Why UAE fastest-growing investment destination?
From its strategic location at global crossroads and strong financial reserves and sovereign wealth funds to invest in major development and infrastructure projects, the UAE has been able to create a modern, dynamic and diverse economy in only 50 years.
It is, though, the desire to keep pushing forward and to keep extending the nation’s horizons that have ensured the UAE remains a global beacon for talent, innovation, and endeavor, and a model environment for investment and entrepreneurship.
The UAE, for instance, ranked first regionally and ninth globally in the Global Competitiveness Report 2021 issued by the Global Competitiveness Center, and ranked first globally in 22 indicators. In a staggeringly short time, it has managed to redefine the limits of the possible.
The priority for the next 50 years is to continue accelerating economic development and unlocking opportunity, especially by encouraging small and medium-sized enterprises and instilling a culture of entrepreneurship throughout the country.
A global magnet for capital and talent
One of the key pillars of the UAE’s ambitions is to attract FDI in key sectors, particularly those associated with the knowledge economy and advanced technologies. Artificial intelligence, the Internet of Things, Blockchain, innovative medical technologies, high-speed transportation, augmented virtual reality, robotics, self-driving cars, and renewable energy are all fields in which the UAE wants to excel in the immediate term.
Solid economy despite adversities
The UAE’s ability to recover from the pandemic owes much to the prompt, nationwide action taken in March 2020, and the efficacy of sanitation, lockdown, and social distancing measures deployed in the weeks and months that followed. In economic terms, the Central Bank’s comprehensive support was equally crucial, contributing some Dh100 billion and a range of support packages to the economy.
An ideal industrial base
The UAE has undergone a continuous transformation to create the ideal platform for economic success in a rapidly evolving world. In recent years, this has included investment in its digital infrastructure, which ranks first in the Arab world, and legislative changes to create the most competitive regulatory and procedural umbrella.