UAE to launch investment map in November
Abu Dhabi, July 3, 2011
The UAE will launch an investment map, which will set the strategic direction for foreign investments into the country, in November, said the Minister of Economy.
Sultan Bin Saeed Al Mansoori said the initiative comes in line with the ministry’s commitment to drive the economic development of the UAE through vital projects that contribute to the overall competitiveness of the economy.
Al Mansoori said the investment map is being implemented by the ministry in cooperation and partnership with Dar Al Tawasol, a UAE national company that will provide provide strategic and technical support for the project as part of a long-term plan of 84 months until 2018.
He said the key objective of the project is to promote investment opportunities in the UAE by highlighting the advantages and incentives of investing in the country across various high growth sectors.
Al Mansoori said the ministry will adopt an executive programme to drive projects that will provide sufficient and relevant data on the UAE investment environment and the various sectors that are ideal for foreign investments.
He said the project will further strengthen the pillars of the knowledge-based economy – a priority for the ministry.
Nearly 92 per cent of the ministry’s services are currently handled electronically and it is expected to rise to 95 per cent by the end of the year by working with other local departments.
Firas Dahlan, executive director of Dar Al Tawasol, said the company would set up four offices in four countries in the first stage to highlight information on various projects implemented in the UAE and promote them.
He added that the company has undertaken a comprehensive study on the investment opportunities in the UAE for the countries falling under the investment map and will target major international companies and global investors.
Nada Al Hashimi, director of investment management at the ministry, said that the first phase of the map focuses on 11 countries in Asia, Europe and South America, and the ministry will work in collaboration with Dar Al Tawasol to open representative offices initially in Britain, Italy, Spain and South Korea.
She explained that there is coordination at the federal level with commercial representation offices to promote investments in the countries that have been identified.
She said that as the first part of the implementation of the plan a website that provides comprehensive information on the UAE will be launched, where each emirate can furnish data on investment opportunities. -TradeArabia News Service