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5/10/24, 8:32 AM Summit discusses prospects of economic growth in Mena region - GulfToday

The event brought together top-tier attendees including Abdullah Bin Touq Al
Marri, Minister of Economy.

Salem Al Darei, CEO of ADGM Authority, delivered the welcome notes before
the summit hosted several panel discussions. The summit’s agenda focused on
key challenges and opportunities in banking and finance, technology,
hospitality, tourism and the future of mobility.

The event focused on navigating the global economic landscape beyond 2024
and emphasised the Mena region’s economic outlook amidst new global
realities. Discussions explored tomorrow’s digital financial services landscape
and highlighted the significance of tourism as a key economic driver. The event
also featured insights into future technology landscapes and fireside chats with
key industry figures including Hatem Dowidar, Group CEO, e& and Badr Al-
Olama, Director General, Abu Dhabi Investment Office, providing further
perspectives on economic development and innovation.

Abdulla Bin Touq Al Marri, Minister of Economy, confirmed that the UAE, thanks
to the directives of its wise leadership, has made great strides in diversifying its
national economy and shifting towards a flexible economic model based on
knowledge and innovation. As a result, the non-oil sector today accounts for 74
per cent of the country’s total GDP. This confirms the effectiveness of the
advanced steps we have adopted to further economic diversification, in line
with the goals of the ‘We the UAE 2031’ vision and the UAE Centennial Plan
2071.

In his speech at the summit, Bin Touq said, “The UAE continues its efforts to
provide an incubating environment for conducting business and economic
activities and develop flexible and competitive legislation and economic policies
that will enhance the country’s attractiveness for foreign investments through
establishing a suitable economic climate for investors, capital owners, and
entrepreneurs. The most notable developments in this regard include the
granting of 100 per cent foreign ownership of companies, the modernisation of

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