Page 353 - MOE ENGLISH PR REPORT - JULY 2024

8/1/24, 9:56 AM UAE Economy Minister Discusses Opportunities in Budapest - Budapest Business Journal
Al Marri highlighted the UAE’s focus on developing a robust non-oil sector to reduce its dependency
on fossil fuel revenues. He noted that significant strides have been made in various industries,
including technology, tourism, and finance.

“The UAE’s non-oil sector has shown remarkable growth, contributing significantly to our GDP and
showcasing our commitment to economic diversification,” the Emirati politician said.

Advanced Infrastructure

The UAE’s strategic location as a global trade hub was another critical point in Al Marri’s presentation.
He discussed the country’s advanced infrastructure, which supports efficient logistics and connectivity.
This has been pivotal in attracting FDI and establishing the UAE as a preferred destination for
international businesses.

“Our state-of-the-art infrastructure and strategic position make the UAE an ideal gateway for
businesses looking to expand into the Middle East and beyond,” Al Marri explained.
The minister also elaborated on the UAE’s proactive approach to fostering innovation and
entrepreneurship. Initiatives such as the UAE Vision 2024 and the National Innovation Strategy have
created a conducive environment for startups and tech companies. Al Marri highlighted several
success stories of startups that have thrived in the UAE’s dynamic ecosystem, contributing to the
country’s economic resilience and adaptability.

A moderated conversation and Q&A session followed, led by Tamás Fellegi, a Hungarian politician,
jurist, political scientist, and businessman. One of the key topics was the UAE’s commitment to
sustainability and green growth. Al Marri mentioned that the UAE has invested heavily in renewable
energy projects and is continuously working towards reducing its carbon footprint.

“Sustainability is at the core of our economic policies. We aim to balance economic growth with
environmental stewardship,” he said.

Questions from the audience ranged from investment opportunities in the UAE to the country’s
regulatory framework. Al Marri highlighted the Emirate’s business-friendly policies and the various
incentives available to foreign investors.
This article was first published in the Budapest Business Journal print issue of June 28, 2024.

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