Abdulla bin Touq Al Marri, the Minister of Economy, convened with top executives, investors, and CEOs from prominent French companies, with the aim of advancing economic cooperation between Abu Dhabi and Paris within the private sector.
The meeting was geared towards harnessing available opportunities that foster sustainable economic growth, particularly in emerging sectors of the new economy. Frederic Sanchez, President of the Movement of the Enterprises of France (MEDEF), also participated in this strategic gathering.
Bin Touq stated, “Economic and trade cooperation is the cornerstone for strengthening the partnership between the two nations and ensuring the prosperity and well-being of our people. Over the years, we have worked in collaboration with our partners in the French government to equip the private sector with the tools and capabilities necessary for their expansion and prosperity. This has yielded positive results, as evidenced by the increasing number of companies operating in the markets of both countries.”
He highlighted that the UAE has implemented a series of economic policies over the past three years, aligning with the visionary leadership’s goals, which have cultivated a robust and conducive environment for the growth of major French companies. This environment facilitates their entry into new markets.
The UAE offers these companies numerous incentives and advantages, including advanced infrastructure, flexible regulations that ensure fair competition, and a digital services system that streamlines business setup, he explained.
The Minister underscored that these factors have attracted more than 600 French companies to the UAE, employing over 30,000 individuals across various sectors, including renewable energy, transportation, logistics, hotels, aviation, space, banking, and insurance.
“The UAE is the second-largest GCC investor in France, with over 50 UAE companies operating in various sectors in France. We will continue working alongside our French partners to increase the number of companies operating in both countries’ markets, thereby contributing to the creation of thousands of job opportunities,” he added.
Furthermore, Al Marri emphasized the significant advancement in bilateral relations between the UAE and France across various areas of cooperation under the leaderships of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Emmanuel Macron of the French Republic.
During the meetings, Bin Touq elaborated on the pillars of the ‘We the UAE 2031’ vision, which aims to position the UAE as a global hub for the new economy. He discussed the steps taken by the UAE government to achieve this objective, including the continuous development of economic legislation and the launch of innovative initiatives and programs to support the business climate and attract foreign direct investment, especially in emerging sectors of the new economy.
He also highlighted the implementation of legislation to safeguard intellectual property rights and the rollout of an ambitious strategy aimed at attracting talent and fostering creativity and innovation, cementing the UAE’s status as a permanent hub for these endeavors.
Al Marri extended an invitation to French entrepreneurs and startup owners to capitalize on the promising opportunities offered by the UAE economy and expand their operations into the MENA and GCC markets, thereby enhancing their market penetration in these promising regions.
MEDEF, with its network of 173,000 companies, plays a vital economic role both within and outside France. It provides support to entrepreneurs and SMEs, representing approximately 95% of the total companies within its network. MEDEF offers innovative solutions, initiatives, and programs to enable sustainable growth for these businesses.
The Minister of Economy is leading a UAE delegation to France to explore opportunities for bolstering economic cooperation across various critical sectors, including renewable energy, tourism, aviation, entrepreneurship, artificial intelligence, space, intellectual property, and the circular economy.
