UAE–US Business Talks Spark Major New Deals and Investments

Post by : Layla Badr

Photo: Abu Dhabi Media Office 

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, and former US President Donald Trump recently took part in an important business meeting called the UAE–US Business Dialogue. This event was held at Qasr Al Watan, a grand palace in Abu Dhabi, during President Trump’s official visit to the UAE, which began on Thursday.

The purpose of the meeting was to strengthen the business and economic ties between the UAE and the United States. Leaders discussed both current and future plans to collaborate in areas that matter to both countries, like energy, technology, health, and tourism. They also talked about a huge US$1.4 trillion investment plan that was announced earlier this year in Washington, DC. This plan involves UAE companies investing in important sectors in the United States, such as energy, artificial intelligence, advanced technology, and manufacturing.

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During the meeting, several major new deals and partnerships were announced. These agreements aim to boost both countries' economies, create more job opportunities, and bring in new technologies. For example, in the energy sector, the US will invest up to US$60 billion in energy projects across the UAE. ADNOC, the UAE’s national oil company, and ExxonMobil, a big American company, will work together to increase oil production at the Upper Zakum offshore field. There will also be a separate deal with Occidental, an American energy company, to explore ways to expand production at the Shah Gas field. Additionally, a new oil and gas exploration area in Abu Dhabi was awarded to EOG Resources, another US-based company. In another agreement, Occidental’s subsidiary, 1PointFive, will collaborate with XRG to look into building a carbon-capture facility in Texas. Both the UAE and the US also agreed to start a major partnership in the energy sector.

In aviation, Etihad Airways, the UAE’s national airline, confirmed an order for 28 new planes from Boeing, including the 787 and 777X models. These aircraft will be powered by GE engines, which is part of Etihad’s plan to expand its fleet.

In the field of technology and innovation, Qualcomm, a top American tech company, will build a new engineering center in Abu Dhabi. This center will focus on developing next-generation technologies like artificial intelligence, the Internet of Things (IoT), and data centers. This collaboration will help the UAE grow its tech industry by bringing in new expertise and creating advanced products for sectors such as energy, transportation, and retail. Additionally, the UAE telecom company e& has teamed up with Qualcomm to improve 5G connectivity and artificial intelligence technologies across both the private and government sectors. e& also launched a new cloud platform in partnership with Amazon Web Services (AWS), which will help UAE companies and government bodies move their data securely to the cloud.

In manufacturing, Emirates Global Aluminium (EGA) announced plans to build the first new primary aluminium production plant in the United States since 1980. This US$4 billion investment project will help meet the growing demand for aluminium in the US. EGA also signed a deal with the Tawazun Council and RTX to explore opportunities to develop gallium production capabilities in Abu Dhabi, a rare metal used in electronics.

In healthcare, several new initiatives were announced to use advanced technologies and research to improve patient care. For example, M42, a healthcare company, will work with Oracle Health to improve healthcare data systems and genomics using the latest technologies. Also, G42, Oracle Health, and the Cleveland Clinic are launching a new AI-powered global health platform that aims to improve healthcare delivery around the world.

Finally, in the sectors of sports, entertainment, and tourism, the UAE and the US discussed several exciting projects. Abu Dhabi will continue to host major events like UFC championships and NBA preseason games. There is also a plan to open a Disney Theme Park Resort in the city. Additionally, the Guggenheim Abu Dhabi museum project is progressing well and will soon open in the UAE capital.

This event marked an important step in deepening the relationship between the UAE and the United States, with both countries focusing on boosting jobs, technology, and overall economic growth.