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The MEB pulls out all stops to generate new business opportunities

The Monaco Economic Board hosted three very different business delegations in the space of two weeks. In each case, important agreements were reached leading to more new opportunities for MEB member companies.

Djibouti - a promising business forum

On Monday 9 May at the Méridien Beach Plaza, the MEB in partnership with CEMA (Club des Entrepreneurs Monégasques en Afrique), represented by its President Frédéric Geerts and General Secretary Denis Ruyant, organised a business forum to boost business relations between Monaco and the Republic of Djibouti, a country with a population of one million, enjoying a strategic location at the entrance to the Red Sea.

The morning saw bilateral presentations (MEB, CEMA & AMAF for Monaco; and Djibouti’s Chamber of Commerce and Sovereign Fund) and Djibouti’s Chamber of Commerce signing Memoranda of Understanding first with the MEB, then with CEMA, followed by BtoB meetings. While the shipping sector was well represented in the African delegation, it being a pillar of the economy, other sectors present included finance, renewable energy, tourism, logistics and telecoms. Sixty-plus interviews were arranged between Monaco and Djibouti entrepreneurs.

The forum followed a “CEMA Collection” MEBinar on Djibouti last December that proved a catalyst in bringing the two together. The delegation was led by H.E. Mr Ayeid Mousseid Yahya, Djibouti Ambassador in France and Monaco, and officials who helped organise the event: Alexis Mohamed, Adviser to the President of the Republic who had met Monegasque authorities during a trip to the Principality in July 2021; Mrs Jordana Remon-Coubeche, Monaco Honorary Consul in Djibouti; Youssouf Moussa Dawaleh, Djibouti Chamber of Commerce President; Slim Feriani, Djibouti Sovereign Fund General Director; and Djibouti Honorary Consul in Monaco, Jean-Jacques Robin.

During their trip, the Djibouti delegation members also visited Team Monaco members who promote the Principality abroad, the MonacoTech incubator-accelerator, the Monaco Scientific Centre and the Oceanographic Museum, all chosen for their ocean-linked science and new technology, a potential area for rapprochement between the two countries.




Vietnam - a destination in MEB’s sights

A week earlier on Tuesday 4 May at the Novotel Monte-Carlo, the MEB organised a business conference on Vietnam, which for many years has been one of the most dynamic of the “Asian tigers” and which expects to benefit from a weakening Chinese economy to increase its GDP by more than 6% in 2022. 
H.E. Mr Toan Thang Dinh, Vietnam’s Ambassador in France and Monaco, and Quôc Cuong Dao responsible for investment promotion, did a presentation on their country’s assets to an audience of 50 business leaders. 
With a population of 98 million, Vietnam has opened up to the world in signing numerous free trade agreements, including with the European Union. Its industrial sector has moved upmarket in recent years and is a credible alternative to the Chinese giant for investors. 
During their visit to Monaco when H.E. Mr Toan Thang Dinh presented his credentials to the Sovereign, the delegation visited two companies very active in Vietnam, 3xEngineering and SIAMP CEDAP. These successful partnerships could inspire others, especially as the MEB has highlighted sufficient synergies with its members to plan for a Trade Mission in 2023 or 2024.  



Indiana (USA) a whistle-stop delegation

Lastly, on Friday 29 April, the MEB represented by Michel Dotta, Guillaume Rose and Justin Highman, accompanied by newly appointed Country Chief Officer of Attractiveness, Frédéric Genta, met Indiana Governor Eric Holcomb, his Secretary of Commerce Bradley B. Chambers and their delegation at a very promising business lunch. Later, the Indiana Governor invited MEB members to the cocktail held later in the day.

The delegation was on a tour to promote the State of Indiana and its economy in Europe, and this visit, which followed similar ones in Sweden and UK, was as a result of excellent contacts made by the Principality’s Ambassador to the USA, H.E. Maguy Maccario Doyle. It was a chance to strengthen strategic relationships and highlight their cutting edge industries, with the focus being on energy transition, electric car technology, sustainability and innovation, and of course motorsport as Andretti Autosport were competing in the Formula E races. 

Indiana’s economy is booming thanks to a thriving entrepreneurial ecosystem, drastic debt reduction and growing population.  Europe is a flagship region for Indiana in terms of foreign investment and trade ties. Monaco has an excellent image in Indiana, particularly for its dynamic yachting sector and its resilience during the past health crisis.

Guillaume Rose, MEB CEO:

“By increasing the number of quality meetings with interlocuters all over the world, we strive to maximise opportunities for Monaco businesses with an international outlook. These actions are intended to make Monaco a business hub in southern Europe and further boost our appeal to decision-makers the world over. Hence why we welcome the recent appointment of Frédéric Genta. He is an asset that can help tip the balance of business decisions in our favour”.