UAE and South Korea to strengthen investment, economic partnership

Investopia 2024 witnessed the signing of two memorandums of understanding (MoUs) between the UAE and the Republic of South Korea. The first MoU was signed by the Dubai Multi Commodities Center (DMCC) and the Korean Institute of Startup and Entrepreneurship Development (KISED), while the second partnership is between the Dubai Future District Fund (DFDF) and the Korea Venture Investment Corporation (KVIC).

The MoUs underline Investopia’s role in enhancing dialogue and connectivity between national and international institutions and bodies, creating promising opportunities for business communities. It contributes to developing new partnerships that support the shift towards new economic sectors, and enhancing investment horizons in the venture capital sector, small and medium enterprises, entrepreneurship, financial technology, artificial intelligence, and the circular economy as key sectors that lead the world’s economies to sustainable growth.

The two agreements were signed in the presence of H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of Investopia, and Daehee Lee, Deputy Minister at the Korean Ministry of Small and Medium Enterprises and Startups. The first agreement was signed by Ahmed Hamza, Executive Director of the Free Zone, representing the Dubai Multi Commodities Center, and Ganghun. Lee, Vice President of the Korea Institute for Startup and Entrepreneurship Development. Abdul Basset Qaid, Head of Capital Funding at the Dubai Future District Fund, and Hyung-chul Koo, Senior General Manager at KVIC, signed the second MOU.

The agreement between DMCC and KISED is aimed at providing comprehensive support to startups and entrepreneurs and facilitating the exchange of experiences between the two parties to achieve mutual benefit and apply best market practices. It will also facilitate the entry of UAE startups to Korean markets and vice versa and enhance cooperation in new industries such as the entertainment sector, digital games, blockchain, and non-fungible token (NFT) technologies.

Meanwhile, the agreement signed between DFDF and KVIC aims to enhance cooperation between the two parties in the field of venture investments, share visions and experiences in  startups, and enhance their expansion and global growth, as well as exchange invitations to participate in relevant international events.

The latest MOUs add to the already strong UAE-Korean relations, strengthening their strategic partnership in the fields of energy, investment, emerging industry and new economy sectors. Moreover, they highlight Investopia’s success in driving investment initiatives and projects at the local and global levels and encouraging investors and governments to explore various investment and economic opportunities.

Investopia 2024 brought together a wide array of investors, government representatives, entrepreneurs and experts over the two days of the event that took place in Abu Dhabi at the end of last February. It served as an ideal platform for establishing partnerships and creating investment and cooperation opportunities within the sectors of the new economy, as it witnessed the attendance of more than 2,500 participants, and more than 90 speakers who addressed the latest investment and economic trends. These included new strategies in venture capital deals, the growth potential of the green economy, new generation investment, and the digital economy, tourism, sports and technology sectors.

The third edition of Investopia (Investopia 2024) ended on a high note after laying out a new investment roadmap, particularly for those in the new economic sectors, for the business communities, decision-makers, investors and global financial institutions. The latest edition of the event discussed key themes surrounding sustainable economic development and contributed to strengthening dialogue between the government and private sectors to find solutions to the current global economic challenges. The fourth edition of Investopia will take place in 26 and 27 February 2025.

The speakers and panelists at Investopia 2024 highlighted the importance of exploiting capital flows in emerging industries in promising markets, and directing global investment flows to human capital, infrastructure sector, fintech, clean energy, circular and creative economies and health sector and AI.

The acceleration of economic diversification and the development of legislation and policies that support the flexibility and competitiveness of economies around the world also formed part of discussions.

Held over the course of two days, 28 and 29 February in Abu Dhabi, the third edition of Investopia hosted more than 40 panel discussions and roundtables bringing together leaders, ministers, decision-makers, major investors, entrepreneurs and economists to contribute to shaping the future of the global investment landscape.

More than 80 speakers addressed over 2,700 participants from different corners of the world, engaging them on investment trends, opportunities and challenges in future economy sectors.