Leading French businesses, entrepreneurs and startups have been issued a warm welcome by the United Arab Emirates (UAE), which has encouraged them to explore the multitude of opportunities presented by the UAE economy. The objective is to get these companies interested in the MENA and GCC areas, where they may grow their operations.
High-Level Meetings to Foster Economic Ties
Abdulla bin Touq Al Marri, the Minister of Economy, recently held discussions with executives, investors, and CEOs of major French companies as part of an effort to enhance economic cooperation between Abu Dhabi and Paris at the private sector level. The meeting sought to leverage opportunities that support sustainable economic growth, particularly in emerging sectors of the economy. Frederic Sanchez, President of the Movement of the Enterprises of France (MEDEF), also attended this significant gathering.
A Shared Vision for Prosperity
Minister Al Marri underscored the pivotal role of economic and trade cooperation in bolstering the partnership between the UAE and France, emphasizing the well-being of their people as a shared objective. He stated that collaborative efforts in recent years have provided the private sector with tools and capabilities conducive to expansion. This collaborative spirit has resulted in a surge in the number of companies operating in both countries.
UAE’s Business-Friendly Environment
Al Marri also talked about how the UAE’s economic policies have helped major French businesses thrive. The United Arab Emirates (UAE) provides several inducements, including a cutting-edge infrastructure and a regulatory environment that encourages healthy competition. In addition, the United Arab Emirates has a digital services infrastructure that facilitates company formation.
Success Stories: French Companies Thriving in the UAE
More than 600 French firms, representing a wide range of industries including renewable energy, transport, logistics, hospitality, aviation, space, finance, and insurance, are now based in the UAE, employing more than 30,000 people as a direct result of these policies’ success. With more than 50 UAE firms present in France, the UAE is the second largest GCC investor in the country.
Building on Bilateral Relations
Minister Al Marri affirmed the commitment to continue collaborating with French business partners’s to increase the number of companies operating in both countries, leading to the creation of thousands of job opportunities.
Striving for the ‘We the UAE 2031’ Vision
The bilateral relations between the UAE and France have flourished in various areas of cooperation. Al Marri elaborated on the ‘We the UAE 2031’ vision during these discussions, which seeks to establish the UAE as a global hub for the new economy. The government is actively developing economic legislation, launching innovative initiatives, and attracting foreign direct investment, especially in emerging sectors. These efforts include legislation to protect intellectual property and strategies to attract talent and innovation.
MEDEF: Supporting Sustainable Growth
MEDEF, a network of 173,000 companies with significant economic influence in France and beyond, plays a key role in supporting entrepreneurs and small and medium-sized enterprises (SMEs). It offers innovative solutions and programs for sustainable growth, with about 95% of its member companies falling into the SME category.
A Future of Prosperity In the coming months, Minister Al Marri will lead a UAE delegation to France to discuss strengthening economic cooperation across vital sectors such as renewable energy, tourism, aviation, entrepreneurship, artificial intelligence, space, intellectual property, and the circular economy. This marks another significant step in the growing partnership between the UAE and France, paving the way for shared prosperity and mutual benefits.
