Hamdan Bin Mohammed Calls For Accelerating National Efforts To Strengthen UAE’s Global Investment Hub Position

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has urged for increased national efforts to enhance the UAE's position as a leading global investment hub. He aims to make it a prime destination for entrepreneurs and emerging companies in future economy sectors.

During a meeting with Mohamed Hassan Alsuwaidi, Minister of Investment, Sheikh Hamdan stressed the importance of following the leadership's directives and achieving the 'We the UAE 2031' vision. This vision aims to place the UAE at the forefront of the global economy.

The meeting, attended by Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, focused on strengthening the UAE’s status as an investment leader. Discussions highlighted initiatives to boost competitiveness for investors and international companies.

Sheikh Hamdan was briefed on efforts by the Ministry of Investment to attract foreign direct investment (FDI) in key sectors crucial to maintaining the UAE's global competitiveness. These initiatives are vital for sustaining economic growth and diversification.

Sheikh Hamdan emphasised leveraging innovation to promote sustainable development and strengthen the national economy. He highlighted investing in Emirati talent by enhancing their skills and capabilities to drive growth and economic diversification.

"Continued cooperation between government entities and investors is crucial to opening new pathways for sustainable growth," said Sheikh Hamdan. He reiterated that this collaboration is essential for realising the leadership's vision of making the UAE a top global trade and investment hub.

Creating a Secure Investment Environment

Fostering a secure investment environment is key to encouraging foreign investors to expand their ventures in the UAE. This involves implementing flexible policies that support growth, build investor confidence, provide advanced infrastructure, and offer an enabling legislative framework.

The UAE’s strategic efforts have yielded significant results. According to UNCTAD's Global FDI Report 2024, inward FDI in 2023 reached US$30.688 billion (AED112.6 billion), up from US$22.737 billion (AED83.5 billion) in 2022—a nearly 35 percent increase—ranking second globally in FDI inflows in 2023.

With inputs from WAM