Abu Dhabi enters into economic MoU with Saxony

27/05/2010 -
Dubai property investment opportunity - The First Group
Abu Dhabi enters into economic MoU with Saxony

Posted by Bob Brunskill

The Abu Dhabi government and the German state of Saxony have entered into a Memorandum of Understanding (MOU) aimed at establishing new economic opportunities and cooperation between the two sides, it has been reported.

According to WAM News Agency, the agreement places particular importance on the areas of science and technology – and specifically microelectronics.

The Advanced Technology Investment Company (ATIC), a specialist investment company created by the government of Abu Dhabi, was present at the signing in the form of chief executive officer Ibrahim Ajami.

Last year, Abu Dhabi sent 20 students to work in the Global Foundries semiconductor manufacturing plant in Dresden - a facility in which ATIC has invested over $1 billion.

Plans are also in place for 60 students from the emirate to travel to Dresden next month for a seven-week internship at the plant, WAM News Agency said.

Commenting on the MoU, Khaldoon Khalifa Al Mubarak, chairman of Abu Dhabi's executive affairs authority, said: "Encouraging the exchange of knowledge in the fields of science and technology can only add to the development of expertise required for the future development of the advanced technology sector in Abu Dhabi."

Meanwhile, it was revealed this week that Abu Dhabi International Airport maintained double-digit growth in passenger traffic during April.

Dubai property investment opportunity - The First Group