UAE and Moldova step up efforts to promote mutually beneficial investments

Sultan bin Saeed Al Mansouri, UAE Minister of Economy, has met with Moldovan Prime Minister, Pavel Filip, as part of a high-level delegation visit to Moldova.

Representatives from the government and private sectors, investors, and entrepreneurs who were invited to attend the UAE-Moldova Business Forum were also present during the meeting to discuss potential collaborative efforts.

Other UAE delegates attending the meeting included Mohammed Ahmed bin Abdul Aziz Al–Shehhi, Under-Secretary for Economic Affairs, Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign Trade Affairs, Mohammed Nasser Hamdan Al Zaabi, Director of the Trade Promotion and Investment Department, and Marwan Al Sarkal, CEO of the Sharjah Investment and Development Authority, Shurooq.

During the meeting, Sultan Al Mansouri said that opportunities abound for the UAE and Moldova to develop their economic relations and push forward mutually beneficial trade, investment and cooperative agreements. The Minister assured all present that the UAE is keen on strengthening its relations with the Eastern European country based on respect, openness and common interests.

Al Mansouri also highlighted the UAE’s fruitful and positive relations with various highly competitive regional and global economies. The Emirates, he said, constantly develops its ties worldwide to push its economic and commercial interests. In the case of its partnership with Moldova, the UAE will promote common interests in key socio-economic areas, which can bring about prosperity for both countries and their people, given that the two countries’ strategic geographical locations, infrastructure, agricultural and food products, and information and communications technology, ICT, are vital sectors for trade cooperation.

Showcasing the UAE’s fundamental economic elements, strengths, and development according to UAE Vision 2021, the Minister said that the country is committed to promoting diversity and sustainability, as well as reinforcing the role of knowledge and innovation in its development. The UAE is also working towards enhancing the capabilities of its citizens and raising the contributions of technology, and research and development in different industries.

Al Mansouri invited the Moldovan Prime Minister to the upcoming Annual Investment Forum in the UAE, which gather investors, businessmen and women, economic officials, and business and financial experts from over 140 countries. He also took the opportunity to bring up Dubai’s upcoming hosting of World Expo 2020 which is paving the way for considerable collaborative and investment prospects.

Prime Minister Filip expressed Moldova's interest in enhancing bilateral economic relations with the UAE and to attract UAE investments into the Moldovan economy. Moldova is considered a safe country for business investment.

The country signed an agreement with the International Monetary Fund as part of its move to reinforce its economy and enhance its financial capacity, and is now in the process of enhancing relations with various nations to strengthen its vital economic sectors. Moldova, which boasts robust relations with its neighbours, is a gateway to the European Union via the existence of a free trade agreement. Regionally, it is widely recognised for its investment potentials.

The Prime Minister called on UAE firms to invest and take part in Moldova's growth, as the government has taken several steps to improve the local business sector and attract investments. These measures include simplifying procedures, removing bureaucratic obstacles, establishing ICT regions to foster a business environment driven by technologies and innovation, and promoting privatisation in key areas.