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Friday, May 27, 2022
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UAE targets doubling FDI in ‘next phase of growth’ as it launches 50 new projects

Economic and developmental projects will establish UAE’s regional and international status as a major economic hub

HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and the Deputy Supreme Commander of the UAE Armed Forces, have announced the launch of a new series of national strategic projects that will lay the foundations for a new era of growth for the UAE – both domestically and internationally.

According to a WAM report, the programme of economic and developmental projects are designed to establish the UAE’s regional and international status as a major economic hub and a champion of excellence, with a competitive business environment that will attract investors, innovators, entrepreneurs and talents from across the world.

The comprehensive projects will build on the UAE’s successes of the past 50 years and chart an ambitious path for the next 50, it added.

His Highness Sheikh Mohammed bin Rashid Al Maktoum tweeted: “The UAE is starting a new season in a different way this year. We will announce a series of 50 significant economic projects starting from September 5 to lead the next phase of growth.”

He added, “the UAE does not wait for the future, it shapes its own future.”

The new projects aim to advance the UAE’s economy, a top national priority, to ensure a decent life for citizens and residents, double the Foreign Direct Investment (FDI) and boost the UAE’s status as an incubator for talent and investors from all over the world.

They aim to transform the UAE into a comprehensive hub in all sectors and areas of creativity and innovation, positioning the UAE as a land of opportunities and a destination for those seeking a global testbed of bold and successful ideas.

His Highness Sheikh Mohamed bin Zayed Al Nahyan also tweeted: “50 new national projects will be announced this month, extending our development journey for generations to come. The people of the UAE are encouraged to take part, harnessing their knowledge, creativity and resourcefulness so our nation can seize the opportunities of the future.”

Bringing together all sectors of the society to lead the next era of growth, the projects will cover economic and social development, focusing on entrepreneurship, the digital and circular economies, and applications of the Fourth Industrial Revolution. With these multiple specialisations, the initiative reinforces the goals of economic diversification to broaden the base of the national economy and expand the sources of total income.

All efforts are focused on the goal of fostering a knowledge economy and turning the UAE into a laboratory for bold ideas and ground-breaking projects to boost the UAE as a successful global nation, the report concluded.

 

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Stephen Whitehttps://truckandfleetme.com/
Stephen White was formerly editor of Big Project ME.
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