UAE is region's major investment magnet

The UAE is one of the major magnet of foreign investment in the region, H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade said today.

By (Wam)

Published: Wed 20 Jan 2010, 7:16 PM

Last updated: Mon 6 Apr 2015, 2:34 PM

“Economic diversification, flexible economic and investment legislations, policy of encouragement of foreign investment, free competition and advanced education systems have allied together to make the UAE one of the key destination for foreign direct investment and global capital,”Sheikha Lubna said during talks today with visiting Armenia Deputy Prime Minister Armen Gevorgyan.

She said the UAE was keen to develop commercial and investment cooperation with Armenia. She added the two countries need to communicate with each other to exchange development experiences and experiments and spur the private sector to tap available investment opportunities so as to boost economic development.

For his part, the Armenian minister said his country was determined to enhance its bilateral cooperation with the UAE in various fields.

He said the UAE is among the top priorities of the Armenian government plans to expand cooperation with in the Gulf region given its financial, business and economic weight and potentials and global competitive edge.

The Armenian government, he affirmed, was committed to provide the adequate legal framework to attract foreign investment

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