UAE 'strategic hub for foreign investments'
Abu Dhabi, April 1, 2013
The UAE has become a strategic hub for foreign investments and leading international establishments due to its solid economic fundamentals and wise economic policies based on openness, diversity and flexibility, said Sultan bin Saeed Al Mansouri, the Minister of Economy.
Al Mansouri was speaking ahead of this year's Annual Investment Meeting being hosted by the Ministry of Economy on April 30 under the patronage of Sheikh Mohamed Bin Rashid Al Maktoum, the UAE Vice president, Prime Minister and Ruler of Dubai.
The event is aimed at will provide a comprehensive and genuine assessment of investment opportunities in frontier, emerging and transition economies with a special focus on some high growth regions such as Africa and Asia as well as the Mena region and in particular the UAE, which has become a regional economic powerhouse.
The AIM has become a comprehensive platform in bringing the attention of government, decision makers, private sector and other related entities including the civil society as it offers exclusive discussions to exchange views between participants from around the world, said the minister.
He said the “Investment Map Project” is the latest initiative launched by the ministry to woo foreign investment capital and promoting UAE among investors.
"Furthermore, it enlightens potential businessmen from around the globe about investment opportunities and to better understand the realities here," he noted.
The ministry, he said, was keen to develop the economic legislative system in the country as it continues to work on putting the final touches on a number of draft laws to enhance UAE business performance; most notably the foreign investment law, corporate, industry and small and medium enterprises, competition and intellectual property rights protection.
"All these draft laws are in their final stages," added Al Mansouri.
According to him, the new investment law will give extra protection for foreign investors; include incentives to encourage foreign investment; aim to enhance the investment climate in the UAE and to ensure economic diversification in line with UAE Vision 2021.
Al Mansouri also hailed the efforts of Ministry of Foreign Trade headed by Sheikha Lubna bint Khalid Al Qasimi, the Minister of International Co-operation and Development and her role in making this meeting a success in its past editions.
The Ministry of Foreign Trade had organised the past events, however from this year Ministry of Economy will host the AIM as MoFT tasks were shifted to MoE as per the new cabinet formation announced by Sheikh Mohammed.
Al Mansouri described the UAE as a motivating environment for investors, as it allows full ownership in free zones and has top infrastructure, availability of efficient and highly qualified manpower, the protection of intellectual property rights and laws against piracy, strategic geographical location which is a gateway to the Mena and South Asia for international companies that look for premium investments.
The minister also emphasized on promising investment opportunities in the aviation, tourism and hospitality, retail, health care, industry, oil and gas, renewable energy, financial services, logistics and education.
He stressed on the importance of Foreign Direct Investment to the UAE and its impact on sustainable development; its role in strengthening the national economy and the success of UAE's strategy to build a sustainable economy based on knowledge and innovation, which falls in line with UAE Vision 2021.-TradeArabia News Service