ABU DHABI, March 11 (Xinhua) -- The cabinet of the United Arab Emirates (UAE) on Monday approved the National Investment Strategy 2031, the Emirates News Agency reported.

The strategy aims to double the UAE's annual foreign direct investment (FDI) inflows from 112 billion UAE dirhams (30.5 billion U.S. dollars) in 2023 to 240 billion UAE dirhams (65.35 billlion dollars) by 2031 and expand total FDI stock to 2.2 trillion UAE dirhams (599 billion dollars).

Targeting five key sectors -- namely industry, logistics, financial services, renewable energy and information technology, the strategy encompasses 12 new programs and 30 initiatives aimed at transforming the UAE into a global investment hub and enhancing economic diversification, the report said.

The cabinet also approved the National Digital Economy Strategy, which seeks to double the digital economy's contribution to GDP from 9.7 percent to 19.4 percent, it added.

UAE's Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum emphasized the country's commitment to expanding global markets, attracting investments and fostering a business-friendly environment. Enditem

Related

Go to Forum >>0 Comment(s)