UAE Minister of Industry and Advanced Technology stressed the investment is “commercially driven and not politically associated”
On Tuesday, UAE Minister of Industry and Advanced Technology (MoIAT) said that the country’s decision to invest about $10 billion in Israel was “commercially driven and not politically associated”. While explaining the Arab nation’s investment course across the globe, Dr Sultan Al Jaber said that UAE was at a “very early stage in studying the laws and policies in Israel”.
Dr Jaber said, “We are establishing what bilateral agreements need to be in place to support and protect our investments.” He stressed that “the UAE has a long history and rich track record in making the right investments in the right locations, based on the commercial assessment of that market”.
On Thursday night the country made public it plans of exploring investment prospects in Israel in different areas including energy, manufacturing, water, space, health care and agri-tech. Jaber clarified that both the nations were at an initial stage of the plan and a lot was yet to be discussed before formulating any agreement. Dr Jaber told reporters, “UAE is always on the lookout for attractive investments in the right locations, in a highly competitive world. There are plenty of opportunities in different markets and we continue to evaluate them based on both strategic merits and commercial value”.