Page 589 - MOE ENGLISH PR - MAY 2024

5/27/24, 9:26 AM PRESSR: Minister of Economy participates in SALT iConnections Forum — TradingView News
its ability to serve as a link for business communities with the ever-

growing global South. He noted that the UAE market is an important

destination for the American business community. Currently, 16,000

American citizens hold business licenses within the country, in

diverse sectors such as finance, insurance, trade, real estate,

manufacturing industries, scientific and technical activities,

transport, storage, mining, etc.

In addition, H.E. reviewed the highlights of the UAE economy,

emphasizing that it is one of the region's most diversified,

competitive, and opportunity-generating economies, especially in

new and future sectors. Many non-oil and fast-growing sectors today

contribute to supporting the national GDP, such as health care,

finance, hospitality, logistics, agricultural, financial technology, and

e-commerce. FDI also remains one of the nation's most important

growth drivers.

In 2022, the UAE achieved its highest FDI inflows at USD 22.7 billion,

up 10 per cent from 2021, in a first in the region. The country

recorded the second highest increase in the number of new FDI

projects in 2023 at 28 per cent and ranked first globally in the

Global Entrepreneurship Monitor Report 2024, maintaining its

prestigious global position in attracting investments and

entrepreneurial projects.

Comprehensive development of economic legislation to keep pace

with new economy trends

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