Mustafa Abdul Azim (Sharjah)
At its inaugural edition of the Investobia Investment Summit hosted by the United Arab Emirates on March 28, the Ministry of Economy confirmed that it was working to create a new roadmap for future FDI in the United Arab Emirates and the world. For the purposes of the Fifty Plans, the country needs to upgrade its plans to attract $ 550 billion in foreign investment by 2030.
His Excellency the Minister of Economy Abdullah bin Dukh Al Marri has revealed strong positive indicators of the number of foreign direct investment inflows to the United Arab Emirates in 2021, which is higher than the record number recorded in 2020, at about $ 20 billion. Efforts by the State to promote and consolidate its investment competitiveness The United Arab Emirates is ranked 15th in the world and the most attractive country to invest in the region.
He told a news conference yesterday that the national economy had been successful in cooperating and enriching the discussions of the summit following the signing of the Memorandum of Understanding between the Investobia Investment Summit and the Sharjah Foreign Direct Investment Office (Investment in Sharjah). The flexibility to overcome these challenges and the 33 Initiatives program to address the challenges posed by the Covit-19 epidemic that has plagued global economies have played a key role in achieving credible and optimistic results in most indicators of the economic and business environment. The nation that affirms the conscious and proactive vision of our brilliant leadership that was instrumental in shaping this flexible and integrated program and identifying its initiatives, today we see its successful benefits in the national economy and the state of the country and its competitiveness. A consistent target for business, investment, talent and pioneering projects regionally and globally. The second phase is almost complete with the implementation of the 33 Flexible Initiatives package of the Economic Recovery and Development Plan, which is being implemented in three phases, indicating that preparations are underway to launch the third phase. The success of Phase II, after the success of providing integrated support to the national economy and sustaining long-term growth, has focused on implementing rapid economic recovery through initiatives aimed at enhancing the knowledge and innovation of its initiatives, improving technology, research and role. Growth, and digital transformation in the economy, keeping pace with future trends and new economic sectors, and attracting quality investments that will lead to transition towards a new, more flexible and sustainable economic model.
Flexibility in dealing with variables
He said the UAE economy was highly flexible and agile in dealing with economic changes around the world, and had the exceptional ability to formulate and improve policies, regulations and laws in response to these changes, thus contributing to integration. Country position as preferred destination for investors, companies and talent.
He pointed out the importance of comprehensive economic partnership agreements within fifty projects, the first of which was signed with India, pointing out its role in strengthening the economic position of the country and doubling the national economy from the current 1.4 trillion dirhams to 3 trillion dirhams. 2030 indicates that preparations are underway to sign agreements with other countries, especially Turkey, Israel and Indonesia, in addition to other countries on the list of 8 countries.
Memorandum of Understanding
The signing of the memorandum was witnessed by the Minister of Economy, His Excellency Abdullah bin Dukh Al Marri and the Chief Executive Officer of the Sharjah Investment and Development Authority (Shrook) Marwan bin Jassim Al Sarkal. Mohammed Zuma al-Musharrak, Minister of Economy and Managing Director of the Office of “Investment in Sharjah”. .
Abdullah al-Saleh said the Investobia platform works to integrate all national investment opportunities and development projects from the seven emirates, pointing out that the Memorandum of Understanding with the Sharjah Investment and Development Authority translates into the Sixth Policy of the Fifty Principles. The United Arab Emirates is an economic destination. A tourist site, an industrial site, an investment site, a cultural site. Marwan al-Cherkel hoped that the Investobia Summit would contribute to a qualitative shift in the foreign direct investment map in the UAE and enhance its investment attractiveness. Mohammed Zuma al-Musharraf said the UAE was packed with benefits, incentives and various investment opportunities in all sectors. Friendly environment for foreign and local investment and entrepreneurship, projects and emerging companies in the region. Established an advanced model for comprehensive development in its economic and social dimensions.
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