UAE explores prospects for cleantech collaboration with focus on startups
UAE and America discuss investment opportunities in the "economy of the future"
The UAE delegation held bilateral meetings with major startups in Austin. From the source
The UAE and the United States discussed strengthening partnership and investment opportunities in the sectors of the future economy, and exploring prospects for cooperation in the field of clean technology with a focus on startups.
This came during the visit of the UAE delegation to the US state of Texas, where the delegation held bilateral meetings with major startups in Austin, leading in clean technology solutions such as artificial intelligence, blockchain and quantum computing.
In detail, the Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, stressed that the UAE prioritizes investment in sectors such as renewable energy and clean technology, as they have high growth potential and provide globally impactful solutions to the problem of climate change.
According to a statement issued yesterday, the visit of a delegation of senior officials and business leaders in the UAE, headed by Al Zeyoudi, to the US state of Texas, which is the largest exporter of goods to the country among the rest of the US states, aims to explore opportunities for trade and investment cooperation between the business communities on both sides, with a focus on sectors of the future economy.
Al-Zeyoudi said that the United States is a long-term trade and investment partner for the UAE, especially in efforts to develop alternative sources of energy.
He added: "In November 2022, we signed the US-UAE partnership to accelerate the path of clean energy, which aims to invest $ 100 billion in the implementation of clean energy projects with a production capacity of 100 gigawatts by 2035."
"We remain committed to finding new ways of collaborating to support our pledge to achieve climate neutrality," he said.
He explained that during the visit, new innovations in the United States were reviewed in a large number of areas, ranging from hospitality and low-carbon transportation to smart cities.
During his visit to Texas, Al Zeyoudi held a meeting with the Mayor of Austin, Kirk Watson, where he presented the simplified mechanism for registering business in the UAE, and the advantages of the business environment, most notably the skilled workforce and world-class infrastructure, which stimulate the flow of foreign and local investments.
Al Zeyoudi also participated in a roundtable of the Austin Chamber of Commerce, attended by a number of senior state officials, where discussions took place on how best to promote intra-regional trade, especially in the fields of information technology, auto parts and machinery.
This was followed by a number of bilateral meetings of the UAE delegation with leading Austin startups, which are using technologies such as artificial intelligence, blockchain and quantum computing to develop the real estate, emergency response, logistics, utilities and media sectors.
During these meetings, Al Zeyoudi focused on the positive developments in the business environment in the UAE and highlighted the incentives to access the UAE market provided by the Next Generation of Foreign Direct Investment initiative, such as incorporation, rapid licensing, visa issuance, ease of access to credit facilities and real estate incentives.
The UAE delegation paid a field visit to Stealth Power, a company that supplies fleets with electricity and off-grid solutions that will reduce carbon emissions from utility, emergency and military vehicles.
Partnership with Vietnam
The Minister of Economy, Abdullah bin Touq Al-Marri, held a meeting with the Vice President of Vietnam, Photi Anh Xuan, to discuss the development of the economic partnership between the two countries during the next stage. The Ministry of Economy said in a statement yesterday that the two sides discussed enhancing joint cooperation in several fields, in addition to mechanisms to accelerate bilateral negotiations aimed at signing a comprehensive economic partnership agreement.