Page 286 - INVESTOPIA ENGLISH PR REPORT FEBRUARY - MARCH 2024

3/6/24, 9:46 AM Red Sea crisis highlights need for further trade routes, UAE minister says
Between 2021 and 2022, the number of registered companies in the country increased to about
788,000. The ministry has a target of 1 million by the end of 2031.

“That kind of progressive movement in investments will come with economic policies that are set in
place by the ministry and the country,” Mr bin Touq said.

“We would like to continue this conversation forward. We had conversations on capital markets, the
movement of capital between the traditional economy and markets to new [and] emerging markets.
We would have to see more and more happening.”

New economies, he said, are “really taking off”, specifically e-commerce, artificial intelligence,
financial technology, health technology and agricultural technology.

Abdulla bin Touq, Minister of Economy, with the new partners of the updated Future 100 programme for start-ups at the Investopia
conference in Abu Dhabi. Victor Besa / The National
“We bring policymakers to make sure that they have a conversation about the new challenges and
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what kind of new economy comes out of it,” Mr bin Touq said.
In particular, AI – thrust into the spotlight with the emergence of generative AI that led to an industry
frenzy – is expected to reel in more investments and drive “huge progressive growth”, he said.

AI has the effect as with any other industrial revolution and “we would like to see more of AI
improving effectiveness and efficiency globally”, Mr bin Touq said.

Updated: February 29, 2024, 11:46 AM

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