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United Arab Emirates ,,
The Ministry of Foreign Trade has issued a promotional book in the English language on investment in the UAE. Entitled “Why the Emirates? Maximizing Opportunities”, the book is geared towards the foreign investor and is considered an information portal into the UAE, the components of its national economy, the available investment opportunities in its markets, its promising economic sectors and its regulatory economic and investment legislations and rules. The book, which has been fully sponsored by the Abu Dhabi MASDAR corporation for future energy, tries to answer the question posed in its title through an array of questions and inquiries that were gathered by a workgroup from the Ministry of Foreign Trade during their meetings with foreign investors and economic delegations who visited the country, or through meetings conducted abroad. The book introduces the UAE, its economic foundations and multi investment opportunities, using modern techniques that are supported by explanatory graphs and tables, and in a way that is compatible with the intellect and investment direction of foreign investors. Sheikah Lubna bint Khalid Al Qasimi, the Minister of Foreign trade, said that the book’s title, “Why the Emirates?” is the most important question on the minds of foreign investors who would think of establishing any investment project in the UAE or would think of working or living in it. She explained: Although answering this question requires volumes and books, considering the qualitative leaps and distinguished mega-developments which the country witnessed throughout the past four decades through its wise leadership and the country’s strategic plans that have given the UAE an international economic competitive edge, the “Why the Emirates?” book aims to answer the question through explaining the competitive constituents of the UAE’s economy and the investment attractiveness elements it enjoys, which are superior to those found in many other economically advanced world countries. Sheikha Lubna explained that the economic strategy of the UAE, and its leadership, throughout the past decades has succeeded in transforming the country into a locale with an internationally ideal investment climate, and in making it the best place for global investors and economic entities to work and live in. She added that the factors and elements that distinguish the UAE from other economically advanced countries are plentiful and are resembled primarily in the ambitious outlook of the country’s wise leadership towards excellence and its keenness on adopting modern and practical practices in order to increase the competitiveness of the national economy in all sectors and fields. She added that the unique geographic location of the UAE, its flexible economic legislations, easy investment procedures, and its multi-cultural environment that brings together more than 180 countries, are also some of those factors. Sheikha Lubna said that those factors and others, have contributed towards confronting regional and international challenges, and have limited the effects of the global financial crisis, which has inflicted the world recently. She indicated that the book introduces the foreign investor and those following the country’s economy to the UAE’s history and journey in building a modern contemporary state, especially in economic, social and political fields, pointing out that the book provides comprehensive and authenticated information about the country’s leadership’s wise vision towards excellence and boosting competitiveness throughout the past four years and the and the country’s strategy of building an advanced national economy and society that holds to its roots and traditions, and aspires to follow global scientific and technological developments. She added that the UAE’s journey of success in all fields whether economic, social, or political, over the past decades constitutes the century’s miracle, pointing out that the UAE succeeded during a record time to transform its economy from one that relied primarily on oil as the only main source of national income (90%) to an economy that enjoys qualitative and unique economic diversity where oil contribution to GDP last year dropped to around 29% while the contribution of non-oil sectors was 71%. She affirmed that the UAE succeeded in utilizing its oil resources strategically through constructing an advanced infrastructure and a diverse and advanced economy that relies on industrial and highly developed sectors such as renewable energy and other essential sectors, while currently executing strategic and gigantic projects in various sectors. Through its 146 pages, the book highlights, using evidence, data and tables, the main conditions and factors that make the UAE the favorite investment destination for foreign investors and businessmen. The book points out that the UAE possesses an attractive business climate that has contributed towards the attraction of direct foreign investments worth over $34 billion in 2007, while private investment substantially increased in 2009 going up by 360% in comparison with 2005 levels, reaching $67 billion, thus constituting 27% of overall demand in the state, which reflects the highly attractive investment and business climate in the UAE. The book also highlights the UAE’s advanced infrastructure and high standard of living in addition to its strong regional and global business and commercial ties that saw it conduct non-oil trade worth 660 billion Dirhams with its trade partners, underlining its great commercial openness. This book is one of many books released by the Ministry of Foreign Trade as part of its plans to increase awareness about the state and its attractive investment climate at foreign and local business circles. | |||
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