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The State of Victoria, a powerhouse of innovation, diversity and ideas in Australia, has long enjoyed a flourishing partnership with the United Arab Emirates (UAE). With shared values of progress, ambition, and opportunity, our collaboration has paved the way for dynamic trade, investment, and cultural exchanges. As we enter 2025, we look ahead with optimism, ready to deepen our ties and embrace new partnerships together.

Victoria: The Gateway to Australian Excellence

Victoria is a leading contributor to Australia’s economic success. It is the most rapidly growing State in Australia in terms of population, jobs growth and the economy more broadly. Home to Melbourne, our state capital and a global city, Victoria is renowned for its world-class education system, enviable lifestyle, world-leading sports ecosystem, a cultural and dining destination and a state that builds and makes things.

Our economy is built on diversity, with strengths in industries such as agriculture, advanced manufacturing, digital technology, health and life sciences, and sport.

One of Victoria’s great assets is our extensive international presence and reach. With 23 trade and investment offices strategically located in key markets across the globe, Victoria boasts the largest international network of any Australian state or territory. These offices play a vital role in connecting Victorian businesses with international partners and vice-versa, fostering collaboration, and driving economic growth.

The UAE holds a special place in Victoria’s international partnerships. As the first Australian state or territory to establish a trade and investment office in Dubai in 1997, Victoria has demonstrated its long-term commitment to region, and over the years, this relationship has enabled Victorian businesses to explore new markets, share expertise, and achieve success across traditional and emerging industries.

Longstanding Partnership with the UAE

The recently concluded Comprehensive Economic Partnership Agreement (CEPA), announced in September 2024, between Australia and the UAE marks a significant milestone in our bilateral relations. The UAE is already Australia’s and Victoria’s largest trade partner in the Middle East and the Agreement is set to strengthen economic ties, offering expanded opportunities for trade and investment.

A testament to this growing relationship is the significant investment by the UAE’s Lulu Group in Melbourne, which highlights the confidence of UAE businesses in Victoria’s thriving economy and underscores the potential for deeper economic ties in the years ahead.

These economic links are further enriched by the vibrant UAE-born community in Victoria, which represents 33% of the UAE-born population in Australia, fostering strong and valuable people-to-people connections.

Education: A Pillar of Collaboration

Victoria is Australia’s leader in transnational education, supported by the largest offshore education network of any Australian state. Victoria is home to 18 major medical research institutes, 10 universities with four dual sectors, 12 TAFEs. These institutions, together with our state’s schools, underpin a highly skilled workforce. Each year, over 12,000 students from the broader META region choose to study in Victoria, drawn by our globally ranked universities, vocational training and English Language institutes. Beyond the classroom, we collaborate with Middle Eastern institutions to develop tailored education programs, share research, and foster innovation.

We believe in creating opportunities for lifelong learning and upskilling, ensuring that individuals and industries alike can adapt to the evolving global economy. This vision aligns with the UAE’s forward-thinking approach to education and workforce development.

Sport: A Bridge Between Cultures

Sport is a universal language that brings people together, and Victoria has established itself as the undisputed sporting state of Australia, driven by Melbourne’s world-class sports calendar, premier sporting infrastructure, and thriving innovation networks.

As the only city in the world to host both a Tennis Grand Slam (Australian Open) and a Formula 1 Grand Prix we also excel off the court with a leading business of sport event, the upcoming SportNXT conference. Our state is at the forefront

of using sport to foster international relationships.

As the Victorian Government is dedicated to fostering long-term, meaningful relationships, building on shared interests and the Gulf’s growing focus on sports as an economic driver, I recently led our first-ever trade sports economy trade delegation to the Gulf, made up of more than 20 world class Victorian companies with expertise and comprehensive knowledge across a wide array of sports sectors.

Victoria’s expertise in sport extends beyond hosting world-class events. We are leaders in sports technology, infrastructure, community participation and governance.

Future Perspectives: Opportunities Abound

Victoria’s strong ties with the UAE are exemplified by the success stories of Victorian companies that have established a presence and thrived in the region. Ego Pharmaceuticals, a leading skincare manufacturer, has expanded its footprint in the UAE, providing high-quality products tailored to the needs of the local market and building strong brand recognition. Last year, they celebrated 30 years since the opening of their office in Dubai in 1993.

Similarly, PMY Group, a global technology consultancy specializing in major events and infrastructure, has brought its expertise to the UAE, supporting high-profile projects with innovative solutions. These companies represent the strength and versatility of Victorian businesses, showcasing their ability to adapt, innovate, and contribute meaningfully to the UAE’s dynamic and ambitious economy.

