A delegation of senior officials and business leaders from the UAE, headed by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has visited the US state of Texas, the single-largest state exporter to the UAE, to identify new bilateral investment and collaboration opportunities for private-sector companies, especially in tech start-ups.
HE Al Zeyoudi held a meeting with Austin Mayor, Kirk Watson where he promoted the UAE’s streamlined business registration process, skilled workforce and world-class infrastructure. He invited further inbound investment and trade from the state. In addition, His Excellency attended an Austin Chamber of Commerce Roundtable. There, his delegation was joined by state officials to explore new avenues to boost bilateral trade in IT, automotive parts and machinery verticals.
HE Al Zeyoudi also held a number of one-on-one meetings with leading Austin-based start-ups, which are deploying technologies such as AI, blockchain and quantum computing to advance real estate, emergency response, logistics, utilities, and media sectors. HE Al Zeyoudi emphasized the UAE’s unique innovation ecosystem, and highlighted market-access incentives the NextGenFDI initiative offers such as rapid incorporation and licensing, bulk visa issuance and ready access to banking facilities and real estate.
Energy sector UAE’s priority
The Texas tour concluded with a site visit to Stealth Power, a provider of fleet electrification and off-grid solutions that lower carbon emissions across utility, emergency, and military fleet vehicles. Commenting on the visit, HE Al Zeyoudi said that the UAE is prioritizing investment in sectors such as renewable energy and clean tech as they represent not only high-growth potential but provide world-changing solutions to the critical issue of climate change.
US-UAE development partners
“The United States is a long-standing trade and investment partner for the UAE. The US is also an important ally in the development of alternative sources of energy. In November 2022, we signed Partnership for Accelerating Clean Energy. This is mobilizing US$100 billion to develop 100 gigawatts of clean energy by 2035. We remain committed to finding new avenues of cooperation to uphold our Net Zero pledge. It is encouraging to the innovation on display in the US in a wide number of areas. It is visible in low-carbon transport and hospitality to smart cities. We are keen to pursue partnerships that will further their development,” he added.
HE Al Zeyoudi was joined in Texas by a UAE delegation comprising Mr. Mohamed Al Musharrakh, CEO at Sharjah FDI Office, Mr. Abdulla Al Yousif Al Suwaidi, Executive Director at Economic and Energy Affairs, Mr. Saud H. Al Nowais, UAE Commercial Attaché (Counselor) for the UAE Embassy, Mr. Karim Gamal, Director and Chief of Staff, Trade Office at the UAE Embassy, and Mr. Ahmad AlSawalhi, Director of Special Projects & Outreach – Trade Office at the UAE Embassy.