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Investment Office signs cooperation agreement with Sumitomo Mitsui Banking Corporation


2018-05-15

Abu Dhabi Investment Office (ADIO) of the Department of Economic Development (DED) in Abu Dhabi signed a mutual cooperation agreement with Sumitomo Mitsui Banking Corporation (SMBC) which has a turnover of US$ 2 billion in the Emirate of Abu Dhabi to reinforce mutual cooperation in various fields pertaining to the encouragement of direct foreign investment between the Emirate of Abu Dhabi and Japan.

       

The agreement was signed by Mr. Ahmed Bin Ghannam, CEO of ADIO, and Mr. Makoto Takashima, CEO of SMBC, on the sidelines of the UAE-Japan Business Forum at the InterContinental Abu Dhabi. Attendees included His Excellency Eng. Sultan Bin Sa’eed Al Mansouri, the Minister of Economy, His Excellency Shinz┼Ź Abe, Prime Minister of Japan, His Excellency Saif Mohammad Al Hajeri, Chairman of the DED, as well as several officials from both sides.

As per the agreement, the two sides agreed to organize several events that focus on businessmen and investors from Japan who wish to invest or do business in the Emirate of Abu Dhabi.

Accordingly, ADIO will provide the potential Japanese investors with all the information and data they need to support the development of their business and investments in the Emirate of Abu Dhabi. It will also work on providing assistance and support to Japanese investors who have established business in the Emirate in order to expand their investments and reinforce their partnerships with all related bodies. 

On his part, His Excellency Al Hajeri emphasized that the government of Abu Dhabi is keen on reinforcing and supporting the Japanese investments in the Emirate by providing all kinds of capabilities and incentives that will enable the Japanese investors and businessmen gain access to real investment opportunities in the UAE.

 

He also pointed out that a high-profile delegation representing the government of Abu Dhabi and the private sector will be visiting Tokyo between May 7th and 8th, 2018 as part of Abu Dhabi government’s keenness to create a variety of investment opportunities and attract more Japanese investments to the Emirate.

 

Moreover, Al Hajeri stated that the agreement will enhance investment opportunities between the two sides in light of the development projects that the government of Abu Dhabi is currently implementing in many economic sectors, such as industry, business, money markets, education, health, information technology, infrastructure and others.

 

On his part, Takashima said the agreement with ADIO will help explore investment funding opportunities in the Emirate of Abu Dhabi, which will enable both sides to enhance their mutual cooperation in identifying promising investment opportunities and expand the Japanese investors’ businesses in the Emirate.

 

Ghannam, CEO of ADIO, said that this agreement with SMBC, which has extensive experience in the banking field, will help ADIO provide consultancy and loaning with respect to corporate finance, structured finance, and the projects financing transactions in a variety of economic sectors that the Emirate of Abu Dhabi has.