Looking ahead

Upcoming key events in Melbourne such as the World Chambers Congress (WCC) in September 2025 —offer platforms to showcase our shared strengths, vision and deepen connections.

The 14th WCC will take place in Melbourne from 2 to 4 September 2025 at the Melbourne Convention and Exhibition Centre. Dubbed the ‘Business Olympics,’ this premier global event is poised to welcome business leaders and innovators from around the world, showcasing Melbourne’s thriving business community while fostering meaningful connections and collaborations that will drive the future of global exchanges. This is a perfect opportunity to welcome valued partners and business leaders and influencers from the UAE to connect and strengthen ties.

We are also actively supporting numerous trade delegations to the UAE, ensuring that Victorian companies are well-positioned to engage and grow in these high-profile, sector-leading trade shows. Key sectoral events, such as Gulfood, provide a platform to strengthen partnerships, explore new opportunities, and showcase Victoria’s expertise across a range of industries.

Let’s chat

Ever changing challenges demand collaboration and innovation. By working together, Victoria and the UAE can drive solutions that benefit our people and economies. Whether through advancing renewable energy, fostering entrepreneurship, or celebrating cultural diversity, our partnership is a testament to what can be achieved through shared vision and determination.

As we embark on the new year, I extend my deepest gratitude to our partners in the UAE for their ongoing support and friendship. We look forward to continuing the work in 2025 and building on our relationship defined by trust, mutual respect and shared ambitions.

For those interested in connecting or learning more about opportunities with Victoria, we invite you to reach out and connect with our team. We look forward to the conversation.

UAE is coagulating its standing as one of the promising hubs of startups and scale-ups in the region. According to global level field players, institutions and indicators, the country is in a progressive and promising path enhancing the number of startups. The government is involved in creating an integrated investment environment by introducing favorable business regulations and flexible policies. Programs like Abu Dhabi’s Hub71, Dubai Future Accelerators, and the Sharjah Entrepreneurship Center (Sheraa) provide startups with mentorship, office space, and funding. These initiatives help entrepreneurs connect with global investors and partners, giving them the resources they need to grow.

Recent statistics show that the UAE topped the GCC countries as the leading incubator for startups, with over 8,600 startups registered across the country in the year 2024. The data highlighted that the UAE is leading the region in the fintech startup sector, with over 750 plus companies currently operating in this field.

Reports from the global consulting and research firm, Startup Genome, affirmed that the UAE’s various emirates continue to advance in international rankings, emerging as the fastest-growing startup ecosystems in the region. Abu Dhabi, Sharjah and Dubai are taking the lead by creating incentivised environments of which Abu Dhabi maintains its position as the fastest growing startups ecosystem in the MENA region. Abu Dhabi itself achieved almost USD 6 billion in value during the period of 2021-2024. The report also indicated that early-stage start-up funding amassed to USD224 million, while venture capital funding between the second half of 2021 and 2023 exceeded USD1 billion, driven by the growing activities of startups operating under Abu Dhabi’s global tech ecosystem, Hub71. Abu Dhabi’s startup community continues to grow, driven by Hub71’s dedicated programmes, strategic partnerships, and commitment to innovation, which strengthens Abu Dhabi’s position as a leading and fast-growing global technology hub.

Dubai also strengthened its leadership in creating ecosystems that support start-up growth, ranking at the top of both global and regional startup ecosystem valuations. Dubai ranked first in the Gulf and second in the region in this field. In5, a TECOM Group subsidiary, has supported more than 1,000 startups, raising funding since its inception in 2013, continuing to play a pivotal role in promoting the sustainable economic growth of these companies.

Sharjah holds a global position by making significant contributions to business growth in the UAE, hosting around 60,000 small, medium, and startup companies distributed across its free zones and industrial zones.

The UAE Ministry of Economy has introduced a “Scale-Up Platform” which serves as a one-stop-shop online portal for small and medium-sized enterprises with high growth potential that provides access to products and services designed to enable the scaling of future unicorns. It focuses on five major pillars, namely, digital transformation, global expansion, joint operation and support services, exports promotion and support, and funding.

The future of the UAE’s economy is closely tied to the success of its startup ecosystem. Start-ups will continue to drive innovation, create jobs, and help diversify the economy. Startups will be essential in shaping the next phase of economic growth—one based on creativity, technology, and sustainability.