Monaco Economic Board strengthens ties with the United Arab Emirates
The Monaco Economic Board (MEB) hosted a “Business Destination” conference dedicated to the United Arab Emirates (UAE) on Tuesday, 28 April, at the restaurant Castelroc, with the participation of H.E. Mr Fahad Saeed Al Raqbani, UAE Ambassador to France and Monaco. This event was part of a working visit that included meetings with Monegasque authorities and an exchange with startups from MonacoTech.
In his opening remarks, the Ambassador emphasised the shared values of excellence and sustainable development that unite the two nations. He recalled the strengthening of bilateral economic ties, notably demonstrated by MEB missions to Dubai in 2018, accompanied by H.S.H. Prince Albert II, and again in 2022 during the World Expo, as well as a planned visit to Abu Dhabi in 2025. Another sign of this strong relationship is the establishment of a Monaco Embassy in the United Arab Emirates, with the appointment of H.E. Mrs Evelyne Genta as non-resident Ambassador.
Mr Ahmed Al Mansoori, Head of Economic Affairs, then outlined the fundamental principles and key growth sectors of the Emirati economy. Despite the regional context, the country continues on a robust growth trajectory, with nominal GDP projected to reach 578 billion US dollars by 2026. The UAE positions itself as a major hub and ranks fourth worldwide for the quality of its infrastructure. The national strategy focuses on increasing diversification towards sectors such as artificial intelligence, healthcare, and renewable energies, with a targeted investment of 150 billion US dollars by 2030. The tax framework remains particularly attractive to investors.
The conference wrapped up with an open discussion on the current situation. The Ambassador highlighted the resilience of his country’s model: “The confidence of our residents, who remained despite the threats posed by drones and missiles, demonstrates our defensive capability.” He also pointed out the rapid reopening of 96% of Emirates’ destinations and the ongoing operation of all services and businesses.
Building on the strong connections established during previous missions, the MEB reaffirmed its commitment to supporting Monegasque companies in developing this strategic relationship. Discussions continued informally over a cocktail, allowing business leaders from the Principality to explore their projects in greater depth with Emirati representatives.
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Press contact: Benoît Ulrich / Delphine Quilichini – presse@meb.mc
Photo credits: Landry Basile / MEB
