Published On: Fri, Oct 17th, 2014

Al Mansouri: UAE Economy is most integrated into global economy

Sultan bin Saeed Al Mansouri, U.A.E.'s Minister of Economy

Sultan bin Saeed Al Mansouri, U.A.E.’s Minister of Economy

The U.A.E.’s Minister of Economy, Sultan bin Saeed Al Mansouri, said the World Investment Forum (WIF), organised by the United Nations Conference on Trade and Development (UNCTAD) during its fourth session in Geneva, was keen to focus primarily on the issue of ensuring viability of investments in various sectors, something that is of interest to all countries now.

Al Mansouri is heading the U.A.E.’s delegation participating in the World Investment Forum (WIF), which is being held at The Palace of Nations in Geneva, Switzerland, from 13th -16th of October.

In an interview with the Emirates News Agency (WAM) on the sidelines of his participation in the Forum, Al Mansouri noted that the major challenge was how to harmonise various government policies in terms of sustainability, in various fields such as economic, educational or environmental.

Al Mansouri said that the U.A.E., in particular, has a clear strategy at the federal level as well as at the level of the local governments, thanks to the initiatives of the Cabinet. One example was the strategy drafted for the year 2021, which set out clear principles for various sectors in the economic sphere, in addition to health, education and pursuit of innovation.

Al Mansouri said that there are other initiatives at the local level, whether in Abu Dhabi or Dubai Emirate of Sharjah, and all of them were in line with the Federal Initiative, which was the major initiative.

He stressed that among the Arab economies, the U.A.E.’s economy is the one most integrated into the global economy, a factor of great importance in this context since the U.A.E. has a distinct infrastructure, laws and regulations that protect the investors. Also, the U.A.E. has agreements with various countries to accord protection to investments and check against double taxation. People hailing from more than 200 nationalities live in the country in a harmonious way and enjoy equality of treatment.

Al Mansouri said the fact that the U.A.E. is among the countries figuring at the top when it comes to happiness index is enough evidence of its credentials.

The Minister added that the Forum brought together decision-makers at the political level and even those in the private sector, including some major global companies, whether foreign or Arab.

Source : WAM News Agency for United Arab Emirates

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