Dear Reader,
The Luxembourg Trade and Investment Offices around the world are here to promote trade and investment between the host country and Luxembourg. Our UAE based office supports the creation of economic opportunities for Luxembourg companies and entrepreneurs interested in the UAE Market. Moreover, our efforts are also focused on promoting Luxembourg as an ideal innovative business hub for foreign companies interested in entering the European Market through Luxembourg. This Newsletter offers the perfect example of the attractiveness of the Grand Duchy with the Taiwanese cryptocurrency CYBAVO who chose to expand its activity in Europe from Luxembourg. As a win-win situation, foreign companies find a strong and reliable framework to test their innovation whereas the country completes its tech ecosystem with innovative solutions. Indeed, digitalization and innovation are the key priorities of the economic strategy of the country and Luxembourg fully supports successful partnerships such as the collaboration between the Ministry of digitalization and the Interdisciplinary Centre for Security, Reliability and Trust – SnT to accelerate digital transformation of the country.
Since January 2022, Yuriko Backes is the first female Finance Minister in Luxembourg’s history, appointed to pursue the country’s financial center’s development. She comments the recent confirmation by the credit rating agency Moody’s of Luxembourg’s AAA rating, with a stable outlook. Among the key factors that justify maintaining the highest possible rating, Moody’s has underlined Luxembourg’s sustained growth and a robust institutional framework, as well as a forward-looking economic policy.
To come back to the UAE Market, Dubai Expo2020 is soon entering its last month and approaching the milestone of 15 million visits this month. Since its opening in October 2021, Luxembourg companies had numerous opportunities to engage with the local business community by joining the sectorial trade missions of the Luxembourg Chamber of Commerce. The latest business delegation visited the United Arab Emirates around the Gulfood fair in Dubai earlier this month, the world’s largest annual food and beverage exhibition, where Luxembourg exhibitors displayed their products on a stunning national pavilion.
If you would like to learn more about Luxembourg as an ideal business hub in Europe, do not hesitate to contact the LTIO Team in Abu Dhabi.
Loic Bertoli
Executive Director, LTIO Abu Dhabi