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Lubna Reviews UAE’s Economic Advantages, Investment Opportunities with French Delegation

Speaking before a group that included top executives from major French firms, Lubna stated that the UAE has become a hub for international companies, providing an integrated package of incentives and infrastructure which underline the perfect business conditions, high competitiveness and unique investment opportunities existing in the local markets. She pointed out that the Emirates can open up opportunities to other parts of the region and facilitate excellent business and investment into various sectors.

Lubna added that the UAE hosts many exhibitions and international fairs covering a number of specialised sectors such as renewable energy and technology annually. She explained that these offer diverse opportunities within and outside of the UAE and reflect the UAE’s status as a gateway to investment and economic development in the region. She also noted that the growing number of such events affirm confidence in the UAE economy and its ability to achieve constant growth.

The Foreign Trade Minister also pointed out that knowledge and innovation are gaining greater emphasis within the UAE economy as the country pursues higher levels of competitiveness and better business conditions. She said that the Emirates is committed to keep up with advanced technologies in various fields, particularly in industry and renewable energy.

Lubna underlined the country’s enhanced prioritisation of non-oil sectors, particularly industry, renewable energy, and tourism, as income generators. She stated that these contributed around 66 per cent to the national GDP in 2009. She added that investment, economic and trade indices all reflect the resilience of the UAE economy against the global financial crisis.

The UAE official clarified that the country’s open climate and strong resolve despite the global downturn have helped boost strategic partnerships and economic diversification, resulting in more investment opportunities and the mitigation of investment risks. She said that these appeal strongly to the global markets and make the UAE an ideal investment haven.

Moreover, she said that investment opportunities into technology and renewable energy are available for small and medium size businesses. In addition, she stated that although the UAE is a major oil producer and exporter, it also figures prominently in renewable energy development as part of its commitment to further diversifying the national economy and generating clean energy that can satisfy the growing demands of economic growth.

UAE has 26 free zones in vital sectors such as industry, technology and energy, and that they all offer competitive services and advanced facilities. She pointed out that that the Emirates leads the region’s construction materials and heavy equipment sectors and competes competitively in other industries within the international markets.

business@khaleejtimes.com