UAE Aims to Attract $150 Billion in Foreign Investments Over 9 Years

The Government of the United Arab Emirates has announced the launch of 50 new economic projects to enhance its economic competitiveness. UAE Minister of Economy, Abdullah bin Touq, stated that the UAE aims to attract 550 billion dirhams in foreign investment over the next nine years (with the dollar equivalent to 3.67 dirhams). He noted on Sunday that the country aims to be among the top 10 global investment destinations by 2030. The focus will be on investments from countries such as Russia, Australia, China, and the United Kingdom. The UAE also announced new types of residence and work visas to include more categories.