26 C
Dubai
Friday, March 29, 2024
spot_img

South Korea seeks ‘win-win’ opportunities under UAE mega-investment project: Finance minister

[ad_1]

By Kang Yunsheng

SEOUL, Feb. 28 (Yonhap News Agency) — South Korea’s finance minister said on Tuesday that South Korea is seeking to remove potential obstacles to the huge investment pledge made by the United Arab Emirates (UAE) last month to create “win-win” opportunities for both countries.

Finance Minister Choo Kyung-ho made the remarks during a meeting with economy-related ministers in Seoul to flesh out details of a $30 billion investment project announced by the UAE last month, according to the Economy and Finance Ministry.

this meeting is First since Januarywhen the UAE decided to invest in various areas of strategic cooperation between the two countries, including nuclear power, weapons, hydrogen and solar energy.

“In order to quickly visualize investments in the UAE, we plan to discuss issues such as opening a local office of the UAE sovereign wealth fund and raising a joint fund with the Korean Development Bank,” Choo said in a statement.

“During this process, the government will not only actively suggest prominent investment areas, but will also spare no effort to support its implementation, including bringing in partners and deregulating,” Choo added.

Meanwhile, the finance ministry said its officials planned to visit the UAE in March to discuss investment details.

It is also considering inviting Emirati officials for conferences and business meetings around May or June.

Finance Minister Choo Kyung-ho speaks at a conference in Seoul, February 28, 2023, in this photo released by the Ministry of Economy and Finance.  (Photo not for sale) (Yonhap News Agency)

Finance Minister Choo Kyung-ho speaks at a conference in Seoul, February 28, 2023, in this photo released by the Ministry of Economy and Finance. (Photo not for sale) (Yonhap News Agency)

colin@yna.co.kr
(end)

[ad_2]

Source link

Related Articles

95% Off and Dh10,000 Daily Prizes Await in UAE’s 3-Day Extravaganza Starting March 29, Thrilling Offer Bonanza

95% Discount and Dh10,000 Daily Prizes, UAE Launches 3-Day Extravaganza UAE residents are in for an exhilarating shopping spree right from the comfort of their...

UAE Contemplates Ban on Popular Preservative

UAE Considers Ban on Widely Used Preservative Dr. Amna Al Dahak, Minister of Climate Change and Environment, has signaled a significant step towards enhancing food...

UAE Expatriates Reclaiming Dubai as Home, Defying Migration Trends, Resilient Return

UAE Expatriates Reclaiming Dubai as Home, Experts Reveal The UAE is experiencing a notable shift in migration patterns, as more former residents who ventured to...

UAE Youth: Advocating for Responsible Social Media Usage Post-Florida Ban

UAE: Empowering Parents with Social Media Guidelines for Children Post-Florida Ban Amidst global concerns over the influence of social media on young minds, a recent...

E-Visas for GCC Countries – Your Comprehensive Guide

E-Visas for GCC Countries with Clarity and Ease As the implementation of the unified tourist permit among GCC countries progresses, residents of these nations can...

Latest Articles