ABU DHABI, 2nd March, 2023 (WAM) — The UAE International Investors Council (UAEIIC) signed a Memorandum of Understanding (MoU) with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN), which is based in Tokyo.
The MoU focuses on expanding the circle of coordination and investment cooperation between the two institutions to serve their common interests.
The agreement constitutes a nucleus on which to build and encourage more partnerships between the business communities and private sector companies from both sides, build their capacities, and encourage bilateral and multilateral investments, especially in the Middle East and Africa region, in a number of areas of common interest, especially in potential infrastructure and transport projects, in a way that contributes to achieving the aspirations of the two institutions and supports their development efforts.
The MoU was signed at the Council’s headquarters at the Ministry of Economy in Abu Dhabi by Jamal bin Saif Al Jarwan, Secretary-General of UAEIIC, and Tatsuhiko Takesada, President and CEO of JOIN.
The agreement was signed in the presence of Akio Isomata, Ambassador of Japan to the UAE; Rashed Saud Al Shamsi, member of the Board of Directors of UAEIIC; Faisal Khouri, VP, Packaging, MEA- Borouge; and a number of representatives from both sides.
On this occasion, Al Jarwan said, “We are pleased today to sign this agreement with JOIN to enhance the role of the private sector, stimulate growth, create appropriate projects and opportunities for investment and establish new economic partnerships.”
He added, “This agreement reaffirms the UAE International Investors Council’s was chaired by Minister of Economy Abdullah bin Touq Al Marri’s approach to building bridges of cooperation and complementary work with relevant international institutions and parties, to create constructive partnerships and support the Council’s ambition to achieve the growth of UAE investments, as this agreement will contribute to creating new paths that support the growth of mutual investments on the one hand or through potential investments on a wider international scale on the other hand, especially in light of the changes in the global economy, geopolitical events and the effects of climate change, the need for Advanced infrastructure capable of withstanding disasters and climate change, which requires huge investments on a large scale, in order to develop infrastructure in the markets of the region and Africa.”
For his part, Takesada stated, “We are pleased with this agreement, as the purpose of this MoU is to coordinate and cooperate with each other on potential projects from the early stages, especially on projects related to infrastructure, urban development and transport projects in the UAE and other countries, especially the Middle East and North Africa region, to drive sustainable growth.”
He explained that the two countries have great economies, which are based on knowledge, technology, experience, financial capabilities and strong international reputation through which to access the markets of the Middle East and Africa.
JOIN continuously strives to be involved in the overseas transport and urban development projects from the early stages, cooperating with host governments and related parties, to facilitate the entry of the Japanese companies through the creation of a business environment that encourages their participation in overseas projects.
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