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Austria's foreign minister praises UAE's experience in attracting investments

September 13, 2021
finance & economy

ABU DHABI, 12th September, 2021 (WAM) -- Alexander Schallenberg, Minister of Foreign Affairs of Austria, has praised the UAE's regional and global stature and its advanced experience and capabilities in attracting investments through providing business incubators.

During his meeting with Abdullah Mohamed Al Mazrouei, Chairman of Abu Dhabi Chamber of Commerce and Industry (Abu Dhabi Chamber), at the Chamber’s headquarters in Abu Dhabi, Schallenberg highlighted the facilities that his country offers to foreign businesses to attract more investments and encourage innovation in all sectors.

The meeting explored the prospects of increasing trade and investment cooperation between the two countries.

Dr. Mohamed Rashid Al Hameli, Chairman of Emirats Steel Industries, and Rashid Abdul Kareem Al Blooshi, Under-Secretary of the Abu Dhabi Department of Economic Development, attended the meeting along with Saeed Ghumran Al Remeithi, Vice Treasurer of the Abu Dhabi Chamber; Mohamed Helal Al Mheiri, Director-General of the Chamber; and his Deputy Abdullah Ghurair Al Qubaisi.

Al Mazrouei expressed his delight for receiving the Austrian Minister and the accompanying delegation, noting that his visit reflects the keenness of the Austrian leadership to enhance bilateral relations between the UAE and Austria.

'The UAE and Austria share a 50 year-long relationship and it has been growing and developing ever since on all levels, especially in economic and investment fields,' he said.

The Chairman emphasised that the UAE is Austria’s most important partner in the region, which is evidenced by the high-level coordination meetings between the two sides backed by the support of the countries’ leaderships and the opportunities they provide to one another. 'Both share the principles of economic openness, which contributes to drawing a clear roadmap for future cooperation.'

Al Mazrouei pointed out that being the voice of businesses in Abu Dhabi, the Abu Dhabi Chamber always strives to equip its members and the business community as a whole with the tools necessary to grow their businesses.

'We constantly strive to offer all types of support to Austrian companies wishing to establish partnerships with their Emirati counterparts, leveraging the enablers offered to foreign investors by the Abu Dhabi government, especially across the industrial, services, tourism, energy, and technology sectors,' he explained.

The Austrian Minister also underscored the importance of collaborating to familiarise businesses in both countries with the available investment opportunities across their markets.

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