Birmingham signs Abu Dhabi deal

5th Nov 2010

Birmingham’s prospects of attracting major investment from the Middle East are set for a major boost as the city signs a groundbreaking agreement with the Abu Dhabi municipal government.

Leader of Birmingham City Council, Mike Whitby, joined His Excellency Rashid Mubarak Al Hajeri, Chairman of Abu Dhabi’s Department of Municipal Affairs (DMA), to sign a formal ‘Memorandum of Understanding’ (MOU).

The MOU is just the latest step in an economic strategy of engagement with the vast potential of Middle Eastern and Gulf states, to showcase Birmingham as an investment friendly city to rival the capital.

Under the terms of the agreement Birmingham City Council will offer support, advice and consultancy to help the DMA set up and develop a local government structure in Abu Dhabi.

In exchange officials from Abu Dhabi will offer Birmingham direct support in facilitating meetings and introductions, and advising and advocating credentials, to some of the most important and able private and state backed investors across the UAE and the Gulf.

The MOU builds further upon a relationship between Abu Dhabi and Birmingham which dates back to Cllr Whitby’s 2009 visit to the Emirates, and has seen a series of inward investment delegations already visit the UK.

Councillor Mike Whitby, Leader of Birmingham City Council said “This partnership offers fantastic opportunities for Birmingham to gain direct access to some of the wealthiest and most ambitious investors in the world. Though this is based on mutual benefit this MOU has been signed with genuine warmth and friendship that will be the basis of its success.”

“For too long the rest of the world has only really had the capital city pushed as the major investment possibility in the UK. Today we are starting the journey that says that Birmingham offers unrivalled opportunity as a city ripe for global investment.”

Cllr Whitby continued, “We will work with those that share our vision for the city and with projects like the Big City Plan, we can show people the future potential of Birmingham.
“We have been looking to develop the many commercial and cross cultural opportunities that exist for the city of Birmingham outside of the UK, and in the Emirate of Abu Dhabi we have found a partner that parallels our thinking and our vision of excellence.
“It is also a great endorsement of our city that from the entire world they have chosen Birmingham as the model for how to develop successful local governance structures.”
The MOU will be effective for 5 years, with an option to further extend the arrangement into the future.

The MOU also builds on the launch earlier this month of Business Birmingham, the city’s new inward investment strategy. The strategy aims to deliver some 7,000 jobs over the next four years by attracting investment into sectors identified as key strengths of the city including financial services, transport technologies; shared services and business process outsourcing and emerging opportunities such as digital media, low carbon R&D and medical technologies.
H.E. Rashid Mubarak Hajeri, said:” “We’re keen to show the world how we’re transforming Abu Dhabi and working to make our 2030 vision a reality. By partnering with Birmingham City Council, we can learn from their experiences to inform and drive our ambitious plans and achieve recognition for our accomplishments so far.”

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