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Scottish Government Strikes Fresh Investment Deal With UAE
The government said the deal reflects a push to diversify export markets and attract overseas capital amid global economic turbulence.
The Scottish Government has inked a new agreement with the United Arab Emirates (UAE) that it says will allow Scottish entrepreneurs and businesses to gain direct access to investment opportunities and partnerships in the Middle Eastern state.
The deal, signed by deputy first minister Kate Forbes, will give Scottish businesses access to UAE investors at key trade events such as the UAE’s flagship Investopia forum in March, with Scotland set to host its own Investopia Global summit later this year following an event held in December.
The government said this latest agreement will support joint ventures between small and medium-sized businesses in both countries, with a focus on knowledge sharing and training programmes that could help Scottish firms expand globally.
Regular meetings between Scottish and UAE officials will identify opportunities across key sectors, including clean energy, agri-tech, food and drink, and technology.
Under the agreement, the two countries will share investment policy insights, identify sector‑specific opportunities, and support new public‑private partnerships through new forums, exhibitions, and targeted investment missions.
The new deal follows a trade mission led by Forbes over the last week, which saw the deputy FM meet with senior government ministers and major investors in Dubai in an effort to showcase the capital investment opportunities open to investors.
“In the face of global economic uncertainty and barriers to trade, including recent USA tariff threats and Scotland’s removal from the European Single Market, we are looking to strengthen relationships with new and emerging markets,” said Forbes.
“We share strong ambitions with the UAE in clean energy, science and technology and innovation. Scotland exported £548 million in goods to the UAE in 2023, and there is huge potential for partnership in sectors such as critical tech, food and drink and research.”
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This latest agreement follows a raft of similar deals last year as the SNP looks to take advantage of the deep pockets and fast‑growing tech sector to lift Scotland’s fortunes.
In April, for example, Scottish Enterprise announced that a new energy transition hub would be launched in Abu Dhabi to support Scottish companies working in clean energy, giving them direct access to the UAE’s energy market, and hopefully boosting international exports.
Following that deal, last month saw Space Scotland sign a Letter of Intent with the UAE’s Mohammed Bin Rashid Space Centre in a bid to deepen co-operation across areas like satellite manufacturing, launch services and research.
Meanwhile, the UAE also became home to the first Robotarium in the Middle East, after entering into a collaboration with Heriot-Watt University, with Expo City Dubai set to sponsor new PhD research positions at the university.
