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UAE plans initiative to boost small firms

The UAE is ranked first recipient of FDI in Arab countries and 12th top recipient globally

The UAE is planning to introduce effective programmes to support and encourage small and medium enterprises (SMEs) and mediate the integration of big Multi National Corporations with SME, Abdullah Bin Ahmad Al Saleh, Undersecretary for Foreign Trade and Industry Affairs, Ministry of Economy said on Wednesday.

Sharjah FDI Forum, where the fourth Industrial Revolution was the central theme of the conference, was attended by more than 1,500 corporate business leaders, public sector representatives and government officials from the region and beyond attended the forum to find out about the latest trends and developments affecting the future of investment in the UAE, with the numbers participating a significant increase on last year’s event. They also discussed the ways and means through which the UAE and Sharjah can attract more FDI. Advertisement

“The government must play a major role in the national march towards increasing our FDI attractiveness,” Al Saleh said on the closing day of the Sharjah FDI forum.

“The UAE is investing heavily in research and development and public-private partnerships, which highlight a strong and vibrant national economy committed to increasing competitiveness at an international level,” he added.

The UAE is ranked first among recipients of FDI in Arab countries and 12th top recipient globally according to the World Investment Report 2017 by United Nations’ Conference on Trade and Development.

FDI inflows into the country grew by 2.2 per cent in 2016 to hit $9 billion, with total inflows of roughly $16 billion in 2016.

 

“A clear political and cultural vision that supports FDI’s role in development, flexible regulations, smart government services, protection from corruption, and allowing a free flow of capital, human resource, goods and services were among the essential components for FDI attractiveness,” Al Saleh said.

Reference to Gulf News published on:September 20, 2017