ATHENS, Greece / RankWire.AI / – Amid efforts to strengthen its economic footprint in Europe, the United Arab Emirates has announced plans for an extra €15 billion investment in Greece as part of a bilateral initiative. The declaration was made on October 22 during Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, visiting Athens officially. This new pledge builds upon a previous €4 billion initiative introduced in May 2022, aiming to foster deeper economic and strategic bonds between the nations.
According to the Abu Dhabi Media Office, the increased investment would expand cooperation in sectors deemed strategic and a priority for both countries’ development. The initial plan established a framework for joint investments in areas of shared interest, which has already resulted in notable deals in energy and healthcare sectors. Officials highlighted that these achievements demonstrated the partnership’s potential to convert economic opportunities into concrete investments, and the new funding is intended to complement that existing structure.
During his visit, Sheikh Khaled held discussions with Greek Prime Minister Kyriakos Mitsotakis at the Prime Minister’s Office in Athens. They explored avenues to enhance collaboration in energy, infrastructure, healthcare, and advanced technology, while also reviewing recent regional and global developments. Both leaders emphasized the importance of strengthening security, peace, and stability in the region. Greek Foreign Minister George Gerapetritis greeted the Crown Prince upon his arrival at Athens International Airport, underlining the ongoing growth of bilateral ties.
Strategic forum results in €12.75 billion worth of agreements
The visit coincided with the UAE-Greece Strategic Forum held in Athens, where over €12.75 billion worth of deals and collaborations were signed between UAE and Greek organizations. These agreements span digital infrastructure, artificial intelligence, renewable energy, manufacturing, logistics, ports, healthcare, life sciences, and food security. It’s important to note that these accords are separate from the €15 billion investment plan. Greek Prime Minister Mitsotakis attended the forum along with senior officials from both nations.
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi remarked that the agreements and the new investment outlook reflect increasing confidence between the two economies. He emphasized the importance of translating that confidence into actionable projects. Al Zeyoudi also highlighted the UAE’s role as a hub for trade, investment, and connectivity, describing Greece as a strategic gateway to Europe. Greek Deputy Foreign Minister Haris Theoharis also participated in the event.
Greece positioned as a key access point to European markets
The UAE’s decision to boost its investment in Greece underscores its confidence in the country’s economic potential and investment climate. The UAE pointed to Greece’s strategic geographical location and its capacity to serve as a bridge connecting European markets with regional and global economies. The expanded initiative aims to enhance cooperation between investment institutions and corporations from both nations, fostering innovation and the sharing of expertise. The goal is to create new pathways for investment opportunities.
This move aligns with a broader UAE strategy to establish long-term investment alliances across Europe. In September, the UAE announced a €40 billion investment package for Germany across various sectors and has increased discussions with other European nations such as Italy. Officials emphasized that Greece’s role in this initiative signifies a new phase of cooperation that extends beyond mere financial commitments, aiming for sustainable and mutually beneficial partnerships.