Thursday 5 August 2021

Dubai Science Park seals US partnership deal

DUBAI, May 6, 2019

Dubai Science Park (DSP) has signed a partnership agreement with 1792 Partners, a global advisory and venture firm focused on bridging the gap between health technology innovators in the UAE and the United States.

The MoU promotes collaboration opportunities between the DSP and North American business ventures and will also, make it easier for American companies to gain a foothold in the growing Middle East and North Africa (Mena) regions.

It was signed when Dubai Investment Development Agency (Dubai FDI) and Dubai Exports led a high-level business mission to the state of California.

Fahad Al Gergawi, the chief executive of Dubai FDI, said: "The UAE’s global missions have the potential to create new opportunities to enhance the strong commercial and investment partnerships between Dubai and the US. We look forward to opening new channels for business opportunities through these missions by presenting and highlighting Dubai’s attractive investment incentives."

Marwan Abdulaziz Janahi, the managing director of Dubai Science Park, said: "As a growing business hub, DSP offers companies access to a wide range of offerings such as an easy business set up, a collaborative environment for networking opportunities as well as access to industry information.

"This helps companies to grow from incubation through to purpose-built manufacturing or R&D facilities," stated Janahi, also the chairing member of the Pharmaceuticals and Medical Equipment Taskforce of the Dubai Industrial Strategy 2030.

Al Gergawi headed the delegation with the support of the Consulate-General of the UAE in Los Angeles, the Trade and Commercial Office of the UAE Embassy in Washington and the US-UAE Business Council.

The mission sought to promote the advantages available to companies looking to invest in and partner with Dubai in key sectors, such as technology, advanced manufacturing, aerospace, fast-moving consumer goods, life sciences and logistics.

The UAE has been the largest trade partner of the US in the region for the past 10 years, an indicator of the strong trade ties between both countries.

In 2018, total cross-border trade between the two countries exceeded $24.5 billion while US investments topped the table in Dubai, registering 37 per cent of total investments.-TradeArabia News Service


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