Investopia 2024 witnessed the signing of two memorandums of understanding (MoUs) between the UAE and the Republic of South Korea. The first MoU was signed by the Dubai Multi Commodities Center (DMCC) and the Korean Institute of Startup and Entrepreneurship Development (KISED), while the second partnership is between the Dubai Future District Fund (DFDF) and the Korea Venture Investment Corporation (KVIC).
Read more: Investopia 2024: 11 panels exploring investment opportunities in new economy
Fostering dialogue and connectivity
The MoUs underline Investopia’s role in enhancing dialogue and connectivity between national and international institutions and bodies, creating promising opportunities for business communities. It contributes to developing new partnerships that support the shift towards new economic sectors, and enhancing investment horizons in the venture capital sector, small and medium enterprises, entrepreneurship, financial technology, artificial intelligence, and the circular economy as key sectors that lead the world’s economies to sustainable growth.
The two agreements were signed in the presence of H.E. Abdulla bin Touq Al Marri, UAE minister of economy and chairman of Investopia, and H.E. Daehee Lee, deputy minister at the Korean Ministry of Small and Medium Enterprises and Startups. The first agreement was signed by Mr. Ahmed Hamza, executive director of the Free Zone, representing the Dubai Multi Commodities Center, and Mr. Ganghun. Lee, vice president of the Korea Institute for Startup and Entrepreneurship Development. Mr. Abdul Basset Qaid, head of Capital Funding at the Dubai Future District Fund, and Mr. Hyung-chul Koo, senior general manager at KVIC, signed the second MoU.
Comprehensive support for startups and entrepreneurs
The agreement between DMCC and KISED aims to provide comprehensive support to startups and entrepreneurs, and facilitate the exchange of experiences between the two parties to achieve mutual benefit and apply best market practices. It will also facilitate the entry of UAE startups to Korean markets and vice versa and enhance cooperation in new industries such as the entertainment sector, digital games, blockchain, and non-fungible token (NFT) technologies.
Meanwhile, the agreement signed between DFDF and KVIC aims to enhance cooperation between the two parties in the field of venture investments, share visions and experiences in startups, and enhance their expansion and global growth, as well as exchange invitations to participate in relevant international events.
The latest MOUs add to the already strong UAE-Korean relations, strengthening their strategic partnership in the fields of energy, investment, emerging industry and new economy sectors. Moreover, they highlight Investopia’s success in driving investment initiatives and projects at the local and global levels and encouraging investors and governments to explore various investment and economic opportunities.
Focus on the new economy sectors
Investopia 2024 brought together a wide array of investors, government representatives, entrepreneurs and experts over two days. The event took place in Abu Dhabi at the end of February. More than 2,500 participants and more than 90 speakers addressed the event.
For more news on the economy, click here.