Tag Archives: UAE Vision 2021

The fourth edition of the two-day Sharjah FDI Forum titled ‘Shaping the Future of Economies’, got underway in the presence of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member Ruler of Sharjah. The event opened with optimistic comments by the HE Sultan Bin Saeed Al Mansouri, Minister of Economy, the UAE, and the Shurooq Executive Chairman about the nation’s readiness to promote foreign direct investments (FDIs) as an enabler of sustainable development, despite the slump experienced globally – especially in developed economies – in 2017. Al Mansouri shed light on how the new UAE Investment law has come into force to consolidate the nation’s position for FDI both regionally and globally, in line with the UAE Vision 2021 and the UN Sustainable Development Goals 2030. Global flows of foreign direct investment (FDI) fell by 16 per cent in 2017 to an estimated US$1.52 trillion, from a revised US$1.81 trillion in 2016, according to the latest World Investment Report. The Economic Minister cited examples like the approval of 10-year visas for those in the fields of science, technology; new stimulus packages like bank guarantees; flexible remittances; 100 per cent business ownership by foreign investors; the promotion of entrepreneurship, technology transfer, and building capacities of national cadres. Al Mansouri remarked, “There is a need to promote cooperation and dialogue to turn this negative decline around. The UAE has number 1 position in FDI in the Arab region. It is forums like this that offer a platform for the same, and will contribute to mapping of FDI in Sharjah and the UAE.” He explained that the UAE Agenda 2021 has a focus on attracting qualitative investments targeted towards achieving sustainable …

Dubai Silicon Oasis Authority (DSOA) has signed a Memorandum of Understanding (MoU) with the General Directorate of Residency and Foreigners Affairs-Dubai (GDRFA) to further facilitate the delivery of smart services to investors, entrepreneurs and startups, particularly homegrown entities, and help them develop their businesses in areas such as technology, artificial intelligence (AI) and smart city applications. Aligned with Dubai’s Smart Government strategy and the UAE Vision 2021, the agreement will ensure the protection of intellectual property and enhance creative thinking skills and applications, while boosting cooperation in the scientific, training and professional fields as well as the exchange of expertise in legal, technical and administrative matters. As part of the MoU, the GDRFA will set up an office in DSOA’s headquarters to provide government services directly to Dubai Silicon Oasis (DSO)-based entrepreneurs and investors. Dr Mohammed Alzarooni, Vice Chairman and Chief Executive Officer, DSOA, signed the MoU with Major General Mohammed Ahmed Al Marri, Director General, GDRFA, in the presence of senior officials from the two sides. Dr Mohammed Alzarooni said, “DSOA is committed to growing and developing its services according to the Smart Dubai initiative, which aims to make Dubai the smartest and happiest city in the world. We are pleased to sign this partnership agreement with a pioneering entity such as GDRFA that is known for its extremely effective and efficient smart government services and for achieving high levels of customer happiness. Notably, the agreement supports the objectives of the UAE Vision 2021 and Dubai Plan 2021 in shaping an attractive environment that empowers creative entrepreneurs to turn their ideas into successful projects that serve the national economy.” Major General Mohammed Ahmed Al Marri said: “Our agreement is …