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UAE CO, S KOREAN ORGS SIGN FDI PROMOTION DEAL.

AsiaPulse News

| June 08, 2009 | COPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ABU DHABI, June 8 Asia Pulse - Abu Dhabi Investment Company, Korea Development Bank (KDB) and the Korea Trade Promotion Agency (KOTRA) signed a cooperation deal on Friday to help increase investment flows between South Korea and the Middle East and North Africa region.

The agreement lays the groundwork for cooperation in many areas, including cross-border mergers and acquisitions, and private equity, infrastructure and portfolio equity investment.

"Investment funds in the Middle East are diversifying to include direct investments in Asia and Korea in particular," said president of KOTRA Cho Hwan Eik. "Through this MOU, we expect investment flows between Korea and Abu Dhabi to increase significantly."

South Korea is one of the most active countries in Asia in attracting foreign investment. The South Korean government hopes to boost foreign direct investment by seven per cent this year to US$12.5 billion, with special Free Economic Zones at the forefront of its strategy.

Meanwhile, the Middle East and North Africa (MENA) region is on a drive to build new infrastructure to support its fast diversifying economies, with at least US$410 billion worth of investment planned in the next decade, according to independent research commissioned by Abu Dhabi Investment Company.

"This is an important step, which should lead to some ...

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Source: HighBeam Research, UAE CO, S KOREAN ORGS SIGN FDI PROMOTION DEAL.

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