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5/28/24, 2:48 PM H.E. Bin Touq reviews UAE's new economic model during his meeting with Chairman & CEO of Morgan Stanley

During the visit, H.E. also held a roundtable meeting with several prominent investors to
explore investment opportunities and potentials in the financial markets of the UAE and

the USA. In addition, H.E. Bin Touq participated in the Abu Dhabi Securities Exchange
Conference alongside Morgan Stanley, in the presence of H.E. Ghannam Butti Al

Mazrouei, Chairman of the Abu Dhabi Securities Exchange.

During the interactions, H.E. reiterated the UAE’s commitment to strengthening
cooperation and fostering productive partnerships with global financial and business

institutions and major investment funds. These efforts aim to boost the competitiveness of

the UAE’s business landscape, support the ongoing modernization of economic
legislation, and solidify the country’s status as a leading global hub for business and

investment. H.E. highlighted the crucial role that Morgan Stanley and international banks
play in supporting these efforts and encouraging investments in rapidly expanding

sectors, facilitating the shift towards innovative and flexible economic models.

During the meeting, H.E. Bin Touq discussed the UAE’s new economic model based on
knowledge and innovation and its role in ensuring resilience in the face of current global

challenges. It also contributes to accelerating the diversification of the national economy,
especially since the contribution of non-oil sectors to the UAE's GDP has reached 74 per

cent. This model has also contributed to enhancing the UAE's attractiveness to foreign

investments in new economic sectors, especially fintech, entrepreneurship, clean energy,
sustainable manufacturing, smart transportation, and the circular economy.

The Minister of Economy noted that the UAE economy is going through a new phase of

sustainable development thanks to the flexible and competitive economic policies,
legislations, and economic partnerships with diverse strategic markets at regional and

global levels. The non-oil GDP increased by 5.9 per cent during the first nine months of

2023, and the inward FDI amounted $22.737 billion, an increase of $2.07 billion with
nearly 10 per cent growth compared to 2022, recording the second highest global

increase in new foreign investment projects at a rate of 28 per cent.

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