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Minister of Economy highlights developments in

UAE business environment during Gateway Gulf

2024

Middle East | November 4, 2024 7:11:48 AM IST

Manama [Bahrain], November 4 (ANI/WAM): Abdullah bin Touq Al Marri, Minister of Economy,
participated in a panel discussion at the second edition of the Gateway Gulf 2024 Investment
Forum, organised by Bahrain Economic Development Board in Manama on November 3-4.

The minister highlighted developments in the UAE business environment and investment
opportunities within the new economy sectors, as well as recent economic 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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