UAE Hosts 700 Companies and 331 Czech Brands
The economic relations between the UAE and the Czech Republic have shown remarkable growth, with the UAE hosting 700 companies and 331 Czech brands. This reflects the joint activities between the two countries across various sectors. The UAE aims to expand cooperation with Czech companies to enhance its position as a key player in the global economy, under a comprehensive vision targeting growth and sustainability on multiple fronts.
Enhancing Economic Cooperation
His Excellency Abdullah Bin Touq Al Marri, Minister of Economy and Tourism, emphasized during a virtual meeting with His Excellency Karel Havlíček, First Deputy Prime Minister and Minister of Industry and Trade of the Czech Republic, that UAE-Czech relations are experiencing significant development. He highlighted the importance of continuing joint efforts to open new horizons for cooperation between the business communities of both countries.
Shared Priorities
Discussions are focused on several vital sectors, including tourism, entrepreneurship, investment, agricultural technology, and food security. The importance of identifying new joint initiatives to be implemented by 2026 was emphasized, contributing to enhanced cooperation and the development of bilateral relations.
UAE Markets and Attracting Czech Investments
His Excellency Abdullah Bin Touq noted that the UAE markets currently host 700 companies and 331 Czech brands engaged in diverse economic activities. He expressed his aspirations to expand economic partnerships in line with the UAE Vision 2031, which aims to enhance the economic development plan and promote growth and sustainability.
Competitive Business Environment
The Minister reviewed the key developments in the legislative economic framework in the country, pointing out the issuance of new laws that support the business environment, such as laws on family businesses and cooperatives. The UAE offers exceptional investment opportunities, including allowing 100% foreign ownership and providing more than 2,000 economic activities, along with tax incentives and facilities for long-term residency dedicated to investors.
This ongoing development in UAE-Czech relations underscores the importance of strong and sustainable partnerships in stimulating economic growth and enhancing cooperation between the two nations, while the UAE remains an attractive hub for investment and business.