With its pro-business policies, the United Arab Emirates attracted into its stable economy, the every fifth US dollar of the foreign direct investment that was invested in the oil-rich Gulf region last year.
Mohammed Omar Abdullah undersecretary of Department of Economic Development Abu Dhabi reveal this while attributing to a recent World Bank figure that put the foreign direct investment in the UAE in 2011 at $1.8 billion or 21 per cent of the total $8.64 billion that were invested by the foreign investors in the entire region.
“This encourages us to create better climate to increase these figures in the years to come by utilising the potential and competitive privileges which the UAE enjoys”, the undersecretary said, in a statement issued on the occasion of The Fifth Global Investment Forum which the DEB Abu Dhabi will organise in association with the Institutional Investor magazine on March 21 at Abu Dhabi’s Emirates Palace.
More than 300 delegates from over 20 countries have registered, so far. The Forum provides companies from around the world with an opportunity to meet the UAE’s key decision makers and hear about unique prospects being created for international businesses in Abu Dhabi.
Abdullah added that the total volume of foreign non-oil trade in Abu Dhabi grew 27.7 per cent to Dh139.4 billion in the year 2011 as investment in the foreign trade sector is in continuous rise, which ensures a prestigious competitive ranking and broadens the range of FDI.
Mohammed Omar Abdullah the investment forum reflects the UAE government’s keenness to consolidate investment opportunities in the country.
“The forum is also to emphasize the government’s eagerness to continue with implementing major developmental projects that ensure proper opportunities for key international firms and investors to increase their investment shares in the country and attract foreign capitals,” he said.
The undersecretary said that the continual success of such a major event over the past years reflect the UAE’s genuine interest in increasing the volume of foreign investments in the country in spite of the hard regional and international economic circumstances. “This, however, requires putting in more efforts in order to reinforce the standing of the UAE, in general, and Abu Dhabi in particular, as an international investment center able to compete internationally in the areas of trade and investment.”, the undersecretary added. Mahmoud Ibraheem Al Mahmood chairman of ADS Securities said Abu Dhabi has as become a centre for business in the Middle East due to its stability, liquidity and ideal location.?