AIMing for a Stronger Economic Partnership between the United States and the UAE
April 27, 2017Micah Escobedo is a Communication Specialist at SelectUSA, a Program within the Department of Commerce’s International Trade Administration.
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Earlier this month, SelectUSA and the U.S. Commercial Service hosted the inaugural SelectUSA Investment Pavilion at one of the largest investment events in the world – the Annual Investment Mission (AIM) in Dubai, United Arab Emirates (UAE).
AIM is an increasingly important investment platform in one of the most rapidly developing regions on the planet. Hosted by His Highness Sheikh Mohammed Bin Rashid Al Maktoum – the Vice President of the UAE and Prime Minister and Ruler of Dubai – AIM attracts investors from around the Persian Gulf.
On April 2-4, the UAE-based SelectUSA team was joined by economic developers from the states of Missouri and Virginia, and the cities of Columbus, Ohio, Los Angeles, St. Louis, and Kansas City, Mo..
The days went by quickly in Hall 5 of the Dubai World Trade Centre. Hundreds of business investors stopped by the pavilion to see what the United States has to offer. In fact, the SelectUSA in the UAE secured more than 30 meetings between U.S. economic developers and international investors (and there are already several strong leads for follow up). Additionally, U.S. Consul General Paul Malik hosted a networking reception at his residence for the U.S. delegates and nearly 20 investors from across the Gulf region.
Whether the SelectUSA team is talking with Emirati business executives or representatives from an SME from another part of the world, promoting the United States as the place to grow a business isn’t difficult. The United States is widely known as the world’s most attractive consumer market, offering unmatched diversity, a thriving culture of innovation, and one of the most productive and skilled workforces. With a GDP of more than $18 trillion, the United States is the largest single market in the world, and we are consistently ranked as the world’s top business investment destination.
FDI is a key pillar in the U.S.-UAE economic relationship. Between 2012 and 2014, U.S. FDI in the UAE skyrocketed by more than 76 percent to $15 billion. At the same time, UAE FDI in the United States jumped nearly 34 percent to $27.6 billion. This mutually beneficial partnership creates jobs, spurs innovation, and leads to more diversified markets in both countries. In 2014 alone, almost 13,000 Americans were employed by majority-Emirati owned firms.
The United States welcomes investors from the UAE and around the world, and we are glad we could be a part of AIM in 2017.
Another event we are excited about is the SelectUSA Investment Summit, the premier FDI event in the country, which will bring the diversity of the United States together under one roof – enabling any business to find the people, the resources, and the market it needs to be successful. This year’s Summit is just a couple months away – June 18-20. For more information, please visit www.selectusasummit.us.
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