From the moment
Israel and the UAE announced that they will be normalising relations with each
other, people were quick to jump to conclusion and blame UAE that they are
doing it for their personal benefits. One such instance was when UAE planned to
invest in Israel’s projects.
People started
pointing out that it was in fact, a politically motivated move. But clarifying
all those allegations, Dr Sultan Al Jaber, the Minister of Industry and
Advanced Technology, announced that the investments prospects worth $10 billion
in Israel are commercially driven and have no political motives behind them.
He stressed that
the announcement of the investment program is in line with all the other UAE
initiatives that are aimed at looking for opportunities all around the world.
On Tuesday, the minister refuted all the claims of the investment program being
politically motivated. “We are at a very early
stage in studying the laws and policies in Israel,”he said.
He
added that the UAE is also establishing certain rules which will ensure
bilateral agreements and noted that they need to be in place to support and
protect our investments. “The
UAE has a long history and rich track record in making the right investments in
the right locations, based on the commercial assessment of that market,” he noted.
The allegations started after the UAE
announced last week that it will study the climate of Israel and are looking
for opportunities to invest $10 billion which will be diverted into different
sectors like energy, manufacturing, water, space, health care and
agriculturally influenced technology.
He also highlighted that it is very soon
to judge what is going around while also indicating that there is no hurry as
there are a number of matters that need to be taken care of ahead of the final
call on investment.
Sr
Al Jaber said that UAE is looking at interesting and attracting investment
opportunities all around the world and is waiting for the right locations. He
stressed that there are numerous opportunities in different markets and the UAE
is continuing to evaluate them on the basis of ‘strategic merits’ as well as
their commercial value.
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