Non-oil sectors ‘biggest contributors to UAE economy’
Dubai, March 10, 2014
Non-oil sectors were the biggest contributors to the UAE economy’s growth last year, with growth rates reaching seven per cent in some sectors, said a senior official.
Sultan Bin Saeed Al Mansoori, Minister of Economy pointed out that this reflects the UAE’s success in diversifying its income sources with less dependence on the oil sector, thus emerging as an important player on the regional and global front in areas like tourism, entertainment, education, banking, real estate, hospitality and others.
More than 60 ministers are set to discuss investment operations in sectors like agriculture, tourism, entertainment, infrastructure and logistics for regional and international investors at a conference in Dubai next month.
The fourth Annual Investment Meeting (AIM) will run from April 8 to 10 at the Dubai International Convenstion and Exhibition Centre and is organised by UAE’s Ministry of Economy.
The topics will cover risk management, marketing, dynamic institutional investments as well as investments in sectors of energy, manufacturing and financial operations, said Al Mansoori.
The event targets rapidly changing economies and countries as well as emerging industries. It has attracted a mix of government officials with big private assets, owners, and entrepreneurs from all over the world.
“This three-day event will showcase international study cases from diversified economies and the role of the UAE in establishing new horizons for foreign direct investments (FDI) with the aim of accelerating the transformation to a more diversity in the local economic sector,” said Al Mansoori.
Dawood Al Shezawi, CEO, AIM’s organising committee, said: “AIM provides leadership in specialised investments in the world. The forum targets FDI in emerging markets that are attracting larger number of regional and global investors.”
The meeting will also focus on best practices in attracting investment from emerging markets. It will explore a new approach needed to successfully target these markets, particularly for investment promotion agencies.
“AIM’s role is to attract capitals to the vital sectors in the UAE. It offers project developers across several sectors informative platform to present their projects for companies and private investors who are looking for reliable and feasible projects,” said Al Shezawi.
“It also offers unique experiences to keep abreast of latest achievements in the world of investments, highlighting its role as an eye opener and partnership builder between stakeholders,” he added. - TradeArabia News Service