KOTRA Signs MOU with UAE Overseas Investors Council to Promote Investment

Business Agreement Signed on the 16th in Abu Dhabi to Promote Korea-UAE Investment Cooperation

KOTRA announced on the 16th that Invest Korea, the national investment promotion agency, and the UAE Overseas Investors Council (UAEIIC) signed a memorandum of understanding in Abu Dhabi to promote investment cooperation between Korea and the UAE.

Through the memorandum of understanding, both countries agreed on comprehensive cooperation for activating investment, including ▲exchange of economic and investment information ▲discovery of investment projects ▲promotion of cooperation between companies.

UAEIIC is a quasi-governmental organization under the UAE Ministry of Economy, established in 2009 to support the overseas expansion of UAE companies. Currently, the UAE Minister of Economy concurrently serves as the chairman of the council, which has 22 leading UAE companies as members, including Mubadala, Abu Dhabi National Oil Company, and Dubai Ports World.

Kim Tae-hyung, CEO of Invest Korea, said, “The cooperation between the two organizations is expected to act as a lubricant for UAE companies’ investment in Korea,” adding, “Invest Korea will strive to exchange information so that the UAE can smoothly seek investment opportunities in Korea, where various industries are evenly developed.”

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