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The South Korean government will put into March a platform for investment cooperation together with the private sector to implement the promise of the United Arab Emirates (UAE) to invest 30,000 million dollars.
South Korean President Yoon Suk Yeol held a meeting on commitment follow-up measures at the Korea International Trade Association.
In his introductory speech to the meeting, he said, “Our sister country, the UAE, decided to invest $30 billion based on their trust in us,” adding, “We must also respond by finding innovative investment partnership projects that serve the interests of both countries.
The government decided to make full use of the government’s capacity to quickly implement follow-up measures so that the UAE’s pledges can be translated into tangible results in exports and investment.
The platform comprises a UAE Investment Cooperation Committee chaired by Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho and a UAE Investment Cooperation Network, as well as the creation of a permanent cooperation channel with the arab nation.
Led by the private sector, the network has at its core the government-run Korea Development Bank, with the aim of providing tailored support tailored to the investment needs of the UAE, in conjunction with the financial and industrial sectors. related.
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In order to smoothly promote bilateral investment cooperation, a regular dialogue channel will be opened with high- and low-level Emirati officials.
Seoul will hold an investment committee meeting this month. The private sector will also convene the network this month to begin detailed discussions on overall management plans and strategies for bilateral investment cooperation.
A high-level bilateral dialogue on investment cooperation is planned for the first half of the year, while an investor relations session for UAE sovereign wealth funds in Abu Dhabi is being considered in the second half.
