Big companies from the United Arab Emirates want to come and invest in Romania, according to Ahmed Abdullah Bin Saeed Al Matrooshi, the UAE ambassador in Bucharest.
In an interview granted to Financial Intelligence, the Arab investments would eye such Romanian sectors as agriculture, constructions, infrastructure and services.
A first step has already been taken, as Al Dahra group from the Emirates had bought the controlling stake of Romanian Agricost, the largest cereal farm in Romania that manages Insula Mare a Brailei, meaning almost 56,000 ha of land. The value of the transaction mounted to roughly USD 200 million.
“We want to make the largest agricultural area in Europe there”, said the UAE ambassador, adding that the project of Insula Mare a Brailei is a huge project, with a USD 500 million investment. “UAE plans to export cereals from Romania to Europe and other countries”, the ambassador said.
DP World, another company from the Emirates is also operating in Romania in Constanta. Ambassador Ahmed Abdullah Bin Saeed Al Matrooshi announced that the lease agreement enabling DP World to operate the container terminal in Constanta Port for the coming 30 years had been signed in February this year. “Following the investment made by DP World so far, almost USD 200 million entered the Romanian economy. Extending the agreement on long term means developing new investments worth around USD 100 million, with over USD 230 M entering the Romanian economy,” explained the head of the UAE diplomatic mission to Romania.
UAE investors are also interested in the real estate, constructions and green energy fields in Romania. According to the ambassador, representatives of the EMAAR company from the Emirates, the developer of the tallest building in the world, Burj Khalifa, visited Romania several weeks ago, voicing interest in real estate projects in our country, to build hotels or other venues here.
At the same time, Arab entrepreneurs eye the Romanian private medicals sector, by building private hospitals countrywide.
A company interested to invest in Romania is Mubadala, which already has 40% of OMV Austria, thus being the second largest shareholder at OMV, after the Austrian state.
Masdar from the UAE also targets investments in Romania, in the green energy sector. Abu Dhani Port and Abu Dhabi Airport want to come to Romania to improve the quality of services. “For instance, the Bucharest airport’s airstrips are not long enough. There is also talks with Etihad to cooperate with Tarom,” the ambassador added.
The commercial exchanges between Romania and UAE mounted to USD 330 million last year.