Hamdan bin Mohammed Discusses Investment Strategies with UAE Minister

Photo : Dubai Government Media Office

In a recent meeting with the UAE Minister of Investment, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has called for a heightened national effort to strengthen the UAE’s position as a premier global investment hub. The meeting aimed to align strategies with the UAE’s 'We the UAE 2031' vision, which seeks to elevate the nation within the global economy.

Sheikh Hamdan met with His Excellency Mohammed bin Hassan Alsuwaidi, the UAE Minister of Investment, alongside His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications. The discussions focused on key initiatives to enhance the competitiveness of the UAE for investors, entrepreneurs, and international companies.

During the meeting, Sheikh Hamdan was updated on the ministry’s ongoing efforts to promote foreign direct investment (FDI) in critical sectors that underpin the UAE’s global competitiveness. He emphasized the importance of leveraging innovation as a driving force for sustainable economic development and highlighted the necessity of investing in Emirati talent. By developing local skills and capabilities, Sheikh Hamdan believes the UAE can significantly contribute to growth and diversification.

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Sheikh Hamdan reiterated that continued collaboration between government entities and private investors is essential to unlocking new avenues for sustainable growth. He stressed the importance of creating a secure investment environment that encourages foreign investors to expand their operations within the UAE. This involves implementing flexible and attractive policies that enhance growth prospects and bolster investor confidence, along with providing state-of-the-art infrastructure and a supportive legislative framework.

The UAE's strategic initiatives to attract investment have already yielded significant results. According to UNCTAD's Global FDI Report 2024, the UAE received $30.688 billion (AED 112.6 billion) in inward FDI in 2023, a remarkable increase of nearly 35% from $22.737 billion (AED 83.5 billion) in 2022. This impressive growth has positioned the UAE as the second-largest recipient of FDI inflows globally for the year.

As the UAE continues to foster its reputation as a leading destination for investment, Sheikh Hamdan’s calls for accelerated efforts and innovation are vital in solidifying the nation’s future as a thriving global economic powerhouse.

Oct. 25, 2024 11:33 a.m. 557

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