Page 404 - MOE ENGLISH PR - MAY 2024

growth, particularly considering the promising and diverse
opportunities and enablers available in the markets of both countries.

Furthermore, they highlighted the significance of enhancing
cooperation in economic affairs that facilitate the transition towards a

digital economy and combat financial crimes, in line with the economic
policies of both nations.

Bin Touq emphasised the UAE's vision to improve economic
openness and forge productive partnerships with international
markets. He 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 in 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. (ANI/WAM)

https://www.bignewsnetwork.com/news/274383221/uae-minister-of-economy-bin-touq-meets-
nyc-mayor-to-boost-cooperation#google_vignette