Page 386 - MOE ENGLISH PR - MAY 2024

5/28/24, 1:05 PM H.E. Bin Touq meets with the Mayor of New York City to explore strengthening of cooperation in new & sustainable economic sectors

H.E. Bin Touq emphasized the UAE's vision to improve economic openness and forge
productive partnerships with international markets. Besides, H.E. highlighted the UAE's

crucial role in supporting major economic blocs that are shaping the global economic

landscape. This is particularly facilitated by the UAE's standing as a competitive economic
hub, which is connected to over 400 cities around the world through direct routes.

Additionally, the UAE has the largest shipping line network that spans 88 ports globally
and benefits from its strategic location as a link between the East and West.

The Minister of Economy apprised Mayor Adams of the trade and investment initiatives

implemented by the UAE under the ‘Projects of the 50’ and the UAE Centennial Plan 2071.
These initiatives are designed to bolster the country's standing on the global economy by

offering attractive investment incentives within the UAE's thriving economic landscape.
The comprehensive development of economic legislation, which includes the granting of

100 per cent foreign ownership of companies, flexible tax policies, and simplified

processes for establishing businesses, further cements the UAE's position as a global hub
for business and investment.

-Ends-

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