Hussam Abdulnab (Dubai)
In the era of the late Sheikh Khalifa bin Zayed Al Nahyan, may God have mercy on him, the UAE has achieved unprecedented success in attracting foreign direct investment, so much so that international institutions rank it as one of the most important. global investments. Destinations for investors.
The indicators achieved in the field show the success of the last strategic vision, which was focused on the interest in the foreign direct investment sector; Because it is in line with the state guideline for building a sustainable and diversified knowledge-based economy, and this has given rise to the ingredients, elements and opportunities for successful foreign direct investment.
The late Sheikh Khalifa bin Zayed Al Nahyan, from the day he took office, sought to develop an integrated work system that would make the UAE an investment environment for investors from all over the world and countries, providing all the ingredients for success. Consequently, the UAE has become a global investment environment in which it brings together all the elements of stability and resilience and seeks to increase the attractiveness of the country as the best place for investment, growth and global prosperity.
The ingredients for success included a number of key pillars, most notably the exemplary government-private sector partnership, which allowed investors to share their ideas and suggestions with government and government officials and put them into action. And develop a flexible legislative framework that continues global change, as we strive to discover, attract and develop the best talent and skills in a variety of areas.
One of the most important successes of the late Sheikh Khalifa bin Zayed Al Nahyan’s era was the country’s guidance and aspiration to open up and diversify the economy and create greater opportunities for growth, partnership and innovation, which he provided to investors. Large and emerging companies with more opportunities and room for success in a country that from day one wanted to keep up with global change and achieve it quickly with well-thought-out solutions to always be a partner that can add real value. Tangible positive impact, whether for a foreign or domestic investor.
The most attractive countries to invest in
Currently, the UAE is among the top 20 countries in the world in terms of attracting foreign direct investment, and in 2021 it increased by 4% to 76 billion dirhams compared to 2020. It is based on a more flexible, sustainable and sustainable model. open in global markets and keeps up with future trends and technologies.
The Ministry of Economy said that in the last ten years, from 2011 to 2020, the number of foreign companies with authorized branches in the country increased by 52%. At the end of 2020, the total number of branches of foreign companies operating in the country amounted to 2,577, registered and authorized by the Ministry of Economy, belonging to more than 114 nationalities.
Leading the number of foreign companies registered in the country are British companies, with a total of 11.6% of these companies, followed by Americans with 8.3%, followed by Indians with 5.5%. South Korean companies followed with 5.1%, followed by French companies with 4%. These companies invest in projects and economic activities that cover several vital sectors of the country and contribute to sustaining the diversity and competitiveness of the national economy.
The ministry highlighted that today the business environment in the United Arab Emirates is one of the global trends that attracts foreign companies, as it has achieved outstanding leadership in several global indicators, ranking first in the Arab world, in the region and 16th in the world. The Ease of Doing Business Index 2020 e reached the top 10 countries in the world with 16 indicators related to infrastructure development in 2020 and ranked first in the Global Entrepreneurship Index regionally and fourth globally in 2020.
The increase in the number of foreign companies during the last decade is a practical translation of the continuous efforts made by the State to provide an attractive business environment for foreign companies and to attract foreign direct investment through the continuous development of legislative and regulatory regulations. Support economic activity, facilitating business in the country and reducing its costs, developing infrastructure and digital services for companies, providing incentives and tools that enhance their success, as well as developing integrated strategies and initiatives that promote business growth. And the companies that operate in the country and allow them to expand and reach regional and global markets.
The growing number of foreign companies operating in the country reflects the global business community’s confidence in its investment climate and confirms the strength of the UAE’s approach to providing an open and flexible economic environment and developing its components. Leading global center for finance, business, trade and investment.
investment world location
In the era of the late Sheikh Khalifa bin Zayed Al Nahyan, may God have mercy on him, the UAE’s position has been strengthened as a global hub to attract startups to become an investment location for startups from all over the world. establishment. . The differentiated infrastructure that facilitates market access and financing also supports these companies through fairs, allowing them to showcase their products on global and regional platforms and encouraging national companies to share their purchases. of these companies. Currently, small and medium-sized companies play a fundamental and very important role in supporting the economic growth and diversification of the UAE, as they represent more than 94% of the total number of companies operating in the country and create more than 86 jobs. worked. opportunities. % of employees in the private sector and 40% of the total national income of the UAE.
In turn, José Viñales, Chairman of the Board and Global Director of Standard Chartered Bank Group, highlighted that the UAE has managed to redesign its economy in the last two decades as part of its ambitious diversification plans. The economy goes beyond the hydrocarbon sector and the country has successfully worked to establish its position as a major commercial gateway, both regionally and globally.
He said that the UAE has managed over the years to provide an advanced infrastructure consisting of 10 civil airports, 105 shipping companies and 12 seaports and commercial ports that can handle more than 17 million tons and a cargo capacity of more than 80 million tons per year. .
Noting that the UAE offers unique value to investors and companies as part of a strategic plan developed by the state many years ago, noting that the UAE offers a favorable business environment with vital facilities and differentiated infrastructure. In addition to professional experience and personal services, which gives the country a unique advantage over other countries in the world.
Viñales showed recent health, noting that the UAE tops global indicators measuring economic productivity and the ease of doing business, and that it leads regionally and globally in logistics, transport and communications. It is considered the most advanced in the region. In addition to the strategic location that makes the Emirates a global connection, it is possible to reach global markets with more than five billion people of the Emirates through flights that do not exceed eight hours. .
Yogesh Khirajan, investment research analyst at Century Financial, believes that the UAE, in the era of the late Sheikh Khalifa bin Zayed Al Nahyan, has always been known as a country with a strong economy and never shy away from setting new records.
He said the UAE has benefited from its connection to half the world’s population and its geographic location, which is just a few hours’ flight from Europe, North America, Southeast Asia and Africa.
He stressed that the country’s successful plans from the beginning have focused on attracting innovative minds to the UAE, hence the secret of the country’s distinction, as it has become one of the most important countries to acquire the skills, the mind and the experience that characterize it. . With a multicultural nature that has created the ideal environment to attract investors from all over the world, in addition, the country occupies a prominent place in the standards of economic, social and health stability within the reach of the population.
Khairajan concluded by emphasizing that the country’s leaders’ proactive behavior in coming up with visual plans and implementing them in a timely manner created a unique image of the country that is difficult to compare and evidence in history as the UAE has continued to develop. Better every decade.
Michael Waters, associate professor at Heriot-Watt University in Dubai, believes that the UAE has become one of the most important ideal markets to invest in due to a series of positive indicators and effective reforms and measures adopted by the country. Leadership in the last few decades, which has continually made the UAE a friendly environment.
As for Seven Capital CEO Mohamed Shaheen, he explained that the UAE achieved the ranking as one of the most important countries in providing a favorable environment for investors due to its economy among the open economies of the world and its presence. A favorable field for many specialized businesses and a rapidly growing economy, the country aims to present itself as one of the best destinations for foreign direct investment (FDI).
He highlighted that economic and political stability, during which the country seeks to diversify its sources of income and rank it among the most visited countries, as well as the country’s progress in global competitiveness indicators, are factors that have made the UAE a desirable home. . For many. Foreign investors and international companies for many years.
Source: Al Ittihad
I am Cathy Jenkins, an experienced news writer and author at News Unrolled. I specialize in opinion pieces and the trending section. With over 7 years of experience in the industry, I have become well-versed in crafting stories that are both informative and engaging.