Foreign investments set to rise by 20% in UAE

123rf

Foreign investments in the UAE is set to rise by 20 per cent in the year 2019.

That's according to the Ministry of Economy, which believes that a new law passed in 2018 could further strengthen the already business-friendly climate in the country.

Under the law, a powerful foreign direct investments (FDI) unit will be established to propose policies, formulate programmes, and implement Cabinet-approved proposals. It will also oversee the establishment of a comprehensive database for UAE investments as well as assist in the registration and licensing of FDI projects.

The outlook on the UAE’s development remains upbeat with the International Monetary Fund estimating the country’s GDP to experience a 3.7 per cent increase this year compared to 2.9 per cent in 2018. 

Non-oil GDP is also forecasted by the Central Bank of the UAE to expand at 3.4 per cent in 2019, compared to 2.6 per cent in 2018.
 

More from Business

Coming Up on Dubai Eye

  • The Weekend Playlist

    8:00pm - 11:00pm

    Every Friday night Dubai Eye 103.8 plays you the greatest party classics and anthems all the way till Saturday morning!

  • Nights on Dubai Eye 103.8

    11:00pm - 7:00am

    Dubai Eye complements the conversation with the music you love from the eighties, nineties and newer.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!