Facilitation of UAE sovereign investment in Indian sectors explored

06 Oct '21

2 min read

Pic: Shutterstock

India and the United Arab Emirates (UAE) last week explored mutually beneficial methods and incentives to facilitate investments from UAE’s sovereign investment entities in key priority sectors in New Delhi during a meeting between Sheikh Hamed bin Zayed Al Nahyan, member of the executive council of the Abu Dhabi emirate, and commerce and industry minister Piyush Goyal.

Both co-chaired the ninth meeting of the UAE-India High Level Joint Task Force on Investments.

Both sides also noted the importance of concluding the negotiation process of amending long-standing bilateral investment treaty as soon as possible.

"At the meeting, discussions were also held on exploring mutually beneficial methods and incentives to facilitate further investment from UAE sovereign investment entities in key priority sectors in India...both sides agreed to continue to focus on ways of providing tax incentives to certain UAE sovereign investment entities," an official statement said.

Given the importance of air transport in facilitating bilateral ties and people-to-people connections, both countries agreed that their respective civil aviation authorities should continue to work together on a priority basis, for their mutual benefit, to ensure the speedy normalisation of air transport operations.

The statement also said the progress of ongoing discussions for the India-UAE Comprehensive Economic Partnership Agreement was reviewed.

The Joint Task Force was established in 2013 as a key forum for promoting economic ties between the UAE and India.

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