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ADCCI invites German firms to invest in UAE

ABU DHABI — Chairman Abu Dhabi Chamber of Commerce and Industry (ADCCI) Engr. Saleh Salem bin Omair Al Shamsi, yesterday called on the German industrialists and businessmen to invest heavily in the UAE and take benefits from the highly favourable investment climate prevailing in the country.

In his presentation on the Investment Opportunities and the Investment Climate in the UAE at the first session of the UAE German Business forum which started in Munich Al Shamsi said that it was right time for German investors and businessmen to invest in various sectors of UAE and join the long list of multinational companies, which have already established their regional activities in the UAE because of its strategic position.

A strong delegation from the UAE is taking part in the Forum.

"We have openings for investors in all sectors of the economy. Our investments in the last decade exceeded $400 billion and this has opened the gate of investment opportunities without any strings attached to them. We have no tax on personal or corporate income and have very low rate of customs tariff. We also have one of the best infrastructure facilities in the world, with modern air and seaports, communications system and road network. There is also no restriction on the repatriation of profit or the capital," he said.

Al Sahmsi said that it will be beneficial for German industrialists and businessmen to locate part of the production process in the UAE because of its strategic position with easy access to the markets in Asia, Africa and other countries in the Gulf and the Middle with over 1.5 billion consumers.

The UAE has also earned top position in international credit rating in 2005, which makes investment in the UAE safe.