Sun 12-03-2023 11:00 AM
TOKYO, 12th March, 2023 (WAM) — The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) will kick off tomorrow in Tokyo and will continue for two days to discuss ways to enhance prospects for economic, trade and investment cooperation.
In the presence of more than 50 senior officials and executives from the public and private sectors from both sides, the council will explore new opportunities within a number of strategic economic sectors of common interest.
The meeting will be co-chaired by Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Kodaira Nobuyuki, President of the Japan Cooperation Centre for the Middle East (JCCME).
ADJEC will continue the efforts made from both sides to follow up on the implementation of the decisions made during previous sessions, and the recommendations issued by them, in addition to raising the level of cooperation between the business sectors of the two countries and to support Japanese companies to expand their investment in Abu Dhabi.
The session will focus on the discussions of work teams and joint groups to enhance cooperation in the energy, renewable energy, infrastructure, media, education and human resources development sectors.
As part of the 9th session of the council, ADDED will also organise a forum to introduce Japanese companies to the investment opportunities available in Abu Dhabi in the industrial, energy, finance and real estate sectors.
During the forum, the department’s Industrial Development Bureau will review investment opportunities between Abu Dhabi and Tokyo in the industrial sector. This is part of the bureau’s work to launch initiatives and form partnerships with international institutions to achieve the goals of Abu Dhabi’s industrial sector.
The goals include increasing the size of the industrial sector in the emirate to AED172 billion, creating 13,600 new job opportunities, and increasing Abu Dhabi’s non-oil exports to reach AED178.8 billion by 2031.
Several areas of cooperation will be presented by the Abu Dhabi National Oil Company (ADNOC) and the Abu Dhabi Future Energy Company (Masdar) in the areas of energy, petrochemicals and renewable energy.
Additionally, the Abu Dhabi Investment Office and the Abu Dhabi Residents Office will present programmes and incentives to encourage innovation that companies can benefit from. They will also offer programmes aimed at attracting talent, strengthening Abu Dhabi’s position as an international residence destination.
Representatives of the Abu Dhabi Global Market, the Abu Dhabi Securities Exchange and the Abu Dhabi IPO Fund will review new developments in the financial markets and Abu Dhabi’s position as the “Capital of capital”.
The Abu Dhabi-Japan Economic Council embodies the depth of the strategic relations between the two countries, which contributed to the establishment of a solid economic base and the promotion of joint cooperation in many sectors and areas based on innovation, technology and knowledge.
ADJEC will be attended by Satomi Ryuji, Parliamentary Vice-Minister of Economy, Trade and Industry of Japan; Shihab Ahmed Al Faheem, UAE Ambassador to Japan; Abdullah Al Mazrouei, Chairman of Abu Dhabi Chamber of Commerce and Industry; and Sameh Al Qubaisi, Director-General of Economic Affairs at ADDED.
Also attending will be Alia Al Mazrouei, CEO of Khalifa Fund for Enterprise Development, Abdulla AlShamsi, Acting Director-General of the Abu Dhabi Investment Office, and a number of government officials and private sector representatives from both sides.
The ADJEC was set up in early 2011 to promote communication and facilitate bilateral investment and trade in goods and services between Abu Dhabi and Japan. ADJEC also seeks to identify common factors affecting the economies of both countries and enhance their competitive edge across multiple sectors.
Tariq Al Fahaam