Latest news with #ThanibinAhmedAlZeyoudi
Mid East Info
3 days ago
- Business
- Mid East Info
Quest Global Joins UAE's NextGen FDI Initiative to Support Local Engineering Research and Development - Middle East Business News and Information
Engineering research company plans to open high-value engineering centers across the UAE HE Dr. Thani Al Zeyoudi: 'By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, Quest Global's cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent.' July, 2025 – Abu Dhabi, UAE: The UAE Ministry of Foreign Trade has announced that Quest Global, a Singapore-based engineering research and development services company, will establish a presence in the United Arab Emirates through the NextGen FDI initiative – a pioneering program that seeks to attract high-impact companies from around the world through a suite of market-entry fundamentals such as rapid incorporation and fast-track issuance. Quest Global will now open a number of client-centric, high-value engineering centers (HVECs) throughout the UAE, which will offer support to businesses in sectors such as energy, defense, and advanced manufacturing. Quest Global's engineering expertise, coupled with AI and digital technologies, will help transform companies by enhancing operations, fostering innovation and optimizing supply-chains. His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Quest Global's entry into the UAE market, which he says underlines the country's status as a platform for growth: 'The NextGen FDI initiative was created to attract forward-thinking, ambitious enterprises such as Quest Global to the UAE. By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, their cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent. Quest Global's participation in the initiative also helps reinforce the UAE's status as an economic hub that facilitates expansion into regional and global markets.' Robert Vatter, Executive President Quest Global says that the NextGen FDI initiative opens up important opportunities for the company: 'Quest Global serves as a strategic ER&D partner to large global companies across energy, aerospace and defence, and other industries. By facilitating the establishment of high value engineering centers in the UAE, the NextGen FDI Initiative will enable us to extend this support to companies based in the UAE and the wider GCC – helping them realize their business ambitions, develop their talent and accelerate their contribution to the development a knowledge economy.' Since its launch in 2022, the NextGen FDI Initiative has enabled a range of pioneering companies establish a footprint in the UAE, helping to develop clusters of excellence in future-focused sectors such as artificial intelligence, robotics, alternative energy and storage, hybrid aviation, and precision fermentation. Together, they are supporting the UAE's transition to a knowledge- and innovation-based economy.
Al Etihad
4 days ago
- Business
- Al Etihad
Quest Global joins UAE's NextGen FDI initiative to support local engineering research, development
16 July 2025 18:37 ABU DHABI (WAM) The UAE Ministry of Foreign Trade has announced that Quest Global, a Singapore-based engineering research and development services company, will establish a presence in the UAE through the NextGen FDI initiative – a pioneering programme that seeks to attract high-impact companies from around the world through a suite of market-entry fundamentals such as rapid incorporation and fast-track Global will now open a number of client-centric, high-value engineering centres (HVECs) throughout the UAE, which will offer support to businesses in sectors such as energy, defence, and advanced Global's engineering expertise, coupled with AI and digital technologies, will help transform companies by enhancing operations, fostering innovation and optimising supply Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Quest Global's entry into the UAE market, which he says underlines the country's status as a platform for growth. 'The NextGen FDI initiative was created to attract forward-thinking, ambitious enterprises such as Quest Global to the UAE. By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, their cutting-edge research centres will support our industrial transformation goals, improve productivity, and develop national talent. Quest Global's participation in the initiative also helps reinforce the UAE's status as an economic hub that facilitates expansion into regional and global markets.'Executive President Quest Global, Robert Vatter, says that the NextGen FDI initiative opens up important opportunities for the company, 'Quest Global serves as a strategic ER&D partner to large global companies across energy, aerospace and defence, and other industries. By facilitating the establishment of high-value engineering centres in the UAE, the NextGen FDI Initiative will enable us to extend this support to companies based in the UAE and the wider GCC – helping them realise their business ambitions, develop their talent and accelerate their contribution to the development of a knowledge economy.'Since its launch in 2022, the NextGen FDI Initiative has enabled a range of pioneering companies to establish a footprint in the UAE, helping to develop clusters of excellence in future-focused sectors such as artificial intelligence, robotics, alternative energy and storage, hybrid aviation, and precision fermentation. Together, they are supporting the UAE's transition to a knowledge- and innovation-based economy.
