Abu Dhabi Government delegation and Shanghai discuss investment opportunities

WAM -- The Abu Dhabi Government delegation, led by the Abu Dhabi Department of Economic Development (ADDED), and officials of the Shanghai Foreign Investment Promotion Centre discussed ways to strengthen co-operation in a number of investment projects.

The Abu Dhabi delegation was briefed on the major projects being implemented by Shanghai city and its plans to attract foreign investment.

The meeting was co-chaired by Khalifa bin Salem Al Mansouri, Acting Under-Secretary of the ADDED and Dr. Luo Zhi Song, President of Shanghai Foreign Investment Promotion Centre in the presence of a number of officials from both sides.

The strategic plans of Shanghai city are based on the fifth plan announced by the Government of China in November 2015 and aims at continuing the innovative economic reforms and attracting more foreign investments, Dr. Luo Zhi Song said.

Abu Dhabi and Shanghai share common interests and focus on Small and Medium Enterprise (SME) projects. According to the Statistics Centre-Abu Dhabi's report, in 2014 SMEs accounted for 94.8 percent, or nearly 53,333, of total firms in Abu Dhabi, Al Mansouri said.

The Abu Dhabi Economic Vision 2030 aims at building a knowledge-driven sustainable economy with a focus on attracting direct foreign investments, encouraging SME projects, while focussing on the industries that require major funding, as well as improving the performance of the labour force in the weak but productive industries, he added.

WAM/Majok