Latest news with #MohamedHassanAlsuwaidi
Sharjah 24
7 days ago
- Business
- Sharjah 24
UAE, Turkish Presidents witness exchange of agreements and MoUs
Exchanged during His Highness the UAE President's state visit to Türkiye, the agreements aim to expand cooperation, reflecting the two countries' shared commitment to further advancing bilateral relations across various sectors. The agreements and memoranda include: Agreement on the mutual protection of classified information: MoU on the establishment of a joint consular committee MoU on investment in food and agriculture MoU on investment cooperation in the pharmaceutical industry MoU on investment in tourism and hospitality MoU on investment cooperation in the industrial sector MoU on cooperation in polar research The agreements and memoranda were exchanged during a formal ceremony held at the Presidential Palace in Ankara. From the UAE side, the agreements were exchanged by: Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology Mohamed Hassan Alsuwaidi, Minister of Investment Mohamed Mubarak Al Mazrouei, Minister of State for Defence Affairs Khalifa Shaheen Al Marar, Minister of State From the Turkish side, the agreements were exchanged by: Yaşar Güler, Minister of National Defence Nuh Yılmaz, Deputy Minister of Foreign Affairs Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Türkiye Mehmet Fatih Kacır, Minister of Industry and Technology
Zawya
24-06-2025
- Business
- Zawya
UAE, Saudi emerge as global investment giants in 2024
The UAE and Saudi Arabia emerged as global investment giants in 2024, ranking within the world's largest 20 capital importers and exporters. With foreign direct investment (FDI) inflow of around $45.5 billion last year, the UAE was the 10th largest recipient of foreign capital in 2024. In its 2025 World Investment Report released at the weekend, the UN Conference on Trade and Development (UNCTAD) said Saudi Arabia was ranked 20th, with FDI inflow of nearly $15.7 billion last year. Both Gulf oil producers also emerged as among the top 20 capital exporters, with FDI flow from the UAE standing at $23.4 billion and that from Saudi Arabia at $22 billion. The UAE, the second largest Arab economy after Saudi Arabia, was also second only to the US in the number of announced greenfield projects, with 1,369 launched in 2024. Despite a global slowdown in greenfield project growth to 0.8 per cent, the UAE posted a 2.8 per cent increase, with announced greenfield project capital reaching $14.5 billion. Key sectors driving this growth include software and IT services (11.5 per cent of total greenfield project value), business services (9.7 per cent), renewable energy (9.3 per cent), coal, oil, and gas (9 per cent), and real estate (7.8 per cent). UAE Investment Minister Mohamed Hassan Alsuwaidi has attributed the high inflows to strategic reforms and long-term policy direction. 'The UAE's investment ecosystem has become a global model, thanks to its stability, transparency, trade openness, and ease of doing business,' he said recently. UNCTAD's report showed FDI flow into the UAE and Saudi Arabia accounted for nearly 83 percent of the 2024 capital flow into the Gulf Cooperation Council (GCC), which also groups Kuwait, Qatar, Oman and Bahrain. FDI flow into the GCC totaled around $73.5 billion last year, up from $67 billion in 2023. Flow out of the six members rose to $58.5 billion from $52 billion in the same period. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Yahoo
02-06-2025
- Business
- Yahoo
Venture funding is creating a global AI divide, even as sovereign wealth funds and tech unicorns try to bridge the gap
Venture investors may claim to have 10-year time horizons, but that future tech-scape seems to always have a U.S. bias. I started my tech reporting career at a publication cheekily called Rest of World during the early days of COVID, when the free-money era let VCs plow capital into emerging regions like South and Southeast Asia, Africa, and Latin America in record sums. That trend evaporated when high inflation hit. Though global venture investing has ticked back up, it's been tilted by massive AI deals, which are almost entirely aimed at U.S. companies. According to an April report from KPMG, the U.S. accounted for nearly 75% of global venture investment in the first quarter of 2025. I spent last week in Malaysia (still recovering from that brutal 18-hour flight to Singapore), where Fortune hosted a conference alongside a trilateral summit between the Association of Southeast Asia Nations, the Gulf Cooperation Council, and China. Unsurprisingly, AI was top of mind for the assembled governmental and economic leaders. But their perspective was one we don't usually get from the U.S. Here's the simple summary: Everyone wants AI, but they don't know if they have the capital to build it on their own terms. In the U.S., we're accustomed to hearing about some new multi-billion-dollar startup funding deal seemingly every week, but this is not a reality for most of the world's countries, let alone regions. And that's not to mention the immense energy demands needed to supply the computing power for the AI revolution. One revealing panel featured Mohamed Hassan Alsuwaidi, who has a dual role as the United Arab Emirates' minister of investment and the CEO of one of the country's top sovereign wealth funds, ADQ. With billions of dollars at his disposal, he's among the more influential figures in global tech, though few readers of this newsletter have likely heard of him (partly because he gives so few interviews). With its trove of sovereign wealth funds and tech-focused leadership, the UAE is one of the best-suited 'rest of world' countries to ride the AI wave. And it has been aggressively making deals, especially under the Trump administration, including a recently announced venture with OpenAI to invest likely tens of billions of dollars into new data centers. That