It includes the "10 x 10" program, a unified investment portal, and the Emirates Investment Summit.
3 initiatives to enhance the country's ability to deal with global economic variables
Abdullah bin Touq: "Through government efforts, we focused on anticipating the future and setting proactive plans."
Within the "50 projects", the UAE government launched three initiatives aimed at enhancing the country's ability to deal with the changes taking place in the global economy, and consolidating its leading position as one of the world's most attractive countries for foreign direct investment, within the framework of the country's strategic visions and its accelerated preparations to enter the next fifty years. With a renewed thinking that reflects the ambition of the Emirates and achieves prosperity and prosperity for the current and future Emirati generations.
Economy Minister Abdullah bin Touq Al-Marri said: “Through government efforts to foresee the future and develop proactive plans, we have focused on a number of vital sectors that will lead our economy decades forward, including artificial intelligence, innovation, digital and circular economy, advanced industries, space, agriculture and health care, because of the potential they contain. We look positively and optimistically at the ability of new initiatives to increase and diversify opportunities in these sectors, in order to advance the development process during the next fifty years, and contribute to achieving the aspirations of the state.”
The initiatives aim to support the diversification and sustainability of the national economy and enhance its competitiveness by developing an integrated strategy to attract investments in promising vital sectors, adopting innovative economic models that accommodate new global trends, as well as enhancing the benefit of the active investment environment in the country, especially following the qualitative decisions issued by the government The Emirates in order to allow full ownership of companies and projects by the foreign investor in all sectors and activities, with the exception of sectors with strategic impact.
Among the initiatives launched by the UAE government within the "50 projects" is the "10 x 10" program, which aims to achieve an annual increase in the country's exports by 10%, and in 10 new and emerging global markets: China, the United Kingdom, the Netherlands, Italy, Russia, Poland, Luxembourg, Australia, New Zealand and Indonesia.
The initiative will work to achieve a growth of 14% in cumulative foreign direct investment abroad by 2030, and the growth of foreign direct investment directed to the targeted countries to 24% in 2030, and through an integrated system of incentives and benefits that support attracting investment to the state, and highlights the investment environment in the UAE United Arab Emirates.
Among these initiatives is also the launch of the (invest.ae) portal, the unified investment portal, which is already one of the economic assets in the country and presents investment opportunities in all the emirates of the country, as an umbrella that brings together 14 economic entities in the Emirates, and includes information on the investment environment in the country, and success stories of entrepreneurs Establishing companies, opening bank accounts, and other advantages that make this site an economic asset for the state.
The UAE government also announced the Emirates Investment Summit, which will be held in the first quarter of 2022, and will bring together investment funds with government agencies and the private sector, to be a summit that brings together the most ambitious leaders and investors in the world, to launch ideas, create opportunities and invest in the future, and build sustainable partnerships between governments and investors. It aims to attract 550 billion dirhams of foreign direct investment into the country over the next nine years.
The initiatives are based on integrated mechanisms to study the movement of emerging markets and the attendant opportunities or risks, in addition to taking into consideration the climate factor and the scarcity of natural resources, which in turn drive several sectors, including climate solutions, clean and renewable energy technologies and the circular economy.
The initiatives defined the future roadmap for foreign investment into the country, through the vision of the Ministry of Economy and in line with the plans of the competent local authorities.
Abdullah bin Touq: "Through government efforts, we focused on anticipating the future and setting proactive plans."
10×10 program:
“10 x 10” is an economic program to develop the country’s exports that aims to achieve:
• An annual increase in the country's exports by 10% in 10 international markets.
• 14% growth in cumulative foreign direct investment abroad by 2030.
• Growth in foreign direct investment directed to the targeted countries to 24% in 2030.
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