Page 400 - MOE ENGLISH PR - MAY 2024

5/28/24, 1:07 PM PRESSR: H.E. Bin Touq meets with the Mayor of New York City to explore strengthening of cooperation in new & sustainable eco…
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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