“Investment Index Team” is looking at ways to enhance efforts to attract foreign direct investment

23-02-2019 Media in\ Dubai
The Executive Panel of the National Index discussed “Net Foreign Investment Flows of GDP” during its sixth meeting in Dubai, ways to enhance national efforts to attract foreign direct investment.
The meeting, which was chaired by Juma Mohammed Al-Kait, Assistant Undersecretary for the Foreign Trade Sector at the Ministry of Economy, discussed a number of items and topics that would support national efforts to increase the country’s attractiveness to foreign direct investment and increase its contribution to the country’s GDP. The actual result of the index and the growth rates achieved Compared with previous years. The Meeting also addressed the importance of issuing the Foreign Direct Investment Act and its expected role in the development of foreign investment flows received during the next phase.
The participants reviewed the most prominent efforts and programs launched during the past period in terms of enhancing the investment environment in the country and its impact on achieving the national target of foreign direct investment and coordination on the plan of initiatives scheduled for 2019 at the federal level and at the level of each emirate to increase incentives and facilities that encourage investment and the definition of foreign investors The advantages of the business environment in the country, as well as intensify efforts to promote investment opportunities in the country.
“Foreign direct investment is a key focus of the UAE’s vision for economic development based on diversity, innovation and knowledge, especially in the UAE’s position on the regional and global investment map and the continued growth in the total inflow of investment into the country on an annual basis.
He added that the investment climate in the country witnessed during the last stage very important developments. The most prominent of these was the issuance of the Foreign Direct Investment Law, which represents a pivotal point in enhancing the attractiveness of the state to foreign investors and expanding the system of incentives and facilities offered to them in a certain group of sectors, He pointed out that the UAE has achieved significant progress in its regional and global ranking on the FDI ratio of GDP, ranking 2nd in the Middle East and 26 in the world.
He stressed that the executive team of FDI index plays an important role in coordinating and motivating national efforts to achieve the national target of increasing the contribution of foreign direct investment to 5% of the GDP of the State, as well as follow-up and evaluation of initiatives implemented in this regard, Which will accelerate the steps aimed at raising the competitiveness of the State in the field of investment during the next phase, especially in light of the challenges and changes in the movement of investments at the global level.
The meeting was attended by Hind Alwaha, Director of the Investment Department at the Ministry of Economy, and Dr. Matar Al Ali, Director of the Department of Analysis and Trade Information at the Ministry, along with the members of the team who represent a number of local and federal government agencies, the General Secretariat of the Council of Ministers, the Federal Authority for Competitiveness and Statistics, And a number of economic development departments in the country.