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ADDED participates in Indonesia Economic Forum

Monday, April 29, 2013
Abu Dhabi Department of Economic Development participated in the Indonesia Economic Forum organized by Indonesia Investment Center and the Embassy of the Republic of Indonesia today at the Ritz-Carlton Hotel in Abu Dhabi, with the participation of a number of companies and businessmen from Indonesia. The Forum aims at keeping investors and businessmen in Abu Dhabi abreast of the investment opportunities in Indonesia, and the features and performance of the Indonesian economy, as well enhancing economic and investment relations between Indonesia and Emirate of Abu Dhabi.H.E. Hamad Abdullah Al Mass, Executive Director of the International Economic Relations Sector, said that the organizing of this Forum was one of the outcomes of the visit paid by the a high-level delegation led by H.E. Nasser Ahmed Alsowaidi, the Chairman of Abu Dhabi department of Economic Development to Indonesia last year, which stressed the importance of exchanging visits of delegations between the two sides and organizing events to highlight investment incentives and opportunities enjoyed and offered by both sides.Al Mass noted that this forum provides a good opportunity to interact through the participation of senior government officials, businessmen and investors from the UAE and the Indonesian business community, and to explore investment opportunities in a number of strategic sectors that may constitute an important factor for strengthening economic relations between the two sides, notably the commercial and industrial sectors.H.E. Al Mass said that the U.A.E. and Indonesia maintain deeply rooted historical relationships and close links between the peoples of the two countries, pointing out that the presence of the Indonesian community in the State has contributed to closer bilateral relations, particularly trade.According to Hamad Al Mass the United Arab Emirates is Indonesia's largest trading partner among the countries of the GCC region,  noting that non-oil trade between the two countries grew by about 14%, reaching more than $ 1.5 billion in 2011, compared to $ 1.3 billion in 2010. In turn, non-oil trade between Indonesia and Emirate of Abu Dhabi increased by 9% to amount to more than $ 229 million in 2012, compared to $ 210 million in 2011. Al Mass said that the Forum demonstrates the determination of the Governments of Indonesia and Abu Dhabi to increase and boost trade relations between the two sides, through this forum which also, lays emphasis on tapping various sectors, such as investment in education, culture and tourism and other areas of strategic cooperation. Al Mass, the Executive Director of the International Economic Relations Sector. Said that Abu Dhabi was able to maintain remarkable development in considerably short period of time, and had taken important steps in areas of economic diversification and sustainable development which constitute the major aims of the Abu Dhabi Economic Vision 2030, which will further enhance Abu Dhabi’s stance as an international prominent commercial center. In contrast, Al Mass said that Indonesia managed to achieve success in various economic sectors and it maintains an economy most vigorous and robust in Asia with its vast natural resources and booming tourism services and trade sectors.  Al Mass commended the success of Indonesia in the field of SMEs at the national level in the country, which is consistent with the efforts of the Emirate of Abu Dhabi and its strive to enhance the contribution and success of SMEs in the emirate, hoping to establish a common system to strengthen cooperation in fields of SMEs between Abu Dhabi and Indonesia. It was noted by Al Mass that many bilateral agreements were concluded between the U.A.E. and Indonesia, most importantly the on avoidance of double taxation and the prevention of fiscal evasion, with respect to taxes on income; as these agreements provide good opportunities for investors on both sides to work together and further development of joint projects in various sectors in order to consolidate the partnership between the two countries. We are glad to see the relations between Abu Dhabi and Indonesia grow significantly, with increasing investment opportunities offered by the partnership between the two countries; and we are convinced that there are many opportunities to further strengthen the bilateral economic relations and increase mutual investment and trade between the two countries.” Al Mass said. It is worth mentioning that Abu Dhabi Government pays particular attention to the private sector as an essential partner in achieving the goals of the Economic Vision 2030. Abu Dhabi Department of Economic Development as part of its efforts to strengthen the role of the private sector in the economy had recently launched the “Abu Dhabi Business Center” as one stop shop for investment in the Emirate of Abu Dhabi, to enable investors to easily and quickly complete their business licensing process. This was meant to increase the ease of doing business, and enhance the competitiveness of the Emirate of Abu Dhabi.In its endeavor to set up an attractive environment and create more investment opportunities for local and foreign investors alike, Abu Dhabi Government  continuously undertake huge investment in infrastructure projects, as it allocated $ 90 billion for capital projects during the period (2013-2017).As many of these projects will be implemented by the private sector or through public-private partnership, Indonesian and foreign investors alike may take advantage of the great investment opportunities in Abu Dhabi.Finished
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