singapore, namely Rajkumar and Kishen RK, where both sides discussed expansion plans in the Emirati market and benefits. from the opportunities and possibilities that the country’s business environment offers for investors, businessmen and capital owners from around the world.

The visit of the state delegation saw a roundtable meeting attended by Her Excellency Alya Al Mazrouei, Minister of State for Enterprise, Simon Webster, CEO of Vistra, and 15 representatives from the Singapore entrepreneurship ecosystem, including funds venture capital. , investors and small and medium-sized companies, with the aim of highlighting the possibilities that the entrepreneurship environment in the UAE provides for investment funds, entrepreneurs and emerging companies, as well as the funding opportunities provided by business incubators and accelerators in the country, and the flexible and competitive legislation of the UAE business environment.

On the other hand, His Excellency Abdullah bin Touq and His Excellency Alya Al Mazrouei visited the headquarters of the Lee Kuan Yew School of Public Policy at the National University of Singapore, and received Professor Danny Kua, Dean and Lee Ka Shing in Economics at the Lee Kuan Yew School of Public Policy With the aim of considering the possibility of increasing cooperation in developing economic policies around several sectors such as the green and circular economy and sustainable growth, the programs and research that the college offers in which many critical sections have also been reviewed.

In addition, the UAE side visited the headquarters of SG Enterprise and Standard Chartered Venture to exchange experiences in the fields and activities of entrepreneurship and small and medium enterprises and to learn about the latest practices followed in this regard.