Lubna Al Qasimi chairs roundtable on investment opportunities in UAE, Russia

Moscow, March 4, 2009 (WAM) - UAE Minister of Foreign Trade HE Sheikha Lubna Bint Khalid Al Qasimi chaired yesterday a roundtable conference held between the UAE trade and economic delegation and Russian industrialists.
UAE Ambassador to UAE Omer Saif Ghobash was present.
The discussions held on the fringes of the minister's Russian tour focussed on the investment opportunities existing in both countries as well as the incentives provided by the respective governments to support investments.
They also discussed the ways to remove the impediments that retard various aspects of investment and trade.
In her presentation, Sheikha Lubna highlighted the strong factors of the UAE economy and the latest trends and developments. The policy of economic diversification has created numerous investment avenues in various sectors of industry, tourism and renewable energy, she noted.
The minister also shed light on the Masdar city project, which she said is an important initiative on the global level in the field of sustainable energy.
The Russian industrialists who attended the roundtable said that the investment opportunities existing in Russia are vivid and vast, especially in the fields of industry, agriculture, health resorts and infrastructure.
The Russian government is keen on improving the investment environment and combating of Bureaucracy and corruption, they noted.
During last year Russia attracted foreign investments to the tune of USD 60bn and more than half of the total number of cars in Russia are manufactured by foreign companies, they said.