Arabian Post
6 days ago
- Business
- Arabian Post
UAE Secures Dominant Role in Azerbaijan Gulf Trade
Arabian Post Staff -Dubai UAE's new Comprehensive Economic Partnership Agreement with Azerbaijan has catapulted bilateral non‑oil trade to unprecedented levels, now accounting for half of Azerbaijan's commerce with Gulf Cooperation Council countries. This landmark pact promises to mould economic trajectories for both nations by 2031. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, revealed that non‑oil trade surged by 36.2 percent in 2024, reaching US $2.24 billion—equivalent to 50 percent of Azerbaijan's trade with the GCC. This accomplishment is underpinned by a robust 4.1 percent expansion in Azerbaijan's overall GDP and a 6.3 percent rise in its non‑oil sector. ADVERTISEMENT Signed in Abu Dhabi with the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Azerbaijani President Ilham Aliyev, CEPA is expected to inject US $680 million into UAE GDP and US $300 million into Azerbaijan by 2031. It further cements the UAE's status as Azerbaijan's top Arab investor, with cumulative UAE investments now exceeding US $1 billion. The CEPA supports strategic priorities in manufacturing, automotive, agriculture, logistics, and financial services, with planned expansion of UAE investments in energy and renewables via state-owned giants ADNOC and Masdar. Masdar's portfolio in Azerbaijan is set to exceed 1.2 GW by 2027 following a 4 GW renewables agreement including solar and hydrogen projects. This accord also aligns with broader UAE ambitions under its CEPA programme, aimed at achieving US $1.1 trillion in non‑oil trade by 2031. Already, the initiative delivered a record US $816 billion in 2024, marking a 14.6 percent year-on-year increase, and positions the UAE as having 27 CEPA agreements with markets comprising over one‑quarter of global population. Beyond trade figures, CEPA signifies a strategic push to diversify UAE exports and deepen supply‑chain resilience. It enables Azerbaijani goods access to Gulf and global markets, while encouraging UAE capital deployment in Eastern Europe via Azerbaijan's Gateway logistics advantage. Sectors like food security, real estate, and logistics are flagged for development across both economies. Financial cooperation is gaining momentum too. Talks between Azerbaijan's Central Bank and Abu Dhabi Securities Exchange may lay groundwork for capital-market linkages. Additionally, Azerbaijani remittances to UAE saw a 52.1 percent rise in Q1 2025, reaching US $18.8 million. Humanitarian and environmental collaboration with CEPA includes UAE support for demining through Azerbaijan's Mine Action Agency and joint efforts during COP summits. CEPA is poised to enrich private‑sector ties, particularly for SMEs, while also strengthening tourism links—highlighted by over 185 monthly flights connecting the UAE and Azerbaijan. Earlier cooperation has boosted non‑oil trade 43 percent in 2024 to about US $2.4 billion. In the energy domain, strategic joint ventures have been flourishing. ADNOC holds a 30 percent stake in Azerbaijan's Absheron project, and SOCAR reciprocated with oil‑field stakes in UAE territory. Renewable efforts include a 445 MW solar plant in Bilasuvar and a 315 MW installation in Neftchala under Saudi-UAE investment.
Hi Dubai
10-07-2025
- Business
- Hi Dubai
UAE Accounts for 50% of Azerbaijan's Trade with Gulf States
The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Azerbaijan, strengthening economic ties with one of the Caucasus region's fastest-growing economies. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, described Azerbaijan as a "hugely valuable trade and investment partner," noting that non-oil trade between the two countries surged 36.2% in 2023 to $2.24 billion—accounting for half of Azerbaijan's total trade with the GCC. The deal is expected to contribute $680 million to the UAE's GDP and $300 million to Azerbaijan's economy by 2031. It will also open new opportunities in key sectors including manufacturing, agriculture, automotive, logistics, and financial services. The agreement aims to remove trade barriers, enhance private-sector collaboration, and deepen economic integration through strategic Emirati investments, particularly in energy and renewables via ADNOC and Masdar. With Azerbaijan's non-oil sector growing by 6.3% in 2024 and GDP up 4.1%, the CEPA reflects both nations' commitment to sustainable, diversified growth. News Source: Emirates News Agency
Sharjah 24
09-07-2025
- Business
- Sharjah 24
UAE, Azerbaijan Pres witness signing of economic partnership
His Highness Sheikh His Highness described the agreement as a significant milestone in UAE-Azerbaijan relations, underscoring the two nations' shared aspirations to build a resilient, knowledge-based, and innovation-driven economy that meets future demands. The agreement was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and His Excellency Mikayil Jabbarov, Minister of Economy of Azerbaijan. The agreement aims to boost investment flows and unlock opportunities in vital sectors, including renewable energy, tourism, logistics, and construction services. It is also expected to enhance private sector collaboration, strengthen supply chains, and empower entrepreneurs and small and medium enterprises to expand their operations globally. The UAE-Azerbaijan CEPA represents a significant addition to the UAE's global trade programme, building on years of close cooperation between the two nations, with bilateral non-oil trade increasing 43% year-on-year to reach USD 2.4 billion in 2024. The UAE is a key trading partner of Azerbaijan and also the leading Arab investor in Azerbaijan, with investments exceeding USD 1 billion. The CEPA programme is an important pillar of the UAE's foreign trade agenda, which aims to increase non-oil foreign trade to USD 1.1 trillion by 2031. In 2024, the programme contributed to the UAE's record non-oil trade of USD 816 billion, marking a 14.6% year-on-year increase. With 27 agreements concluded, the CEPA programme reflects the UAE's commitment to open, rules-based trade to drive economic growth and diversify its economy, expanding opportunities for UAE businesses by enhancing access to high-growth markets around the world that represent over a quarter of the world's population.
