With increasing numbers of Japanese companies investing in the region, JETRO (Japan External Trade Organization) Dubai Office recently launched a small and medium enterprises (SMEs) Overseas Expansion Platform to enhance the existing support provided to these investments through stationed dedicated Japanese coordinators. Joining JETRO in this initiative as official tax advisor is the Deloitte Middle East Tax practice, which recently set up a dedicated Japanese desk in its Dubai offices to serve Japanese businesses to the fullest.
“The support program for SMEs is a highly valuable initiative and the Deloitte Middle East Tax practice looks forward to helping Japanese companies optimize their tax approach to investing in the region,” commented Alex Law, International and Mergers and Acquisitions (M&A) Tax Leader at Deloitte Middle East.
The launch of the SME Overseas Expansion Platform builds on a long tradition of close economic ties between the United Arab Emirates (UAE) and Japan. This comes after the signing of a memorandum of understanding promoting joint initiatives that support innovation and small and medium enterprises, which are considered the key element of business and economic growth in both countries.
The formal inauguration of the UAE & JAPAN – SME Platform took place on October 8, 2017 at St. Regis Hotel Abu Dhabi, and was attended by H.E Hiroshige Seko, Minister, Japan Ministry of Economy, Trade & Industry and H.E. Eng. Sultan bin Saeed Al Mansoori, Minister, UAE Ministry of Economy.
“JETRO is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. To date it has established 22 platforms across 16 countries. As of 2017, there are 442 Japanese offices in UAE, a number that has increased significantly from 211 in 2006 and we are pleased to be part of their journey in the Middle East,” said Law.