The UAE Ambassador to Spain highlights innovation and technology as the most important sources of investment

Majid Al Suwaidi: "Diversification is the key that should drive the UAE's leadership"

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The United Arab Emirates wants to continue on its path towards a leadership that is not only regional. Its efforts to diversify the economy and promote the arrival of new companies in the country are tireless and are taking the Emirati financial sector to the next level. Dubai has become one of the world's most important innovation hubs and thousands of companies are looking to the Emirates to establish their headquarters in the Arab country. The facilities offered to corporations are a differentiating element that sets the UAE apart from other powers in the region. embajador-eau-espa√Īa

In the UAE they are very clear that "diversification is the key that should drive our leadership", as the Ambassador of the United Arab Emirates in Spain, Majid Al Suwaidi, stated. The event organised by the Madrid Chamber of Commerce brought together some of the most important figures in Emirati politics. In addition to the ambassador, the UAE Minister of Advanced Technology, Sarah Al Amiri, was present at a meeting hosted by Elsa Salvadores Janssen, Deputy Director General of the Madrid Chamber of Commerce, and √Āngel Asensio Laguna, President of the Madrid Chamber of Commerce, Industry and Services.

The fundamental objective in the UAE is to establish itself as one of the most prosperous economies for the next 50 years. Al Suwaidi highlighted his country's current momentum and believes it is one of the best times to investigate investment options in the UAE. He did not venture to say that it is the best of all because their "economic relations are stable and productive, but they can and will be even better," said the UAE ambassador to Spain, who spoke of Dubai as one of the key communication centres for corporations, as later confirmed by Juan Miguel Velasco, CEO of Aiuken Cybersecurity, a Spanish company based in the Emirati city. 

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The CEO of this cybersecurity company said that "Dubai offered us an incredible hub that allowed us to be working in less than two weeks". The ease of doing business and establishing business headquarters in the United Arab Emirates is far superior to what its neighbouring countries can offer. He emphasised how favourable it is for corporations like his at the bureaucratic level: "The Emirates is a country like Spain in terms of legislation. It has legal and economic guarantees that other countries in the region do not have", said Juan Miguel Velasco.

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The Spanish businessman also referred to the EXPO Dubai 2020, which is proving to be a great success in terms of attendance and is expected to increase with the improvement of the weather in the country. Minister of Technology Al Amiri expressed a view in line with the words offered by Velasco, stating that they want to "make doing business in the UAE easy and attractive for companies". Moreover, he spoke of them as allies, not simply business targets or vehicles for financial leverage. In this respect, he was referring to Spain, seen from the UAE as one of the countries whose ties can favour a relationship of reciprocal economic growth, as has been reflected in the increase in investment between the two countries, even in times of pandemic.

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