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Committed to building a strong network of international partnerships and protecting UAE investments in various countries around the world, the Ministry of Finance (MoF), on behalf of the UAE, recently signed a final agreement to protect and encourage investments with the Netherlands. The signing took place at the Ministry’s Headquarters in Abu Dhabi.
The agreement was signed by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, on behalf of MoF, Dutch Minister of Economic Affairs, Henk Kamp, on behalf of the Netherlands; in the presence of HE Younis Haji Al Khouri, Undersecretary of MoF; HE Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector at MoF and Yousuf bin Hajar, Deputy Director of Regional and International Financial Relations Department.
Commenting on the signing of the agreement, HE Obaid Humaid Al Tayer said: “The UAE consistently strives to expand its trade and investment network throughout various countries around the world, which reflects the Federal Government’s belief in supporting and protecting UAE investments around the world. The signing of this agreement with the Netherlands is a prime example of this, and will provide positive, solid opportunities for UAE investors.”
HE added: “Finalising the agreement is vital for UAE investors in terms of expanding their projects in the Netherlands, as it will safeguard against non-commercial and political risks limiting their expansion. This will have a positive impact in terms of stimulating the movement of trade and investments between the UAE and the Netherlands.”
The signing of the agreement will create a suitable investment environment for both countries and protect them from any non- commercial and political risks such as direct or indirect nationalisation confiscation and seizure, providing financial compensation in case investments are ever destroyed due to uprisings, conflicts or any action taken by the security force to damage or destroy them.
Furthermore, it is important for both countries to respect their obligations towards investors and the free convertibility of dividends and return on investments, which are only possible with free and immediate currency exchange, including the revenues and profits on national airlines.
MoF has signed 45 agreements to protect and promote investments with the UAE’s most important trading partners in an effort to strengthen the country’s regional and global standing by creating an attractive investment environment for both the private and public sector. It has also developed the UAE’s air transport sector in addition to increasing volumes of trade exchange and tourism in order to achieve economic and social development.
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