Abu Dhabi Department of Economic Development Hosts Third UAE Investment and Business Forum

- 200 industrial leaders and investors attend the forum at Hannover Messe 2014

8 April 2014 – Hannover, Germany: The Abu Dhabi Department of Economic Development, in cooperation with the German Arabic Chamber of Industry and Commerce, hosted its third United Arab Emirates Investment and Business Forum on the sidelines of the Hannover Messe 2014 today.  More than 200 investors and businessmen from German and European industries attended the event to hear UAE industry leaders discuss topics including Abu Dhabi’s energy mix and investment into special economic zones.

The forum kicked off with signing ceremonies for two important new industrial projects for Abu Dhabi, secured by ZonesCorps, the largest operator of industrial zones in the UAE: Ansaldo Thomassen, Italy’s leading industrial conglomerate, who double its presence in ZonesCorp’s Industrial City; and Ittihad International Investment, for a EUR200 million project.

"The UAE offers exciting investment opportunities in major development projects for foreign investors,” Olaf Hoffmann, Vice President of the Arab German Chamber of Commerce and Industry said.

Last year the UAE, Germany’s largest trade partner in the Middle East, held a trade volume of approximately €10.7 billion, whilst bilateral trade between the two countries amounted to more than € 10.5 billion at the end of 2012, up 23% compared to 2011.

"Today, Emirati-German relations reached an enhanced level of partnership. The UAE's generous participation in various international exhibitions and forums organised by Germany is a sign of the depth of this strategic relationship," Hoffman continued.

There are more than 1,000 German-owned companies operating in the UAE to date, whilst Emirati investment into the German market also continues to grow, particularly in the manufacturing, financial services, real estate and renewable energy sectors.

H.E. Juma Mubarak Al Junaibi the UAE Ambassador to the Federal Republic of Germany said, "Hanover Messe is the barometer of the world’s industrial development.  It promotes dialogue and cooperation between the global industry - that is why the UAE has, year after year, shown strong interest in participating in the fair.

"Recently the industrial and manufacturing sector in the UAE has developed to more capital-intensive, high-technology products such as electronics and machinery. Other industries such as plastic, fiberglass and processed metal, construction materials, handicrafts, textiles, food, and dairy products are among the country's expanding industries, driven by local and international demand", the Ambassador said.

In line with Vision 2021 and Abu Dhabi Economic Vision 2030, investment into non-oil sectors, such as industry, has steadily risen in the past five years.  From 2007 to 2011 the UAE increased the value of its industrial investments to approximately €22.7 billion, which marked an increase by 57%.

This year, ADDED returns to Hannover Messe for the seventh year with 35 per cent more participants and a 50 per cent larger stand than in previous years – a sign of its continued commitment to developing the UAE industrial sector.

The Third UAE Investment and Business Forum was attended by H.E. Juma Mubarak Al Junaibi the UAE Ambassador to the Federal Republic of Germany, H.E. Excellency Bernd Strauch, Mayor of Hanover, Dr. Rudolf Gridl Head of the Unit North Africa and the Middle East at the German Federal Ministry of Economy and Energy, Dr. Peter Göpfrich CEO of the German Emirati Joint Council for Industry and Commerce.