Arab News, Tuesday, Sep 7, 2021 | Muharram 30, 1443
UAE economy to grow 10% over the next decade, says Minister
Emirates:
The UAE economy, built over a
period of 50 years, has the potential for growth of more than 10 percent in the
next ten years, Minister of Economy Abdulla bin Touq said.
The country "provided investors with flexible
legislation, proactive steps and stimulus packages that amounted to 100 billion
Emirati dirhams ($27.2 billion), in addition to addressing the situation to
attract investment," bin Touq said.
"There are legislations launched in the last
stage, such as 100 percent foreign ownership to attract foreign investments and
open foreign horizons for the UAE's exports to the world," he said during an
interview with Al Arabiya.
Among the most prominent efforts "presented by the
UAE were commercial transactions and the Companies Law, which approved 100
percent foreign ownership of companies," he explained.
The UAE's hosting of the Future Investments Summit
will bring together minds from government agencies, businessmen, investment
funds and academics to focus on what are the future investments in the next
fifty years, he added.