Reinforcing economic & bilateral ties with the United Arab Emirates (UAE)
In the margins of the 8th edition of the Annual Investment Meeting, the Minister of Foreign Affairs, Regional Integration and International Trade, Hon S. Lutchmeenaraidoo, G.C.S.K and a delegation comprising representatives of the Economic Development Board and the Ministry of Foreign Affairs, Regional Integration and International Trade proceeded to an official mission to Dubai and Abu Dhabi from 06th to 12th April 2018.
The Annual Investment Meeting - The World’s leading FDI platform was held at the Dubai World Trade Centre under the theme “Linking Developed and Emerging Markets Through FDI: Partnerships for Inclusive Growth and Sustainable Development”. This annual forum is one of the key regional events on foreign direct investment in the Middle East and North Africa and is organized by the UAE Ministry of Economy under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. The event aimed at exploring the best practices to create inclusive growth for all economic participants of host nations and to analyse legal frameworks and policy mixes that Governments should adopt to encourage MNE’s in protecting the social and environmental fabric.
It is the region's first emerging markets FDI-focused event to offer a perfect blend of trade fair and intellectual features aimed at enriching institutional, corporate and individual investors attending with a comprehensive set of guidelines for their future investment decisions in high growth regions. Established as one of the most prominent gathering for foreign trade and FDI, AIM attracts a mix of high profile government officials, private asset owners and project promoters from across the globe.
An important feature of the Annual Investment Meeting is AIM Investment Awards. This initiative was launched for the first time at AIM 2013 and has become a widely appreciated recognition of the best investment promotion agencies (IPAs) attracting the best investment project in a given year. In a special ceremony which was held during the Gala dinner, Investment awards were granted to selected Investment Promotion Agencies in recognition of their successful investment promotion strategies and exceptional investment projects. For the Sub Saharan region, the Economic Development Board has been acclaimed for its outstanding performance and honored with the second prize for the Best Investment project namely the “Convergys” project.
Moreover, the EDB coordinated one-to-one meetings with high profile individuals including the Chairman of the NMC Group, Chairman of Armada Group, the Director of the Hong Kong Trade Development Council for Middle East and Africa and the Director of Dubai Exports.
It should also be highlighted that the EDB accompanied Hon. S. Lutchmeenaraidoo, G.C.S.K, during several important bilateral meetings to discuss avenues of cooperation between the two countries. High-level interactions were held with H.E Reem Ebrahim Al-Hashimi, Emirati Minister of State and Managing Director for the Dubai World Expo 2020, H.E Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy.
The Minister of Foreign Affairs, Regional Integration & International Trade also met with UAE Minister of Foreign Affairs and International Co operation, H.H Sheikh Abdullah bin Zayed bin Sultan Al Nahyan.
The meetings and working sessions were very fruitful and some of the main outcomes of the mission are as follows:
- The Government of UAE agreed to treat Mauritius as a “fully assisted country” and as such, promised to finance most of the costs of participation in the Dubai Expo 2020 exhibition scheduled as from October 2020 over six months.
- The UAE will apply for the opening of an Embassy in Mauritius in 2019.
- The Chargé d’Affaires of the UAE Embassy based in Maputo who also oversees Mauritius has been called back to the UAE to coordinate a Business Mission to Mauritius. The delegation should comprise of high-profile Emirati operators keen on investing in Mauritius or show interest in exploring the African market through Mauritius.