Abu Dhabi [UAE], May 18 (ANI): Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, along with US President Donald Trump, took part in the UAE-US Business Dialogue on Friday at Qasr Al Watan in Abu Dhabi, as reported by local media.
This forum highlighted current and future opportunities for collaboration between the two nations across various sectors of mutual interest. It also examined progress under the significant USD 1.4 trillion investment plan in the US, which was introduced in Washington, DC earlier this year. Emirati investment institutions are targeting strategic sectors such as energy, artificial intelligence, advanced technology, and industry, as noted in the report.
Part of President Trump’s state visit to the UAE, which began on Thursday, the dialogue aimed to strengthen economic and investment collaboration between the two countries, promoting economic advancement, job creation, and innovation in both nations.
During the dialogue, several new agreements were announced across key sectors including energy, healthcare, aviation, industry, AI, advanced technology, entertainment, sports, and tourism.
In the energy sector, strategic agreements paved the way for up to USD 60 billion in American investments for energy projects in the UAE. Notable agreements included ADNOC’s development plan with ExxonMobil aimed at boosting production capacity at the Upper Zakum offshore field, an exploration deal with Occidental to assess potential upgrades at the Shah Gas field, and a new concession awarded to EOG Resources for unconventional oil and gas exploration in Abu Dhabi. Additionally, XRG signed a framework agreement with Occidental’s subsidiary 1PointFive to explore a significant investment in a direct air capture (DAC) facility in Texas. Both parties also decided to embark on a comprehensive strategic partnership in the energy sector.
In terms of technology and innovation, the Abu Dhabi Investment Office (ADIO) announced a partnership with Qualcomm to establish a cutting-edge global engineering center in Abu Dhabi, focusing on next-generation IoT, AI, and data center solutions. This facility will act as Qualcomm’s newest global engineering hub and will enhance strategic initiatives in the emirate through collaborations with local and international companies based in Abu Dhabi. It aims to strengthen the UAE’s global engineering capabilities, offering tailored products and services in essential industries like energy, manufacturing, logistics, retail, and smart mobility.
In the manufacturing sector, Emirates Global Aluminium (EGA) revealed advancements in its plans to create the first new primary aluminium production plant in the US since 1980, with an investment of USD 4 billion. Furthermore, EGA has entered an agreement with the Tawazun Council and RTX to explore the development of gallium production facilities in Abu Dhabi.