Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE invites Romanians to invest in key sectors  Join our daily free Newsletter

MENAFN - Khaleej Times - 10/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Deal signed to establish a framework for mutual assistance

sultan bin saeed al mansouri exchanging documents after signing the agreement. — supplied photo

minister of economy sultan bin saeed al mansouri said the uae companies have registered exceptionally successful performance in drawing international investments and proven their global competitiveness.

“our home grown entities have earned reputation through decades of hard work and excellence. today organisations from the uae are welcomed and sought after worldwide” al mansouri said after a high-level meeting with romanian officials led by prime minister victor ponta in bucharest.

the exchange was held on the side lines of the joint economic committee meeting held in the romanian capital. the uae delegation included high level officials and members of the country’s business community.

“the uae is proud of the developmental role that our companies are playing in different countries around the world. the operations of the uae’s companies abroad are marked by a high degree of corporate social responsibility. the enterprises are seen as real partners in developmental efforts and not just as profit seekers” al mansouri said.

the minister offered detailed insights into the investment landscape of the uae. he highlighted the facilities offered to investors the legislative framework and the ultra-modern infrastructure and logistical capabilities that position the country as a preferred international business hub. he also highlighted the availability of free zones mega ports and airports and the development of infrastructurally-enabled industrial cities that support the significant investment opportunities in the uae.

during the meeting the two sides emphasised the importance of laying out a clear framework for future cooperation. the proposed framework will identify specific sectors timelines and follow-up mechanisms to monitor development and tackle any obstacles. the delegations agreed that a joint team would be set up for the implementation of decisions made by the joint economic committee.

for his part the romanian prime minister expressed his country’s interest in developing cooperation across all sectors focusing on agriculture industry tourism and energy. romania’s state minister for energy meanwhile outlined the country’s significant economic potential in wind energy hydropower and solar power and confirmed interest in attracting investments from the uae in the renewable energy sector.

the delegates also discussed ongoing privatisation plans that are underway and called on businesses in the uae to benefit from the investment opportunities available in romania.

financial agreement

a memorandum of understanding (mou) was signed between the securities and commodities authority (sca) of the uae and the financial supervisory authority (fsa) of romania at the conclusion of the joint economic committee meeting.

the mou seeks to establish a framework for mutual assistance and facilitate the exchange of information between the two authorities. the enhanced cooperation is in turn anticipated to ensure mutual compliance with regulations in the securities and futures domain of the two countries. additionally the agreement aims to augment investor confidence and promote the integrity of the securities markets through establishing a charter for co-operation exchange of information and investigative assistance that conforms to existing laws and practices.

the pact also specifies the mutual scope of work that focuses on the prevention of illegitimate financial market activities including insider dealing market manipulation and other fraudulent practices prevalent among companies securities futures contracts options and collective investment schemes.

— business?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Aug 27 2015 - Peninsula Energy in share consolidation ahead of NYSE MKT listingProactiveInvestors - Australia
(MENAFN - ProactiveInvestors)Pending U.S. uranium producer Peninsula Energy (ASX:PEN) will conduct a 40 for 1 share consolidation of its listed ordinary shares and options ahead of a listing on the ...

 Aug 27 2015 - Dubai's Al Habtoor seeks to borrow USD408mMENAFN
(MENAFN) Dubai's Al Habtoor Group is seeking to finance its property investments, and is intending to borrow USD408 million from local banks to achieve that.First Gulf Bank has stepped in to see the ...

 Aug 27 2015 - Saudi Red Sea mall unveils USD46.5m expansionMENAFN
(MENAFN) The Red Sea Mall, Jeddah's biggest shopping center, has just declared the beginning of its largest expansion project, estimated at USD46.5 million.This main stream project is considered the ...

 Aug 27 2015 - EGOTH prioritises investing in company's assets in FY 2015/2015: ChairmanDaily News Egypt
(MENAFN - Daily News Egypt) The profits of the Egyptian General Company for Tourism and Hotels (EGOTH) amounted to EGP 156m during fiscal year (FY) 2014/2015, according to the company's Chairman and ...

 Aug 27 2015 - Egypt- EGX rises minimally, remains affected by global performanceDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Stock Exchange (EGX) recovery continued for a second trading day on Wednesday, after witnessing a continuous dropping pattern. The benchmark index EGX-30 ...

 Aug 27 2015 - Mahmoud Hussein: Youth without youth in Egypt's cellsDaily News Egypt
(MENAFN - Daily News Egypt) Mahmoud Mohamed Hussein was 18 years old when he was arrested. . Today he has grown a little older, and wonders at what age he will possibly be released from prison. Like ...

 Aug 27 2015 - Egypt- Rice exports haltedDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour has issued a decision to stop exporting rice beginning in September.Abdel Nour explained in a statement ...

 Aug 27 2015 - Egypt- Boycott campaign seeks to lower skyrocketing meat pricesDaily News Egypt
(MENAFN - Daily News Egypt) campaign was launched on social media platforms in Egypt calling on citizens to boycott buying meat, in protest of the increasing prices of meat.The campaign said, on its ...

 Aug 27 2015 - UAE- DP World 1H profits increase 22%Daily News Egypt
(MENAFN - Daily News Egypt) Global marine terminal operator DP World announced that its profits for the first half of 2015 have increased by 22%, as the company handled more cargo in addition to ...

 Aug 27 2015 - Egypt- Controversial TV host Ahmed Moussa awaits court order on programmeDaily News Egypt
(MENAFN - Daily News Egypt) Controversial TV host Ahmed Moussa is facing a court decision regarding the halting of his daily programme, according to a decision issued Wednesday by the advisory board ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help