came right after President Donald Trump visited Abu Dhabi in May and visited a new AI campus in Abu Dhabi supplied with enough energy to power all the homes in Minnesota. But, caught in the mounting geopolitical tensions between the U.S. and China, Alsuwaidi acknowledged that the UAE will never be able to compete against the two superpowers when it comes to AI. He used a metaphor, saying that U.S. and Chinese firms like OpenAI and DeepSeek want to 'boil the ocean' when it comes to hoovering up data and energy to supply their models. In contrast, smaller countries like the UAE must learn to 'fry the fish,' or use AI more strategically for their own purposes (and, ostensibly, partner with the bigger players who can spread their fishing nets). It was a surprising admission from a government official with seemingly endless resources at his disposal. But it's a concept that's hotly debated alongside the rapid rise of AI—the question of sovereignty, or how a country can control and guide the technology's development, especially when it's being created by non-state companies, often in a different language and cultural context. 'Clearly, if you want to be involved in this AI race, you need to consume a lot of power and energy,' Alsuwaidi said. In a later panel, OpenAI's chief strategy officer Jason Kwon discussed his company's new initiative, AI for Countries, which will—with some clear self-interest for OpenAI—help governments build data centers, fund local startups, and create use cases for AI. (No surprise, OpenAI chose the UAE as its first partner for the project.) Kwon admitted that many countries won't have sufficient resources to supply enough energy to create their own AI iterations, be it bespoke LLMs or applications. 'We'll provide the engine, and they're going to be providing the steering,' Kwon said, referring to OpenAI's relationship with governments. Time will have to tell how that really works. Alsuwaidi did say that the UAE's fleet of sovereign wealth funds wants to invest in emerging regions, including Latin America, Africa, and Southeast Asia, returning to those heady days of 2021 and 2022. But he added that they often cannot find infrastructure plays that make economic sense, describing the mismatch between the risk/reward in the U.S. and Europe compared to emerging regions as 'mind-boggling.' Alsuwaidi may not be your average venture investor, but it's a challenge that every VC will face as they try to envision the new AI reality, 10 years down the line. Regions like Southeast Asia clearly have as much appetite as the U.S. or Europe. But will they get the funding to satisfy it? Leo SchwartzX: @leomschwartzEmail: Submit a deal for the Term Sheet newsletter here. Nina Ajemian curated the deals section of today's newsletter. Subscribe here. In total, Fortune 500 companies represent two-thirds of U.S. GDP with $19.9 trillion in revenues, and they employ 31 million people worldwide. Last year, they combined to earn $1.87 trillion in profits, up 10% from last year—and a record in dollar terms. View the full list, read a longer overview of how it shook out this year, and learn more about the companies via the stories below. A passion for music brought Jennifer Witz to the top spot at satellite radio staple SiriusXM. Now she's tasked with ushering it into a new era dominated by podcasts and subscription services. Read more IBM was once the face of technological innovation, but the company has struggled to keep up with the speed of Silicon Valley. Can a bold AI strategy and a fast-moving CEO change its trajectory? Read more This year, Alphabet became the first company on the Fortune 500 to surpass $100 billion in profits. Take an inside look at which industries, and companies, earned the most profits on this year's list. Read more UnitedHealth Group abruptly brought back former CEO Stephen Hemsley in mid-May amid a wave of legal investigations and intense stock losses. How can the insurer get back on its feet? Read more Keurig Dr. Pepper CEO Tim Cofer has made Dr. Pepper cool again and brought a new generation of products to the company. Now, the little-known industry veteran has his eyes set on Coke-and-Pepsi levels of profitability. Read more NRG Energy is the top-performing stock in the S&P 500 this year, gaining 68% on the back of big acquisitions and a bet on data centers. In his own words, CEO Larry Coben explains the company's success. Read more This story was originally featured on Sign in to access your portfolio
Hi Dubai
02-06-2025
- Business
- Hi Dubai
UAE Ministry of Investment Signs MoU with Malaysia's Perak Corporation to Boost Food Security and Trade
The UAE Ministry of Investment and Malaysia's Perak State Development Corporation have signed a Memorandum of Understanding to strengthen cooperation in food security and infrastructure development, marking a new chapter in bilateral trade relations. Signed by UAE Minister of Investment Mohamed Hassan Alsuwaidi and Yab Dato' Seri Haji Saarani Bin Mohamad, Chairman of Perak State Development Corporation, the agreement sets the stage for joint investment initiatives focused on sustainable food systems and logistics. A key component of the partnership includes developing the Bagan Datuk International Sea-Hub Multipurpose Terminal in Perak. The strategic project is expected to enhance global supply chain connectivity and support Malaysia's role as a regional hub for food exports. The MoU builds on the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Malaysia in January 2025, reinforcing both nations' commitment to long-term economic collaboration. Alsuwaidi stated that the partnership aims to create 'meaningful international collaborations that deliver tangible value' and support 'regional supply chain resilience.' Saarani noted that the terminal will serve as a 'critical gateway' for Malaysia's food exports while supporting broader infrastructure and agricultural growth. The UAE and Malaysia continue to deepen economic ties, with non-oil bilateral trade reaching $4.9 billion in 2023 and $4 billion in the first nine months of 2024. The UAE is Malaysia's second-largest trading partner in the Middle East, while Malaysia ranks as the UAE's 12th largest Asian trading partner. News Source: Emirates News Agency
