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UAE launches ‘promotion partnerships’ to attract FDI

UAE launches ‘promotion partnerships’ to attract FDI

New investment “promotion partnerships” in the UAE have been launched to further develop trade and investment in the country, The UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, said at a press conference on Tuesday. “Today we mark the beginning of true collaboration as we announce the UAE investment promotion partnerships,

New investment “promotion partnerships” in the UAE have been launched to further develop trade and investment in the country, The UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, said at a press conference on Tuesday.

“Today we mark the beginning of true collaboration as we announce the UAE investment promotion partnerships, which encourage local investment promotion authorities, free zones, and UAE private companies to attract foreign direct investment toward important projects that will benefit the country,” Al Zeyoudi said.

“Through this initiative, the new platform will help to accelerate sustainable economic diversification in the UAE and the whole region,” he added.

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This week, the UAE announced its ‘Projects of the 50’ campaign, a series of projects and initiatives to plot the country’s economic, political and social growth over the next 50 years.

The new green visa and freelancer visas were among the first 13 initiatives announced. Under the plan the UAE will also look to boost its annual non-oil exports and boost foreign direct investment, looking to attract AED550 billion ($150bn) to the UAE over the next nine years.

The Emirates Investment Summit, to be held next spring, will connect investment funds with public and private sectors to achieve this end.

Minister Al Zeyoudi said on Tuesday that the UAE is among the top 20 countries to attract FDI, and in 2020, FDI to the Emirates increased by 44.2 percent compared to 2019, despite the outbreak of the Covid-19 pandemic.

“The UAE is a forward-thinking nation and despite challenges, the UAE has been able to maintain its status as one of the best countries to live and work in,” he said.

The Annual Investment Meeting (AIM) will take place on March 29 and 30 at Expo 2020, Minister Al Zeyoudi announced.

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