Page 531 - 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 - www.lokmattimes.com

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.

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