Abu Dhabi: A delegation of senior officials and business leaders from the UAE recently visited the US state of Texas to explore new bilateral investment and collaboration opportunities for private-sector companies.
The delegation was led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and included Mr. Mohamed Al Musharrakh, CEO of Sharjah FDI Office, Mr. Abdulla Al Yousif Al Suwaidi, Executive Director at Economic and Energy Affairs, Mr. Saud H. Al Nowais, UAE Commercial Attaché (Counselor) for the UAE Embassy, Mr. Karim Gamal, Director and Chief of Staff, Trade Office at the UAE Embassy, and Mr. Ahmad AlSawalhi, Director of Special Projects & Outreach – Trade Office at the UAE Embassy.
Texas is the largest state exporter to the UAE, making it a crucial partner in the country’s economic development plans. During the visit, Dr. Al Zeyoudi met with Austin Mayor Mr. Kirk Watson to promote the UAE’s streamlined business registration process, skilled workforce, and world-class infrastructure. The Minister also attended an Austin Chamber of Commerce Roundtable, where he explored new avenues to boost bilateral trade, especially in the IT, automotive parts, and machinery verticals.
Dr. Al Zeyoudi held a number of one-on-one meetings with leading Austin-based start-ups that are using technologies such as AI, blockchain, and quantum computing to advance sectors like real estate, emergency response, logistics, utilities, and media. Dr. Al Zeyoudi emphasized the UAE’s unique innovation ecosystem during the meets and highlighted the market-access incentives provided by the NextGenFDI initiative such as rapid incorporation and licensing, bulk visa issuance, and ready access to banking facilities and real estate.
The Texas tour concluded with a site visit to Stealth Power, a provider of fleet electrification and off-grid solutions that lower carbon emissions across utility, emergency, and military fleet vehicles. Dr. Al Zeyoudi commented that the UAE is prioritizing investment into sectors such as renewable energy and clean tech as they represent not only high-growth potential but provide world-changing solutions to the critical issue of climate change.
Dr. Al Zeyoudi stated that the US is a long-standing trade and investment partner for the UAE and an important ally in the battle to develop alternative sources of energy. The Minister mentioned that the Partnership for Accelerating Clean Energy, which mobilizes $100 billion to develop 100 gigawatts of clean energy by 2035, was signed in November 2022 and the UAE remains committed to finding new avenues of cooperation to uphold their Net Zero pledge.
“It has been highly encouraging to see the innovation on display here in the US in a wide number of areas, from low-carbon transport and hospitality to smart cities, and we are keen to pursue partnerships that will further their development,” Dr. Al Zeyoudi added.