UAE investment appetite 'strengthens' says expert
Abu Dhabi, March 16, 2014
The investment appetite in the UAE was returning strongly, at both the public and private levels, and the growing investment appetite is set to further strengthen, said an expert.
Rashid Al Baloushi, chief executive officer of the Abu Dhabi Securities Exchange (ADX) highlighted the role of developing countries and the impact of their stock markets in driving economic development and sustainable growth at a Berlin congress recently.
Al Baloushi was a guest speaker at the annual Berlin International Economics Congress, a global assembly of political, diplomatic, cultural and business leaders.
Organised by the Institute of Cultural Diplomacy, it analysed trends in global economies and explored the potential for green industries, education, entrepreneurship and tourism to be used as drivers of sustainable economic growth, said a statement.
Al Baloushi anchored a panel which discussed “Engaging Developing Countries in the Creative Economy for Sustainable Development.”
“In the UAE we have an economic vision which we constantly benchmark against the investments we make, so as to create an economy in the future which is diversified, which provides opportunity for our citizens to participate in and – for some – be the leaders of,” said Al Baloushi.
“We have identified the sectors in which we believe we have comparative advantage. And we have a range of investment vehicles through which we are channelling spending in the economy through industrial and other projects, and investments of our wealth for future generations,” he said.
He went on to highlight the performances of the ADX and Dubai Financial Market in the past year, achieving growth of between 63 and 108 per cent, as well as the commitment by the Abu Dhabi government to spend around $100 billion up to 2017 on major infrastructure projects.
Pointing to the decision by the MSCI to upgrade the UAE to emerging market status, he said: “Not only does it recognise the progress we have made to meet the standards required by international investors, but it also of course helps to bring in the international investment that will accelerate our development.” - TradeArabia News Service