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Volume # 09 | September, 2014

UAE Freezones Biz News Updates

 
Dubai's ICD, Korea's ExIm Bank Team Up for Investments in Asia, Mideast and Africa

Dubai's sovereign wealth fund said Tuesday it is teaming up with the Export-Import Bank of Korea to jointly pursue investment opportunities in Asia, the Middle East and Africa.

The Investment Corporation of Dubai said it signed a memorandum of understanding with Korea'sExIm Bank to "explore international investment and export finance opportunities." It said the partnership would initially focus on the health care, infrastructure and energy sectors.

Dubai and Korea are already trading partners with trade flows between the two countries exceeding $10 billion in 2014, ICD said.

"As partners, we see significant growth in emerging markets and believe that by working together under this alliance we provide a compelling proposition in identifying and making successful investments," said ICD's Chief Executive Mohammed Al Shaibani.

ICD, whose chairman is Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, is the holding company behind some of the Emirate's most prolific assets including Emirates airlines, Emaar Properties and major local banks Emirates NBD and Dubai Islamic Bank.

Aug 19, 2014
 

Courtesy NASDAQ.com

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