The Ministry of Economy revealed that the UAE ranked first in the Arab world in its investment attractiveness, with continuous progress at the global level, according to the World Bank, and the international Forbes and Seaworld magazines.
The «Economy», in a report issued yesterday entitled: “The best countries for investment in 2020”, stated that there is a consensus from the three sources that the UAE has achieved this rank in view of the constituents it possesses, and what its government is keen to provide with continuous incentives and benefits. Most notably, the Foreign Investment Law, and the decisions that emerged from it, the most important of which are granting 100% full ownership to the foreign investor, to own in a number of economic activities, according to what the law stipulated in the so-called positive list.
The Ministry of Economy stated that "Forbes" adopted a new method, this year, contrary to the method adopted by a decade ago, when it assumed the rating of the best countries for investment, based on new measurement factors, in the forefront of which are property rights, innovation, taxes, technology, and anti-corruption, Freedom of all kinds includes personal, commercial and monetary freedoms, and investor protection.
She noted that these factors differ from those of other sources of evaluation, which depend in their classifications of countries, and how attractive they are to investment, on factors and indicators based only on measuring the effectiveness of the performance of financial markets, their workforce, their infrastructure, and the size of markets in them, as well as the nature of life, And the political risks to which countries are exposed.
"The Economy" stated that the annual survey, conducted by "Forbes", this year, of the best countries that attract investment, included 153 countries, 25 of which were identified as the best countries to invest, based on a number of factors and specific measures.
The survey showed that the UAE came first in the Arab world, and the best place to invest in the Arab world, given its fertile investment environment, beyond the rest of the rest of the countries at the regional and international levels.
The Ministry pointed out that the UAE exported the Arab countries, based on the decisions adopted by its government that helped lead it and achieve tremendous progress in the field of economic diversification, reducing dependence on oil as a main source of income, and opening the way for foreign investment in various sectors, especially that The State of the Emirates is continuing to enhance its legislative environment, in order to facilitate business facilitation and keep pace with the needs of the modern economy. The Ministry of Economy indicated that 100% foreign ownership is available for specific economic activities within the positive list, which allows full ownership of the foreign investor in specific sectors, as well as the articles of the law that contain more incentives and facilities for investors.
She emphasized that investment is one of the most important pillars of any country's economy, and through which the success or failure of the country's economy is measured, but rather the most effective tool for determining the extent of prosperity or stagnation of a country economically.
The UAE has made tremendous progress in economic diversification, and reducing dependence on oil has been a major source of income.