Page 479 - MOE ENGLISH PR - MAY 2024

5/28/24, 2:49 PM PRESSR: H.E. Bin Touq reviews UAE's new economic model during his meeting with Chairman & CEO of Morgan Stanley — Trad…
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

https://www.tradingview.com/news/reuters.com,2024-05-23:newsml_Zaw30mLvR:0-pressr-h-e-bin-touq-reviews-uae-s-new-economic-model-during-hi… 2/7