UAE holds Annual Investment Meeting to boost economy
The United Arab Emirates (UAE) through its Ministry of Economy has concluded plans to hold an Annual Investment Meeting (AIM) from March 29 – 31, 2022 with focus on creating more investment channels.
The UAE is a developed economy registered in a threefold increase in FDIs in 1H21, reaching a total of $424 billion.
The UAE is one of the world’s top 20 economies, in terms of FDI. AIM 2022’s FDI Pillar aims to explore pivotal themes, including mainstreaming ESG investments, GVCs Optimisation, IPAs as a favourable business environment, importance of SEZs, amongst other relevant topics.
“Currently, the UAE is ranked 11th in the world for Ease of Doing Business and first in the region. Together, we will make the UAE the best investment destination in the world”, H.E. Dr. Thani bin Ahmed Al Zeyoudi.
Eyeing the augmentation of Foreign Direct Investments (FDI) flows worldwide, The Annual Investment Meeting (AIM) – an initiative by the UAE’s Ministry of Economy expressed its keenness on continuing to create numerous investment opportunities and innovative economic and business strategies, whilst fully supporting the ensuing macro recovery and subsequent changes to the global economy.
The AIM’s next edition – to be held from 29 to 31 March 2022, with the theme of “Investments in Sustainable Innovation for a Thriving Future” will focus mainly on endorsing and boosting investments towards sustainability and innovation through key activities under the FDI Pillar.
Thanks to rising investors’ confidence, FDI flows have rebounded, globally, in 1H21, as per the latest United Nations (UN) report. Developed economies’ FDIs increased more than threefold in the first half of this year, hitting $424 billion.
Contrary to previous forecasts, global FDI prospects for the full year have improved, the UNCTAD report indicated. This has also been evident in FDIs into East and Southeast Asian countries, which saw a rise of 25%.
The UAE is one of the world’s top 20 economies, in terms of FDI, indicating the country’s strong economic performance. In response to the pandemic, it was one of the first countries in the world to launch stimulus packages and initiatives to provide the necessary support to the economy’s various sectors and adapt to pandemic-related challenges.
The country’s resilience and relentless pursuit of successful economic transformation and sustainability are clearly manifested in the high global rankings it has achieved.
H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the UAE, said:
“With the world’s greatest show, Expo 2020 Dubai, we are now looking forward to collaborating with other organizations and partnering with the best ideas in the world to shape the future.
To achieve our goal of attracting foreign direct investment, we offer a number of incentives to investors, such as zero personal income tax, 100% foreign ownership, and a 10-year golden visa. Currently, the UAE is ranked 11th in the world for Ease of Doing Business and first in the region. Together, we will make the UAE the best investment destination in the world”.
AIM 2022 activities are designed to boost investment opportunities extensively in various sectors. Participants can explore lucrative investment prospects and ideas under the FDI Pillar as global markets offer new investment opportunities to spur economic growth.
H.E. Dr. Thani bin Ahmed Al Zeyoudi added that:
“For the past 10 years, the Annual Investment Meeting has played a crucial role in bringing in foreign investment to the UAE. Our focus is now on enhancing UAE’s international reputation as an investment hub and mobilizing concrete investments, along with bringing in solutions for sustainable economic growth. I believe the next edition of the Annual Investment Meeting will bring positive economic change achieving new milestones in the FDI world.”
AIM 2022 will recognize the best Investment Promotion Agencies across the globe through the AIM Awards, giving tribute to the best FDI projects in regions that have contributed significantly to their markets’ growth and expansion.
AIM’s FDI Pillar will present and discuss key topics; these include:
“Less than a decade away from SDGs 2030, where are we now, in terms of sustainable investments?” which will explore the concerns and action plans to foster inclusive economic development and resilient societies.
“How FDIs must drive change towards mainstreaming ESG investments”, where experts from global investment agencies will provide their insights and engage in thought-provoking discussions.
“Global Value Chains (GVCs) Optimisation” is also especially relevant, as developed and emerging economies are urged to reposition and optimize their supply chain systems, not only in terms of cost-effectiveness, but more importantly, from the perspective of logistical expertise and long-term regional stability. As GVCs are revisited, redesigned and transformed, this will be reflected in investors’ preferences, in addition to all the complementary initiatives that are implemented by regulatory authorities.
Establishing a digital competitive investment infrastructure has now become mandatory for positioning Investment Promotion Agencies (IPAs) as favourable business environments, which was evident in the global economic recovery pattern. This issue will be explored in the session: “Accommodating Virtual FDIs: No Longer a Far-Fetched Concept, but a Requisite”.
According to UNCTAD, only half of the IPAs worldwide acknowledge the impact of FDI attraction in their country zones. The Special Economic Zones (SEZs) session, “Walking the Talk Beyond Fiscal Incentives”, will discuss the rationality of establishing SEZs: what makes them mutually prosperous and sustainable in today’s business context; and how to best strategize their development through constructive partnerships.
When selecting an FDI location, countries with higher-skilled and better-educated workforces tend to attract more greenfield FDI projects (UNCTAD, WIF). In the wake of workforce flexibility, countries are increasingly promoting diverse and digitally adept talent pools to leverage FDIs.
The session, “Seizing the Opportunity to Attract & Retain the Talent Pool” will present an opportuiny where policymakers and employers will gather to tackle the issue of the remotely functional and resilient workforce in today’s fragmented global economy.
Focused on three regional topics that examine the economic landscapes of Africa, Asia and Latin America, Day 3 of the FDI Pillar’s activities will explore the regions’ risks, challenges and opportunities for growth that call for increased regional cooperation.
Mr. Dawood Al Shezawi, President of the AIM’s Organising Committee, stated that:
“Since the global pandemic, the Annual Investment Meeting has undertaken several innovative and technologically driven initiatives to transform the economy towards an upward direction. The platform has continued to drive investments through smart solutions. It has also pushed for the development of several projects that add value to investors and the economy in general. AIM recognises the UAE’s continued success and will serve as an instrument to further establish future economic developments and boost FDI flows worldwide.”
The Annual Investment Meeting continues to gain support from several Ministries and Government Departments, Special Economic Zones (SEZ), Smart City Solution Providers, Venture Capitalists, Angel Investors and several financial institutions to provide SMEs and start-ups with an abundance of opportunities. Apart from AIM’s FDI Pillar, the Annual Investment Meeting consists of five more pillars: I) the 50 Initiatives Pillar; ii) The Small Medium Enterprises (SME’s) Pillar; iii) The Future Cities Pillar; iv) The Start-ups Pillar; and v) the FPI Pillar.
For more information on AIM 2022, please visit www.aimcongress.com.