Page 406 - MOE ENGLISH PR - MAY 2024

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.

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