UAE: $10 billion investment in Israel is “commercially driven and not politically associated”

The UAE, Israeli and US flags sway in the wind at the Abu Dhabi airport at the arrival of the first-ever commercial flight from Israel to the UAE, on August 31, 2020. Image Credit AFP

The United Arab Emirates on Thursday announced it was setting up a $10 billion investment fund across multiple sectors in Israel.

Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said that the UAE’s announcement to study the investment prospects of $10 billion in Israel is “commercially driven and not politically associated”, and was in line with the UAE’s track record of looking for investment opportunities across the world.

He added that “the UAE is always on the look out 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”.

The announcement was made following a call between Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed and Israeli Prime Minister Benjamin Netanyahu on Thursday. Through this fund, the UAE will invest in and alongside Israel across sectors including energy, manufacturing, water, space, healthcare and agri-tech.

The fund builds on the historic Abraham Accord and aims to bolster economic ties between two of the region’s thriving economies, unlocking investments and partnership opportunities to drive socio-economic progress.

Source: https://www.thenationalnews.com/uae/uae-our-potential-investments-in-israel-like-our-investments-in-other-parts-of-the-world-are-commercially-and-strategically-driven-and-not-politically-motivated-1.1185604

Chronic Multi-tasker | Born and raised in UAE