Latest news with #economicpartnerships
Zawya
4 days ago
- Business
- Zawya
Abu Dhabi Fund for Development explores new development opportunities in Lebanon
Reaffirming its longstanding commitment to international cooperation and sustainable development, Abu Dhabi Fund for Development (ADFD) joined the official UAE delegation on a high-level visit to the Republic of Lebanon, aimed at strengthening economic ties and advancing strategic partnerships. President His Highness Sheikh Mohamed bin Zayed Al Nahyan met with President Joseph Aoun in a working visit to the UAE in May, and the two leaders discussed ways to expand cooperation in economic, investment, and government sectors. As part of this effort, the ADFD was tasked to send a delegation to Lebanon to assess potential joint projects, while the UAE's Knowledge Exchange Office was tasked with visiting Beirut to share best practices on government performance and institutional excellence. The three-day visit brought together senior UAE officials and Lebanese leadership to explore collaborative solutions that support Lebanon's economic recovery and future growth. The delegation met with General Joseph Aoun, President of the Republic of Lebanon, where discussions centered around enhancing bilateral cooperation and supporting Lebanon's economic development efforts. Meetings were also held with Dr. Nawaf Salam, Prime Minister of Lebanon, and ministers from the Ministries of Finance, Energy and Water, Education, Health, Public Works, Telecommunications, and Interior. The delegation also engaged with several national institutions such as the Central Bank of Lebanon, the Higher Relief Council, and the Council for Development and Reconstruction. ADFD also visited the Banque de l'Habitat (Housing Bank) in Beirut to explore cooperation on offering concessional loans to support housing solutions and enable citizens to access affordable housing. Both parties agreed to continue coordination, including upcoming meetings in Abu Dhabi to discuss project implementation and follow-up on proposed initiatives. Mohamed Saif Al Suwaidi, Director-General of ADFD, said, 'The Fund's participation underscores the UAE's commitment to supporting friendly nations, continuing its leading role in fostering international cooperation. ADFD's partnership with Lebanon spans over five decades, during which we have helped implement strategic development projects across vital sectors such as infrastructure, education, energy, and healthcare.' He added, 'Our presence in Lebanon today reaffirms our deep commitment to supporting its government in tackling economic challenges and enhancing the quality of life for the Lebanese people. We aim to leverage our expertise and partnerships to help develop sustainable solutions that align with the country's aspirations for recovery and reconstruction.' During the Knowledge Exchange Forum, Lebanese Prime Minister Dr. Nawaf Salam praised ADFD's instrumental role in supporting Lebanon's development journey since the 1970s, describing the Fund as a trusted partner throughout various stages of national progress and an enabler of tangible improvements across key sectors. Site visits to the Port of Beirut, Beirut–Rafic Hariri International Airport, Beirut Governmental Hospital, and various public service institutions further underscored the delegation's focus on identifying immediate priorities and potential areas of collaboration.
Al Jazeera
5 days ago
- Business
- Al Jazeera
Will Southeast Asian nations pick sides between the US and China?
They've long been hedging their bets. But Southeast Asian nations are caught in the dispute between the United States and China. The trade-dependent countries are under threat from Trump's tariffs, too. They face a delicate balancing act between economic survival and strategic neutrality. The message was clear at the Association of Southeast Asian Nations – ASEAN's recent summit in the Malaysian capital Kuala Lumpur. Member countries are recalibrating their economic partnerships to insulate their economies. That includes a push to deepen trade ties with China and Gulf countries. Why is the price of Japanese rice rocketing? Plus, should older people work longer?
Zawya
6 days ago
- Business
- Zawya
Dubai Chambers showcases Dubai's competitive advantages to 60 companies from Madagascar
Participants in business forum explored high-potential economic partnerships H.E. Eng. Sultan bin Saeed Al Mansoori: 'The steady growth in economic ties between Dubai and Madagascar reflects the commitment of both sides to strengthen bilateral partnerships and explore new opportunities for impactful cooperation.' 'The launch of direct flights by Emirates to Antananarivo in 2024 marked a significant milestone in boosting bilateral trade, tourism, and collaboration.' 'Dubai's non-oil trade with Madagascar increased by 90% during 2024, reaching a value of AED 1.3 billion.' Dubai, UAE – Dubai Chambers has welcomed a delegation of 60 companies from Madagascar to explore investment opportunities and potential business partnerships during the Dubai–Madagascar Business Forum, which was held today at its headquarters. The event reaffirmed the significance of strengthening economic ties between Dubai and Madagascar and focused on advancing cooperation across high-potential trade and investment sectors. The forum was held in the presence of H.E. Andry Rajoelina, President of the Republic of Madagascar, who led a high-level delegation featuring ministers, senior government officials, and business leaders from Malagasy enterprises. The delegation was received by H.E. Eng. Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, together with representatives from Dubai's private sector. In his keynote address, H.E. President Rajoelina praised Dubai's remarkable global economic status and reaffirmed his country's interest in deepening bilateral relations across several priority sectors. During his welcome address at the forum, H.E. Eng. Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, stated: 'The steady growth in economic ties between Dubai and Madagascar reflects our shared commitment to strengthening bilateral partnerships and exploring new opportunities for impactful cooperation that support sustainable economic growth. The launch of Emirates Airlines' direct service to Antananarivo, Madagascar's capital, in September 2024 marked a significant milestone in boosting bilateral trade, tourism, and collaboration.' H.E. Al Mansoori added: 'Dubai's non-oil trade with Madagascar increased by 90% during 2024, growing from AED 692 million in 2023 to reach AED 1.3 billion. This significant leap reflects the expanding momentum of bilateral economic relations. We are committed to providing comprehensive support to develop relationships and partnerships between the business communities in Dubai and Madagascar, highlighting ways to capitalise on promising opportunities within vital sectors of mutual interest.' During the forum, H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, delivered a comprehensive presentation outlining promising sectors for bilateral investment and trade collaboration. H.E. Lootah highlighted key investment opportunities available in Dubai for businesses and investors from Madagascar across key sectors including tourism, entertainment, logistics, real estate, information technology, and financial services. About Dubai Chambers: Dubai Chambers is a non-profit public entity that supports Dubai's vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber of Commerce and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers. Follow us on: For more information, please contact: Mohamad Mouzehem PR & Corporate Communications Email:
South China Morning Post
26-05-2025
- Business
- South China Morning Post
How Hong Kong can reassert its global edge in an uncertain world
In the wake of Chief Executive John Lee Ka-chiu's successful visits to Qatar and Kuwait , Hong Kong's efforts to deepen connections with emerging markets are gaining strong momentum. The signing of 59 memorandums of understanding and agreements has laid the groundwork for advancing the city's economic and cultural links with the Middle East. The visit underscores Hong Kong's strategic role as a gateway connecting the Chinese mainland and the world and reflects the city's strategy to diversify global economic partnerships amid a rapidly evolving landscape. In today's interconnected world, a single disruption can trigger sweeping impacts and unprecedented volatility. With this volatility comes growing uncertainty. The dismantling of the post-Cold-War consensus on globalisation has given way to fragmented markets and arbitrary trade practices, compounding the complexity of deeply intertwined international relationships. This complexity, coupled with rapid technological breakthroughs , has created a climate of ambiguity in which a new global consensus has yet to emerge and the long-term implications of technological change remain unclear. In this evolving landscape that can be defined by the VUCA concept – which focuses on navigating environments characterised by volatility, uncertainty, complexity and ambiguity – Hong Kong's relevance is not diminished but amplified.
Zawya
23-05-2025
- Business
- Zawya
RAKEZ strengthens UAE–Italy investment dialogue during Milan business mission
Ras Al Khaimah: Ras Al Khaimah Economic Zone (RAKEZ) successfully led a business mission to Milan, reaffirming its role as a bridge between global markets and the UAE. As part of the mission, RAKEZ hosted an exclusive business breakfast with senior Italian industry leaders and took part in the third edition of Investopia Europe, contributing to high-level discussions around global investment trends and economic partnerships. The visit comes at a time of growing momentum in UAE–Italy relations. As bilateral ties expand, economic cooperation between the two countries has reached new heights—creating fertile ground for deeper engagement between business communities. Non-oil trade between the UAE and Italy reached USD 14.1 billion, marking a 21% year-on-year increase and more than 50% growth over five years. Italy now stands as one of the UAE's top trading partners within the European Union, with growing collaboration in various future-oriented sectors. Against this backdrop, RAKEZ's business breakfast in central Milan served as a strategic platform to explore these opportunities in more depth. The event brought together leaders from the automotive, engineering, luxury goods, and F&B sectors, offering a focused forum for discussing investment frameworks, expansion strategies, and the advantages of operating within Ras Al Khaimah's dynamic ecosystem. Among the highlights was a guest session by Michele Ammirati, Managing Partner at Well Tax—a long-standing partner of RAKEZ—who shared valuable insights into the UAE's tax system and its comparative advantages for European businesses. RAKEZ CEO Ramy Jallad said, 'Italian businesses bring world-class expertise, product excellence, and a spirit of innovation—qualities that align closely with the vision we've built at RAKEZ. Our goal is to provide them with a platform that's not only cost-effective and efficient but also built to support their long-term ambitions. From manufacturing to advanced services, we offer the flexibility, infrastructure, and access companies need to scale in the UAE and beyond.' RAKEZ currently supports a thriving community of over 30,000 companies, including more than 600 Italian ventures such as Italfoods, Emainox Kitchen Furniture Manufacturing, Neos Middle East, Siti BT Middle East, and Misano Middle East. These companies benefit from simplified set-up processes, scalable facilities, and personalised support tailored to their growth ambitions. Following the breakfast, Jallad participated in Investopia Europe, joining global investors and thought leaders to discuss evolving economic trends and the shifting geography of global opportunity. His participation reflected RAKEZ's strategic role not just as a business enabler, but as a thought partner in shaping the future of investment between Europe and the Middle East. Through this mission, RAKEZ continues to strengthen its global footprint and promote Ras Al Khaimah as a gateway for international businesses seeking to expand into the Middle East, Africa, and Asia. About Ras Al Khaimah Economic Zone (RAKEZ): RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 30,000 companies coming from over 100+ countries and operating in more than 50 industries. RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers. A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
