The Abu Dhabi-Ireland Economic Forum 2014 kicked off at the Irish capital Dublin yesterday with the participation of a huge economic delegation from the Emirate of Abu Dhabi chaired by His Excellency Khalfan Saeed Al Kaabi, 1st Deputy Chairman of the Abu Dhabi Chamber of Commerce and Industry.The Emirati delegation consisted of representatives from over 40 Emirati companies operating in the private sector.
His Excellency Al Kaabi said in the opening speech of the forum that the visit of the Emirati businessmen delegation which comes under the umbrella of the Abu Dhabi Chamber is an answer to the invitation extended by the Irish Prime Minister to the Board Members of the Chamer during his visit to the UAE Capital last January.
“According to the invitation, we, at the Abu Dhabi Chamber, formed a large economic delegation which consists of different private companies that operate in different investment sectors to participate and take a closer look at the available investment opportunities in Ireland in addition to meeting with the representatives of the private sector in Ireland and showcase the different available investment opportunities in Abu Dhabi.”
Al Kaabi added: “I am very pleased to meet a number of Irish private companies which are aware of cooperating with their counterparts in Abu Dhabi in order to enhance economic cooperation and working towards the best interest of both sides on the economic level as well as holding a number of meetings which could end up in strategic partnerships and fruitful cooperation.”
Al Kaabi invited private companies in Ireland to visit Abu Dhabi and take a closer look at the economic development on all levels, especially in the stock markets, property development and construction thanks to launching a number of infrastructure and residential projects. He noted that the tourism sector is one of the promising economic sector considering the constant growth rates in the number of visitors and tourists which reached to 3.1 million visitors in 2013.
The 1st Deputy Chairman pointed out that such a meeting would contribute to the economic cooperation relations between Abu Dhabi and Ireland through exchanging trade delegations, participating in different economic activities and establishing joint investment projects.
He expressed the readiness of the Chamber in providing all sorts of support for the Irish private companies which are looking for investment opportunities in the Emirate of Abu Dhabi and investment and trade partners in the emirate.
Al Kaabi noted that the economy of the emirate achieved important accomplishments that the GDP of Abu Dhabi doubled five times over the past 12 years which reflects the economic, construction and development growth of the emirate under its wise leadership.
He asserted that such accomplishments go in line with the launch of “Abu Dhabi Economic Vision 2030” which also included plans and policies developed specifically to cope with the divers economic activities of the emirate and to found a proper investment climate for development through empowering the partnership between the private and public sectors.
“In order to materialize the Abu Dhabi Economic Vision, Abu Dhabi is focusing today on developing some sectors which would help in diversifying its economy and lessening its dependence on oil,” Al Kaabi said, pointing to the sectors which the government of Abu Dhabi is focusing on to push the wheel of its economy forward and diversify its economy and they include defense, aviation, petrochemicals, medical equipment, biotechnology, tourism, healthcare, education, transportation, financial services and telecommunications.
He pointed out that as a result to the economic efforts of the Emirate of Abu Dhabi in different sectors, the number of registered investment companies in the emirate reached 95,000 ones in 2012 from which 10.4% are new businesses compared to 86,000 companies registered in 2011 and that such companies benefit from the different features offered by Abu Dhabi.
For his part, Richard Bruton, Irish Minister for Jobs, Enterprise and Innovation, welcomed the economic delegation of the Abu Dhabi Chamber which is participating in the Abu Dhabi-Ireland Economic Forum 2014 in Dublin, pointing out that the meeting derives its importance from the exchanged visits of businessmen from both sides. “I am confident that the meeting will end up with positive outcomes that reflect on the economy of both sides,” he said.
During the forum, Mr. Brutom delivered a presentation on the economy of Ireland and the sectors which his country excelled in as well as the investment climate and opportunities and the incentives offered for foreign companies desirous to invest in Ireland.
Bruton noted that the Irish economy witnessed rapid growth that exceeded all prediction, especially that Ireland was among the most impacted countries by the global economic crises. He emphasized that his country is currently witnessing an economic development movement.
He remarked that Ireland opens its doors for Emirati companies to invest in different sectors and fields, especially that the past period witnessed positive growth rates in the different economic sectors. “Therefore, businessmen and investors from Abu Dhabi can benefit from the facilities offered by Ireland and from the economic features which are not available in other countries.” He said.
During the Abu Dhabi-Ireland Economic Forum 2014 a number of workshops and sessions where held with the participation of an elite of Irish companies and delivered a thorough explanation on the importance of investment in a number of sectors including the financial and banking sectors, tourism, medical services and others.
On the sideline of the forum, the Emirati delegation visited a number of economic facilities in Ireland and witnessed their experiments and activities. Meetings between businessmen from both sides were organized as well.
Representatives of the Irish private sector expressed their welcome to the Chamber’s delegation and considered the forum as an opportunity to meet their counterparts in Abu Dhabi and discuss joint economic cooperation and the means of communication, especially with the presence of many joint investment fields that can be worked out.
They said that the Abu Dhabi Chamber offered them the opportunity to examine the available investment opportunities in Abu Dhabi, noting that Abu Dhabi represents an economic and investment destination for their investments.
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