Page 530 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/28/25, 9:13 AM The UAE economy is poised for record levels of growth and competitiveness. – Creative mind
The UAE economy is poised for record levels

of growth and competitiveness.

EDITOR February 19, 2025 3 minute read

Abu Dhabi

WANA/ The Emirates News Agency (WAM) reported in the economic file of the Arab News Agencies Union
(FANA) that the UAE economy is poised to achieve record levels of growth and competitiveness by 2025, as

a result of accumulated efforts and strategic policies implemented by the UAE over the past years to
establish a sustainable and diversified national economy based on innovation and knowledge, keeping pace

with global changes.

The report indicated that the UAE economy is starting this year on a positive note, supported by a range of

indicators, as the country’s foreign trade reached 3 trillion dirhams for the first time by the end of 2024. The
Central Bank of the UAE expects the UAE economy to grow by 4.5% this year, while the World Bank

forecasts that the expected growth rate will be even higher.

The report highlighted that the UAE economy will witness numerous qualitative economic initiatives and

plans in 2025, enhancing the UAE’s directions amid the continuous expansion of non-oil private sector
activities, reflecting strong confidence in the UAE’s economic prospects and attracting more foreign

investments.

His Excellency Abdullah bin Touq Al Marri, Minister of Economy of the United Arab Emirates, stated in a
statement to WAM that the UAE has succeeded in establishing itself as one of the most competitive and

sustainable economies in the world, driven by an ambitious vision and strategic directions based on

economic diversification, enhancing innovation, opening new horizons for investment and business, and
accelerating growth in new economy sectors.

He added that the average GDP growth reached 4.8% between 2021 and 2024, while the average growth of

the non-oil GDP reached 6.2%, with the contribution of non-oil sectors accounting for 75% of the national
GDP.

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