UAE and Moldova step up efforts to promote mutual investments

Chisinau / Emirates Business

Eng. Sultan bin Saeed Al Mansouri, Minister of Economy, recently met Moldovan Prime Minister Pavel Filip as part of an extended high-level Emirati visit to Moldova. Representatives from the government and the private sector, investors, and entrepreneurs invited to attend the UAE-Moldova Business Forum were also present during the meeting set to discuss potential collaborative efforts between the two countries in the next phase.
Other delegates who attended the meeting included Eng. Mohammed Ahmed bin Abdul Aziz Al–Shehhi, Undersecretary for Economic Affairs; Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs; Mohammed Nasser Hamdan Al Zaabi, Director of the Trade Promotion and Investment Department; and Marwan Al Sarkal, CEO of the Sharjah Investment and Development Authority (‘Shurooq’).
Al Mansouri said during the meeting that multiple opportunities abound for the UAE and Moldova to develop their economic relations and push forward mutually beneficial trade, investment and cooperative agreements. The UAE minister assured that the Gulf nation is keen on strengthening its relations with the Eastern European country based on respect, openness and common interests.
Al Mansouri also highlighted UAE’s fruitful and positive relations with various highly competitive regional and global economies. The Emirates, he said, constantly develops its ties worldwide to push its economic and commercial interests. In the case of its partnership with Moldova, the UAE will promote common interests in key socio-economic areas, which can bring about prosperity for both countries and their people.
Showcasing the UAE’s fundamental economic elements, strengths, and development according to UAE Vision 2021, said that the country is committed to promoting diversity and sustainability as well as reinforcing the role of knowledge and innovation in its development. Further, the UAE is working towards enhancing the capabilities of its citizens and raising the contributions of technology and research and development to different industries. The country is focusing on tourism, renewable energy, transport, health, small- and medium-sized enterprises (SMEs), foreign trade, and incoming and outgoing investments.
Given the two countries’ strategic geographical locations, infrastructure, agricultural and food products, and information and communications technology (ICT) are vital sectors for trade cooperation. They can enhance their import, export and re-export activities in these areas.
Al Mansouri invited the Moldovan Prime Minister to the next Annual Investment Forum in the UAE, which gather investors, businessmen, economic officials, and business and financial experts from over 140 countries. He also took the opportunity to bring up Dubai’s upcoming hosting of World Expo 2020, paving the way for considerable collaborative and investment prospects.
For his part, the Moldovan Prime Minister expressed his country’s interest to enhance its bilateral economic relations with the UAE and attract UAE investments into the Moldovan economy.
Moldova is considered a safe country for investment and doing business. It signed an agreement with the International Monetary Fund as part of its move to reinforce its economy and enhance its financial capacity. It is now in the process of enhancing relations with various nations to strengthen its vital sectors.
Moldova, which boasts robust relations with its neighbours, is a gateway to the European Union via the existence of a free trade agreement. Regionally, it is widely recognized for its investment potentials.
The Moldovan Prime Minister further shared that his government has taken several steps to improve the local business sector and attract investments. These measures include simplifying procedures, removing bureaucratic obstacles, establishing ICT regions to foster a business environment driven by technologies and innovation, and promoting privatization in key areas this year. He called on UAE firms to invest and take part in Moldova’s growth process.