UAE’s Ministry of Economy recently hosted an investment forum aimed at strengthening investments through strategic partnerships and by leveraging the principles of the knowledge-economy.

Themed “Investment Forum and Integrated roles”, the forum was organised by the Ministry and Dubai World in Dubai.

“The event highlights the focus of the Ministry to build strategic partnerships with local government institutions to improve the investment environment and national economy in line with Vision 2021 to make the UAE among the best nations in the world,” said Sultan Bin Saeed Al Mansouri, Minister of Economy.

“The UAE offers strong investment opportunities supported by a fully developed infrastructure, and a secure and stable environment.”

"The Ministry of Economy has outlined many laws to cope with the global economic changes including the Law on Foreign Investment. The Ministry is also working on other laws to ensure an appropriate climate for further regional and international investments,” he added.

Al Mansouri stressed that the global economic challenges affected investments all over the world with investors facing huge risks due to the lack of clarity clear vision about the future.

"The impact of the crisis was limited in the Gulf region and the UAE, in particular, due to the excellent investment atmosphere, and convenient laws, and business policies. This has enabled the UAE to generate investments of $69 billion,” he added.

Al Mansouri said: “The diversification of economy in the UAE has allowed other business sectors to emerge as key contributors to the GDP. The contribution of non oil sectors to the GDP was 71 per cent in 2009 compared to 66.5 per cent in 2008.”

“Focusing on other sectors such as tourism and financial services enhanced the position of the UAE in terms of foreign investments, especially during 2005 – 2009. Foreign trade during the same period as about Dh2000 billion ($545 billion) including imports of Dh1000 billion, exports of Dh207 billion and re-exports of Dh630 billion.”

Sultan Ahmed Bin Sulayem, chairman, DP World, said: "Promoting the flow of Foreign Direct Investment into the UAE is a frontline task that demands exceptional levels of cooperation, coordination and concerted action at every level.”

“Together, our ministries, government departments and public and private sector establishments can create the right environment for the next generation of investors who will bring long term value to our economy,” he added.

Mohamed Hasan Al Qemzi, CEO, Higher Corporation for Specialized Economic Zones (ZonesCorp), added: “The open economic policies adopted by the UAE, and its contribution in harmonizing and integrating the roles played by local governments to create a knowledge-based and diversified economy in an ideal business environment, are some of the key incentives that helped attracting foreign investments to the country.”

“Providing integrated infrastructure, adopting best international practices, improving proper legislations and offering various facilities and services to investors have helped them establish successful businesses in the country which significantly contributed to supporting the national economy and enhancing the country’s position regionally and globally as an attractive destination for investment,” Al Qemzi concluded. – TradeArabia News Service