The Annual Investment Meeting, an initiative by the UAE Ministry of Economy, is being held this week in Dubai with the theme Mapping the Future of FDI: Enriching World Economies through Digital Globalisation. The meeting is being held in the presence of the various heads of state and governments to discuss the investment opportunities and the challenges in more than 140 countries. Nigerian President Muhammadu Buhari is the guest of honour at the event.
Dawood Al Shezawi, CEO of Annual Investment Organising Committee, said: “AIM 2019 is a vital platform to conduct dialogue and it is opening at a crucial time. For the 9th edition, we are focusing on the impact of industry technologies, smart cities, sustainable economic practices, renewables, and startups on international investments and trade. This year’s theme is anchored on the fact that game-changing digital innovations play a visible role in attracting foreign investors.”
In 2017, the UAE’s foreign direct investments were worth $10.35 billion, which represents 40.6% of the total flow into West Asia. The figures were released in a joint report by the UAE Ministry of Economy and the Annual Investment Meeting.
The country’s investment landscape is supported by factors including:
- Easy transfer of profits and revenues without fees
- Efficient legal and political systems
- Organised laws to protect foreign capital
- Competitive legislative reforms to boost investor confidence
- Low tariff rates between zero and five percent for goods
H.E. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, said: “With the UAE adopting the best policies and economic trends to keep abreast of changes, the country is all set consolidate its position as a global destination for money and business. The UAE has recently launched a series of initiatives to stimulate economic growth, which have been aimed at strengthening efforts to attract foreign direct investment, raise financial and economic efficiency, stimulate investment, stimulate local production, improve the business environment and make it more efficient and attractive.
“Some of the most important initiatives include the issuance of new foreign investment law, granting investors ten-year residence visas for themselves and all members of their families, granting ten-year residence visas for specialised competencies including medical, scientific, research and technical fields and granting 100% foreign ownership in technology, outer space, renewable energy and artificial intelligence, among other sectors under consideration.”