His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, has called for accelerated national efforts to further bolster the UAE’s status as a pre-eminent global hub for investment and a leading destination for entrepreneurs and emerging companies in future economy sectors.
During a meeting with His Excellency Mohammed bin Hassan Alsuwaidi, the UAE’s Minister of Investment, His Highness reaffirmed the importance of implementing the directives and vision of the leadership and achieving the goals of the UAE’s ‘We the UAE 2031’ vision, which seeks to position the country at the forefront of the global economy.
The discussions, also attended by His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, underscored the UAE’s ambitions of cementing its global leadership as an investment destination.
Promoting FDI in key sectors
The meeting reviewed the latest developments at the Ministry of Investment, focusing on key initiatives that seek to strengthen the country’s competitiveness for investors, entrepreneurs, and international companies. During the meeting, the investment minister briefed Sheikh Hamdan on the Ministry’s efforts to promote foreign direct investment in key sectors vital to the UAE’s global competitiveness.
Sheikh Hamdan also emphasized the importance of leveraging innovation to promote sustainable development and strengthen the national economy. In addition, he highlighted the need to invest in developing Emirati talent by advancing their skills and capabilities and empowering them to contribute to driving growth and economic diversification.
Building investor confidence in UAE
Sheikh Hamdan added that continued cooperation between government entities and investors is crucial to opening new pathways for sustainable growth and realizing the leadership’s vision of making the UAE a top global trade and investment hub.
He added that fostering a secure investment environment is key to encouraging foreign investors to expand their ventures in the UAE. This involves implementing flexible and attractive policies that support growth and build investor confidence, as well as providing advanced infrastructure and an enabling legislative framework.
FDI inflows surge
The UAE’s strategic efforts to boost investment have already generated impressive results. This is evident in the UNCTAD’s Global FDI Report 2024, which shows that the value of inward FDI in 2023 to the UAE amounted to $30.688 billion (AED112.6 billion), compared to $22.737 billion (AED83.5 billion) in 2022, a growth of nearly 35 percent. This expansion placed the country in second place globally in FDI inflows in 2023.
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