Thursday 21 June 2018

UAE economy grows 4pc in 2013

Dubai, March 4, 2014

Economic growth in the UAE accelerated to 4 per cent in 2013 boosted by a solid performance from non-oil sectors mainly tourism, industry, finance and trade, said the country's economy minister.

Sultan Bin Saeed Al Mansoori hailed UAE’s tremendous success that surpassed expectations of the most optimistic economists, strengthening its position on the regional and international economic scene.

Al Mansoori made these remarks in connection with the preparations for the 4th Annual Investment Meeting (AIM) which will be held at the Dubai International Convention and Exhibition Centre from April 8 to 10.

The minister said the UAE had opened new horizons for new direct investment with the aim of accelerating diversification of economy.

He added that the AIM, which will review direct investment opportunities in the UAE for Arabs and foreigners, is a reflection to the ministry’s efforts in this regard.

Al Mansoori described the event as an ideal platform to showcase direct investment opportunities available in various emerging markets around the world.

AIM is being held in the UAE at a time when the country's economy is worth Dh1.4 trillion ($381 billion) as per International Monetary Fund (IMF) estimates, which is a significant achievement in such touch economic conditions, he added.

According to him, the non-oil sectors had the highest share of contribution in this remarkable growth, where sectors like tourism, industry, finance, and trade were the biggest contributors.

The upcoming event will highlight FDI in various sectors, including tourism, industry, finance, trade, education, telecommunications and real estate development, entertainment, retail and others.

“Our reading is that the UAE markets will become more favorable for foreign investments in 2014 in most non-oil sectors, especially tourism, real estate and financial sectors. Moreover, events like the AIM, will help boost this growth,” remarked Al Mansoori.

Dawood Al Shezawi, the CEO of AIM organizing committee said: “Preparations are in full swing for the upcoming AIM. Many delegations have confirmed participation in the event that will also attract ministers of economy, undersecretaries, high-level economists, financial analysts, specialists in various fields of investment, government officials as well as decision-makers from the public and private sectors.”

It is expected that AIM will see attendance of representatives from 120 countries and attract more than 10,000 visitors.

AIM, which will include discussion on China investments, will present case studies about investment practices in emerging markets. It will also highlight best practices and investment fundamentals in today’s world.  It will also witness the launch of the 2013 FDI Report.

In addition, the event will throw light on legislative and regulatory frameworks for investment, as well as hold seminars on topics related with direct investments in emerging markets.-TradeArabia News Service

Tags: UAE | Economic Growth |

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