Abu Dhabi – Mubasher: The Saudi Arabian General Investment Authority (SAGIA) and Abu Dhabi Global Market (ADGM), the emirate’s international financial centre, have signed a memorandum of understanding (MoU) to promote investment, industry and trade cooperation between the two GCC neighbouring countries.
The partnership was signed on the sideline of Abu Dhabi Sustainability Finance Forum, an event hosted by ADGM during the 2019 Abu Dhabi Sustainability Week, according to an official statement.
Ibrahim Al Omar, the governor of SAGIA, Minister of State Ahmed Ali Al Sayegh, and chairman of Abu Dhabi Global Market inked the deal.
“The agreement reinforces ADGM’s commitment to the UAE’s long-term sustainable growth and playing a part in supporting the well-being and development of the region,” Al Sayegh commented.
The MoU aims to facilitate cooperation between the two countries in abid to boost investment activities and further promote their business relations, the statement said.
Under the agreement, both parties will support economic and commercial information exchange through trade and investment seminars, step up investment activities by hosting roadshows, forums and workshops to attract potential investors, along with bolstering key industry sectors through joint initiatives.
“Saudi Arabia is at the heart of the Arab world and sits at the crossroads of three continents. As such, we believe that regional cooperation within the Middle East and North African region is essential to our economic development,” Al Omar said.
