ATIC CEO Emphasizes Advanced Technology Partnership

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Ibrahim Ajami addresses U.S. business executives in Washington, D.C.

Mr. Ibrahim Ajami, the Chief Executive Officer of Abu Dhabi’s Advanced Technology Investment Company (ATIC), spoke to members and associates of the U.S.-U.A.E. Business Council and government officials from the U.S. and U.A.E. during an event today in Washington, D.C. regarding the burgeoning relationship between the U.S. and U.A.E.’s advanced technology sectors, and ATIC’s vision to develop an internationally focused advanced technology industry in the U.A.E.

Mr. Ajami also discussed ATIC’s ambitious Research and Development (R&D) plans for the next few years.

ATIC has committed over $10 billion in GLOBALFOUNDRIES, a joint venture between ATIC and California-based Advanced Micro Devices (AMD), since the company’s founding in early 2009. In just a year and a half, GLOBALFOUNDRIES has become a cornerstone of the international semiconductor manufacturing industry, facilitating economic growth and creating jobs in both the U.S. and the U.A.E.

In fact, ATIC has recently announced that GLOBALFOUNDRIES’ “Fab 8” facility, located in upstate New York’s Saratoga County, is set to begin production in 2012. The state-of-the-art manufacturing plant is expected to create around 5,000 jobs.

In the U.A.E., ATIC recently announced plans to open an R&D manufacturing and education center in Abu Dhabi with the intent to broaden the U.A.E.’s advanced technology educational resources and generate locally-educated advanced technology experts. The R&D center will feature leading research and academic institutions from the U.S. and the U.A.E.

“The goal of ATIC’s aggressive investment and development program is to build up the local infrastructure and manpower in the U.A.E. while expanding our collaborative efforts with the U.S. advanced technology sector,” Mr. Ajami said. “Our recent announcement of our research and development strategy is strong evidence of our commitment to facilitating the U.A.E.’s effort to become an international authority on advanced technology,” he added.

“The Business Council is proud to have ATIC as one of its Founding Members and we feel strongly that participation by Emirati companies with talented leadership and a focus on diversifying the U.A.E. economy with participation by U.S. companies indicates just how dynamic the commercial relationship between the U.S. and the U.A.E. really is,” said Danny Sebright, President of the U.S.-U.AE. Business Council. “Mr. Ajami’s remarks deepen our understanding of the priority development sectors in the U.A.E. and highlight opportunities for business and cooperation among our members.”

Mr. Ajami joins a diverse group of U.S. and U.A.E. experts who have presented their ideas to the U.S.-U.A.E. Business Council’s members and associates this year as part of the Business Council’s efforts to advance commercial ties between the two countries.

About the U.S.-U.A.E. Business Council

The U.S.-U.A.E. Business Council is a progressive business advocacy organization solely committed to advancing the trade and commercial relationship between the United States and United Arab Emirates.

For more information on the U.S.-U.A.E. Business Council, please visit: http://www.usuaebusiness.org and follow us on Twitter at http://twitter.com/usuaebizcouncil

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Brian Principato