* You can read full text as follows.
202011AbrahamAccordEnglish.pdf (maeda1.jp)
(Arabic Version)
Nov, 2021
3. Private sector and investment promotion
Regarding private sectors, Israel
is more enthusiastic than UAE. Israel-UAE
Business Council has opened its homepage immediately[1].
There are many entrepreneurs and start-up entities in Israel. They have a
strong demand for money. The UAE, on the other hand, is flooded with oil money
and is looking for promising investment opportunities. The peace agreement
between the two countries has created an ideal investment environment where the
money match makings take place.
It has been announced that the
Abu Dhabi Investment Office (ADIO), the government's investment arm, would open
its office in Tel Aviv, Israel, to improve the investment environment[2].
ADIO has signed a trade and investment cooperation agreement with the Israel
Export Institute[3]. In late September, delegation
of the Israeli Chamber of Commerce visited the UAE. They signed an agreement
with the Dubai Chamber of Commerce to strengthen economic cooperation and a MoU
with the Jeber Ali Free Zone Agency (JAFZA)[4].
Visits of Senior Advisor to the
US President Jared Kushner with Israeli government delegation by the first Tel
Aviv-Abu Dhabi flight in August has shown President Trump's strong commitment
to the peace agreement. On October 19, the first flight of Etihad Airways of
Abu Dhabi landed on Tel Aviv Airport. Joint public-private mission led by the
UAE's economic ministers and accompanied with US Treasury Secretary Steven
Mnuchin visited Israel for the first time[5].
The first UAE-Israel Business Summit (Abraham Accord Business Summit) was held
on the occasion of a visit to the UAE mission.
As the business environment
between the governments improved, the joint investment fund started as a front
runner of the joint ventures between the two countries. Al-Naboodah in Dubai
and OurCrowd in Israel have agreed to establish a $ 1.5 billion fund[6].
Dubai's Al-Habtoor Group has announced plans to open a representative office in
Israel as a pioneer of UAE private companies[7].
The group aims to earn first-mover advantage in business with Israel.
State-owned DP World in Dubai,
which has grown into a global port operator, is going to participate in a
privatization bid for Israel’s second largest Haifa Port in partnership with an
Israeli company[8]. The first container
ship from the UAE arrived at Haifa Port on October 12, opening a new route
between Europe-Israel-UAE. Dubai's JAFZA already has containership routes to
East Africa, India, Singapore and the Far East. Dubai is expected to become as
a global shipping hub.
(cont’d)
By Areha Kazuya
E-mail: Arehakazuya1@gmail.com
[1] UAE-Israel Business Council HP:https://www.uaeisraelbusiness.com/
[2] Abu Dhabi
Investment Office to open in Tel Aviv
2020/9/16
Arab News
[3] Abu
Dhabi, Israel sign cooperation agreement on trade and investments
2020/10/7
Arab News
[4] Dubai,
Tel Aviv sign agreement to foster bilateral economic cooperation
2020/9/24
Khaleej Times
[5] First
Emirati passenger flight lands in Israel
2020/10/19
Arab News
[6] UAE and
Israel join forces on venture capital investments
2020/10/6
Arab News
[7] Dubai’s
Al-Habtoor Group to open representative office in Israel
2020/9/20
Arab News
[8] Dubai’s
DP World to work with Israeli firm in bid for Haifa Port
2020/9/17
Arab News
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