Page 529 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/8/24, 3:05 PM Minister of Economy highlights developments in UAE business environment during Gateway Gulf 2024
legislative updates in the country.

Abdullah bin Touq affirmed that, under the guidance of its wise leadership,
the UAE has made significant strides toward diversifying its national economy and
shifting to a new economic model based on knowledge and innovation.

Currently, non-oil sectors, he said, contribute 74 per cent of the nation's GDP,
encouraging investors and entrepreneurs to expand in these areas, supporting

the UAE's goal of becoming a global hub for the new economy by the next decade, in

line with the 'We the UAE 2031'.

He stated, "Gulf countries have emerged as major economic powers with a significant
impact on the global economic and investment landscape, thanks to their strategic

geographical locations, outstanding infrastructure, and diverse investments across

many nations.

This, he added, has established these countries as international hubs for business
and investment, hosting some of the world's largest companies.

"We are committed to supporting continued Gulf cooperation across various fields,

especially in economic and investment sectors, and exploring opportunities to

enhance economic integration, contributing to the resilience and advancement of Gulf
economies toward greater progress and prosperity," he said. (ANI/WAM)

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