Investment// The group, founded by experienced investors, has formed an investment fund to shore up partnerships and trading opportunities between the two nations.
As the talks to normalize relations between Israel and the United Arab Emirates (UAE) gather momentum, a group of private sector players from Israel is also expected in the country in search of mutually beneficial investment and trading opportunities.
Coming against the backdrop of the historic talks, a group of Israel investors under the auspices of the United Emirates-Israel Investment Group, have shown keen interest in developing partnerships in various sectors of the regional economy. According to the spokespeople of the Emirates-Israel Investment Group, the exports to the UAE could jump to an annual $300-$500 million. Israel known as a ‘start-up nation’ is expected to bring innovative solutions in the Energy, Cybersecurity and communications industries.
The group has identified Dubai as the gateway to the region’s vibrant market and their first visit to the UAE is seen as a launchpad for doing business in the wider GCC region.
“We are proud of the successful normalization talks between Israel and the UAE – two great nations that can achieve more in terms of economic growth following a strong annual bilateral trade. As private sector players from Israel, we are also looking for investment opportunities in key areas such as cyber technology, biotech, green energy and food technology that can further strengthen this relationship,” said Adv. Ofir Bar-Noy, United Emirates-Israel owner of Bar-Noy and Co. Lawyer office and the Co-Founder of the Group.
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According to Ofir, the group’s primary objective is to collaborate with UAE investors and to nurture trade opportunities as well as to establish solid foundations for long term business relationships.
The group also plans to tap into UAE’s unique position as a regional business hub for world-class products and cutting-edge technology to grow a market for Israel products and services.
Apart from their unmatched expertise in areas such as communication and cybersecurity, real estate and law, international business as well as taxation, the group also has vast experience in agriculture, food, artificial intelligence and automotive sectors.
With the annual bilateral trade largely expected to start at US$2 billion and even hit up to US$6.5 billion upon the cooperation’s maturity, according to Israel’s finance ministry, the group is now laying the groundwork for would-be Israel and UAE investors to take advantage of the normalization treaty to develop new markets in the region.