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Kiklabb, NY Koen Group Announce Deal to Attract Israeli Investors to UAE

KIKLABB and NY Koen Group sign deal to attract Israeli investors to the UAE. (WAM)
KIKLABB and NY Koen Group sign deal to attract Israeli investors to the UAE. (WAM)
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Kiklabb, NY Koen Group Announce Deal to Attract Israeli Investors to UAE

KIKLABB and NY Koen Group sign deal to attract Israeli investors to the UAE. (WAM)
KIKLABB and NY Koen Group sign deal to attract Israeli investors to the UAE. (WAM)

KIKLABB and NY Koen Group have announced a partnership agreement which aims to facilitate cultural understanding, foreign investment and business development between the business communities of the UAE and Israel.

The agreement will see the launch of several initiatives that coincide with the normalizing of diplomatic relations between the UAE and Israel.

This includes the launch of a center for the Jewish community in Dubai to provide support and resources for business, tourism and travel along with strategic advisory to Israeli investors wishing to launch in the UAE via KIKLABB, state news agency WAM reported.

In line with religious beliefs, the center also includes facilities to provide Israeli tourists with their needs, including kosher dining, during their visit to Dubai.

NY Koen Group will support KIKLABB in expanding its presence in Israel and introduce Israeli entrepreneurs and businesses to the benefits of working with the Dubai government-owned licensing and workspaces entity.

Commenting on the partnership, Tasawar Ulhaq, the CEO of KIKLABB, said: "We are excited by the numerous opportunities that this can bring for both of us. The exchange of ideas and knowledge is something that KIKLABB always strives for. This partnership can provide Israeli companies with not only a UAE trade licence but the tools they need to promote their products, services and increase Foreign Direct Investment and expertise within the region. With estimates suggesting that trade with the UAE could reach four billion dollars a year, the opportunities are infinite."

"Our partnership with KIKLABB comes at an important time as the region's two most innovative economies start working more closely together," said Naum Koen, CEO of NY Koen Group.

"There is immense potential for economic co-operation and investment. With KIKLABB, we can expect to see thousands of Israeli companies expand into the UAE market. We are keen to help those wishing to trade in the UAE and give them the support they need to thrive and expand their businesses."

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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)

Kazakh Ambassador to Saudi Arabia, Madiyar Menilbekov, announced that his country eagerly anticipates the completion of ACWA Power’s first wind energy project in the Zhetysu region. This project, led by the Saudi company, will have a total capacity of 1 gigawatt and an investment value of approximately $1.5 billion.
ACWA Power announced last March that it would execute this project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. Construction is expected to commence in the summer of 2025.
Menilbekov told Asharq Al-Awsat that both countries “have established a solid political dialogue at a high level, along with cooperation in trade, economics, culture, and parliamentary exchange.” He expects this high-level dialogue to continue at the upcoming COP 16 summit in Riyadh.
He further emphasized that trade, economic, and investment cooperation is the cornerstone of the bilateral relationship, noting: “Both countries share a similar outlook on economic development, reflected in Kazakhstan’s Strategic Program 2050 and Saudi Arabia’s Vision 2030.”
The Kazakh ambassador highlighted that last September, the Islamic Development Bank approved financing for projects in Kazakhstan focused on water resource development, enhancing agricultural productivity, and ensuring food security, with total allocations amounting to $1.153 billion.
In tourism, he noted significant progress toward establishing direct flights between the two countries. Air Astana launched flights between Shymkent and Jeddah in October and announced a route from Almaty to Medina, bringing the total to six direct flights. Additionally, Kazakh companies in construction, oil services, and IT have recently opened offices across Saudi Arabia. The Farabi Innovation Center was inaugurated in Riyadh to attract talented entrepreneurs and innovative startups from Nur-Sultan and Central Asia to the Kingdom.
Menilbekov explained that since gaining independence, Kazakhstan’s GDP has grown 17-fold, with foreign trade reaching $139.8 billion last year. He added: “Since 1993, Kazakhstan has attracted a total of $441 billion in foreign direct investment, allowing our economy to remain one of the most dynamic in Central Asia and the post-Soviet region.”
According to Menilbekov, Kazakhstan is the world’s largest producer and exporter of natural uranium, responsible for more than 45% of global production and exports. He also noted that Kazakhstan produces 18 of the 34 raw materials identified by the European Union as “critical materials.”
Menilbekov further mentioned that Kazakhstan possesses 200 million hectares of agricultural land, with about 100 million hectares currently under regular cultivation.