Gulf Today
31-05-2025
- Business
- Gulf Today
Sharjah to host 29th edition of World Investment Conference
In a significant step that underscores the UAE's prominence on the global investment map, the Sharjah FDI Office (Invest in Sharjah), in collaboration with the World Association of Investment Promotion Agencies (WAIPA) and the UAE Ministry of Investment, has announced the 29th edition of the World Investment Conference (WIC). Marking its debut in Sharjah, the event will be conducted under a shared agenda with the Sharjah Investment Forum (SIF), which will take place from October 22 to 24 at Expo Centre Sharjah. This international collaboration was officially formalised through a 'Host Agreement' in the presence of Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq), Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Dr James Zhan, Chairman of the Executive Board of the World Investment Conference (WIC). Signatories to the agreement included Mohammad AbdulRahman Alhawi, Undersecretary of the UAE Ministry of Investment; Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah; and Ismail Ersahin, Executive Director and CEO of WAIPA. Commenting on the strategic significance of the event, Sheikha Bodour Al Qasimi said: 'Hosting the 29th edition of WIC in Sharjah reflects international confidence in the emirate's status as a leading destination for responsible and sustainable investment and underscores its readiness to convene global discussions focused on directing capital towards tangible development goals.' 'In Sharjah, we believe that the future of investment depends on striking a balance between economic growth and social development. For this reason, we are committed to ensuring that the international platforms we host provide opportunities to build partnerships that facilitate knowledge exchange, promote innovation, and deliver meaningful impact for both communities and markets,' she added. The decision to host the 29th edition of the WIC in Sharjah holds particular importance as it coincides with the 30th anniversary of WAIPA. This milestone adds a commemorative element to the event, recognising three decades of advancing global investment and underscoring the critical role of investment promotion agencies in shaping both regional and international economic landscapes. Mohamed Hassan Alsuwaidi, UAE Minister of Investment, said: 'The World Investment Conference taking place in Sharjah reflects the UAE's enduring commitment to shaping the global investment agenda. As WAIPA marks its 30th anniversary, this collaboration highlights our shared ambition to deepen cross-border partnerships and drive inclusive, sustainable economic growth.' Commenting on the collaboration, Mohamed Juma Al Musharrkh highlighted that hosting global investment institutions in Sharjah will unlock a wide range of opportunities for local and regional business communities, facilitating greater access to expansive networks of cross-border partnerships. He stressed that the collaboration underscores Invest in Sharjah's ongoing commitment to equipping investors with the tools necessary for sustainable growth, while fostering a flexible and scalable development environment that adapts to evolving market dynamics and responds to both current opportunities and future challenges. In this context, Ismail Ersahin, Executive Director and CEO of WAIPA said 'Investment promotion agencies are the architects of global economic connectivity - they bridge nations, ideas and capital to generate lasting impact. As WAIPA marks its 30th anniversary, we are proud to bring the World Investment Conference to Sharjah.'' 'This conference is not just a celebration of WAIPA's legacy, but a platform for meaningful collaboration between the public and private sectors, where investors are matched with opportunities. Sharjah's hosting of WIC 2025 reflects its growing leadership in global investment discourse and its commitment to shaping the next era of responsible, resilient investment.' he added. Dr James Zhan, Chairman of the Executive Board of the World Investment Conference, emphasised that the Conference is set to take place at the right time, in the right location, and with the right partners. He highlighted Sharjah as a unique and strategic destination for foreign direct investment. As a regional leader in attracting FDI, the UAE continues to strengthen its position among the world's top 15 investment destinations. The World Investment Conference arrives at a pivotal moment. In the face of global economic uncertainty and market volatility, the Conference aims to address pressing challenges while exploring new opportunities. It will serve as a vital global forum-bringing together the international investment community to shape a forward-looking strategy. It will chart a new path for promoting sustainable investment and shared prosperity in the new era of global economy. Since 2015, Invest in Sharjah has organised the Sharjah Investment Forum, establishing it as a leading regional platform for tracking global investment trends, identifying opportunities within the sustainable economy, and aligning with the direction of international capital and markets. Over the years, the forum has attracted prominent decision-makers, experts, and global investors, facilitating strategic discussions that support the development priorities of Sharjah, the UAE, and the wider region. Its integration of WIC reflects a strategic approach to enhancing its impact, widening the scope of discussions, and fostering meaningful partnerships across sectors and borders. WAM
