Turkey firms urged to invest in UAE - Emirates24|7

Turkey firms urged to invest in UAE

Salah Salem bin Omeir Al Shamsi.

The chairman of Abu Dhabi Chamber of Commerce and Industry has called on Turkish companies to invest and establish industrial projects in the emirate.

Salah Salem bin Omeir Al Shamsi was speaking at a symposium in Istanbul on promoting investment in Abu Dhabi.

He said the emirate offers tempting investment opportunities to Turkish businessmen and industrialists to set up industrial projects and to benefit from the massive economic upswing and expansion witnessed by the UAE in general and Abu Dhabi in particular.

Al Shamsi said Abu Dhabi is on the path of swift development and its strategic position and bold, active and open economic policy has contributed to turning the UAE into a distinguished centre for attracting investment in the region.

He said Abu Dhabi has launched a comprehensive development programme in which billions of dollars are being invested within what has become known as "Abu Dhabi future vision".

It is an unprecedented project shared by the Government of Abu Dhabi and the private sector to put in place a modern infrastructure that would make Abu Dhabi a world capital, Al Shamsi added.

He said billions of dollars will be invested in tourism facilities such as hotels and resorts within the urban planning of Abu Dhabi over the next two decades.

Al Shamsi said the economic revival seen by Abu Dhabi offers huge opportunities, and Turkish companies should seize them through setting up projects in the emirate.

He said Abu Dhabi real estate market is growing in an unprecedented manner and is expected to grow at record levels over the coming years to meet development needs. The emirate has become a destination that is attracting investment by businessmen and industrialists from all over the world.

Al Shamsi also said Abu Dhabi Government is making big efforts to develop one of the best tourism markets of the region thanks to the natural islands located in the emirate.

A number of huge projects have been launched to set up quality resorts and hotels, he added.

Al Shamsi said investments by UAE companies and investors in Turkey are constantly rising, expressing the desire by several Abu Dhabi firms to invest in agriculture and food and crop production in Turkey.

Also speaking at the symposium was Turkish Foreign Trade Minister Kursad Tuzmen who said his country's companies are interested in investing in Abu Dhabi and to benefit from the opportunities, privileges and facilities especially in the booming industrial sector.

He said Turkish companies have excellent experience and reputation in making heavy machinery, textiles, cars, tractors as well as all kinds of construction and building materials.

The minister said Turkish companies are executing building projects worth $20 billion (Dh73.46bn) in the Gulf Co-operation Council countries, including $7bn in the UAE alone. (Wam)