FINANCIAL NEWS

Italian firms to invest in UAE

29 Jun 2011

(MENAFN) UAE’s Minister of Economy, Sultan bin Saeed Al Mansouri, said that to take advantage of the second largest Arab economy’s attractive investment environment, more than fifty Italian firms would be willing to invest in the UAE, reported Khaeej Times.

Al Mansouri added that the UAE-Italy Joint Economic Committee met in Italy to discuss potential investment opportunities in the UAE for Italy’s public and private sectors.

He also said that following the meeting, the two sides formed an integrated mechanism to follow up the Committee’s recommendations and strengthen mutual relations between the two countries, ensuring direct communication with Italians to evaluate the progress on the implementation of several initiatives identified at the Joint Committee.

It is worth noting that both the UAE and Italy will expand investments in both countries and will open new prospects for cooperation in a number of vital economic sectors, mainly industry, trade and small and medium enterprises.

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