HE Al Zeyoudi Addresses US GreenTech Delegation in Dubai, Invites Private-Sector to Invest in Clean Energy Transition

• Three-day US GreenTech Mission welcomed more than 75 business leaders from US multinational companies, SMEs and startups across various sectors.
• HE Al Zeyoudi: “As we build towards COP28, we not only want to lead the conversations on the green economy, but also foster the solutions, the technologies and the tools to build one.”

His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, addressed a US-led GreenTech delegation to the UAE, outlining the growth opportunities offered to companies developing low-carbon and alternative energy solutions in the UAE’s supportive ecosystem. He also emphasized the need for public-private collaboration in driving the transition towards a green economy.

The three-day US GreenTech Mission, organized by the US Chamber of Commerce in partnership with the UAE Embassy in Washington, welcomed more than 75 business leaders from US multinational companies, SMEs and startups across various sectors, including finance, energy, renewables, transportation and logistics. Against the backdrop of the UAE’s COP28 preparations, the US delegation focused on green investment prospects across the nation.

During his address, HE Al Zeyoudi reaffirmed the UAE’s commitment to leading a global energy transition, highlighting UAE’s US$50 billion in investments in clean and renewable energy projects in 70 nations across six continents. He emphasized the joint UAE-US “Partnership for Accelerating Clean Energy”, which was signed in November 2022 and commits US$100 billion to deploy 100 gigawatts of clean energy by 2035.

HE Al Zeyoudi also underscored the UAE’s NextGenFDI program, which has been specifically designed to foster the development of new industries and capabilities that address today’s most pressing challenges. “The innovation and ingenuity of the private sector is crucial to realizing a cleaner, more sustainable future, and we continue to offer a supportive home for pioneering companies seeking to drive this change. Programs such as NextGenFDI can help globally minded, future-focused enterprises and investors access the advantages of our enabling ecosystem, and we have already welcomed specialists in fields such as hybrid aviation and precision fermentation. As we build towards COP28, we not only want to lead the conversations on the green economy, but also foster the solutions, the technologies and the tools to build one.”

Today, the UAE is home to 1,500 US firms, and is the largest trading partner in the Middle East for the US with non-oil trade between the two countries reaching US$33 billion in 2022.