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UAE hails Armenia as attractive investment country

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The United Arab Emirates is interested in making investments in Armenia’s different sectors, Ambassador Jassim Mohamed Al Qasemi told reporters on June 21 in the UAE embassy in Yerevan.

According to the Ambassador, the investment field is rather attractive in Armenia, stability exists, as well as economic development is seen, and there are good opportunities to make investments, which the embassy supports in all ways.

“Trade turnover between the two countries has grown. In 2016 it was 119,3 million [dollars], and in 2017 in already reached 149,3 million [dollars],” the Ambassador said. 

The Ambassador said that the economic field has its unique role between the two countries.

“Investments in Armenia are mostly in the energy field, they can be either direct or through cooperation with Armenians. We also have investments in the tourism sector, trade sector, a bright example of which is Carrefour in Armenia and soon new sectors will also open for investments,” the Ambassador said, adding that Armenians are also centralized in several sectors in the UAE, since the UAE is also a good country for investments, like Armenia.

The UAE Ambassador labeled the relations between Armenia and the UAE as “excellent and developed”.

Speaking about political relations between the two countries, the Ambassador said that these relations are developing continuously.

“Mutual visits are taking place between officials of the two countries. We are very interested in the Francophonie summit, which will take place in Yerevan this October. We have chosen this very summit, which will take place in this country, to declare that the UAE wants to become a permanent member of La Francophonie,” he said.

“Important sectors of cooperation are the cultural and economic sectors. We, certainly, are interested in the investment opportunities of both countries, tourism, and energy sectors are also very important,” the Ambassador said when asked by ARMENPRESS in which specific sectors the countries will actively further cooperate.


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