MEB makes business ties with USA, Vietnam and Djibouti

The Monaco Economic Board has accomplished three missions with three very different entities in the past month, starting with a trip to the United States, followed by two locally-based forums with Vietnam and Djibouti.

It’s been a busy few weeks for the Monaco Economic Board (MEB), who have been on the go and on the ground forging new relationships with countries around the globe, notably the USA, Vietnam and Djibouti.

Guillaume Rose, Executive Director of the MEB, explains that “By multiplying the meetings with quality interlocutors from all over the world, we strive to offer a maximum of business opportunities to Monegasque companies with an international outlook. These actions are intended to make Monaco a business hub within Southern Europe, and to further strengthen our strong appeal to economic decision-makers around the world. In this regard, we welcome the recent appointment of Frédéric Genta. This is an asset that can help tip the balance of economic decisions in our favour.”

On 29th April, MEB reps Michel Dotta, Justin Highman and Guillaume Rose visited the American state of Indiana where they were received by Governor Eric Holcomb and his Secretary of Commerce Bradley Chambers. They were treated to a business luncheon and later,a cocktail event, where several MEB member companies were in attendance.

Governor Holcomb is pushing for interactivity between his state and Europe, and the connections and opportunities between the Principality and Indiana were strengthened via discussions on energy transitions, electric car technology, sustainability and innovation, and of course, motorsport with the Andretti Autosport team taking part in the Formula E race.

Europe is one of the leading regions for Indiana in terms of foreign direct investment and business ties. Within this region, Monaco enjoys an excellent image with Indiana, particularly for the dynamism of its yachting sector, but also for its resilience in times of crisis.

On 4th May, the MEB organised an economic conference dedicated to Vietnam at the Novotel Monte-Carlo. Vietnam, considered one of the “Asian Tiger” countries, is looking at a 6% GDP rebound in 2022, making them an attractive place to do business with. Additionally, the country of 98 million has opened up to free trade agreements with Europe in recent times, making them a good alternative to the Chinese.

Toan Thang DINH, Ambassador of Vietnam in France and Monaco, and Quôc Cuong DAO, in charge of investment promotion, presented the economic assets of their country to about 50 key leaders, before the Asian delegation visited two Monaco companies who are already active in their nation, 3xEngineering and SIAMP CEDAP.

Finally, on 9th May, the Monaco Economic Board, in partnership with the Club of Monegasque Entrepreneurs in Africa (CEMA), represented by its President

Frédéric Geerts and his Secretary General Denis Ruyant, organised an economic forum intended to intensify business relations between Monaco and the Republic of Djibouti, a country with a population of one million that enjoys a strategic location at the entrance to the Red Sea.

Bilateral economic presentations started off the day, leading to the signing of memoranda of understanding between the Chamber of Commerce of Djibouti and the MEB as well as a BtoB meeting session.

Maritime transport was the primary focus, but hardly the only, with meetings dedicated to finance, renewable energies, tourism, logistics and telecoms on the agenda. In the end, over 60 meetings brought Monaco and Djiboutian business people together.

During their stay in the Principality, the members of the Djiboutian delegation also visited members of “Team Monaco” who work to promote the Principality’s international influence: the MonacoTech incubator-accelerator, the Monaco Scientific Center and the Oceanographic Museum.

Photo: Frédéric Genta and Guillaume Rose with Eric Holcomb and the delegation in Indiana, by MEB/Carte Blanche