UAE’s sovereign investors, including Mubadala Investment Co. and ADQ, are looking to invest up to $10 billion in Israel over the next ten years, according to a media report. 

The plans, which also include setting up offices in Israel and supporting Israeli businesses and other projects, are yet to be finalized as representatives from the two countries are still in “early stages” of discussions, Bloomberg reported, quoting sources who asked not to be identified. 

Around $2 billion of the capital will reportedly come from ADQ through its Abu Dhabi Growth Fund, while Abu Dhabi Investment Authority (ADIA) is also among those planning to invest. ADIA is the world’s fourth-largest sovereign wealth fund as of 2021, with under $650 billion in assets. 

The $10 billion investment is the latest to be reported since Israel and UAE signed the Abraham Accords Peace Agreement in 2020, a historic deal that normalized relations between the two countries. 

Last March, the UAE set up a $10 billion fund to invest in Israel’s strategic sectors, including energy, manufacturing, water, space, healthcare and agricultural technology, among others. 

The fund is in line with the commitment of the two states to develop economic relations and promote free flow of goods and services. 

(Writing by Cleofe Maceda; editing by Seban Scaria ) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2022