UAE mulls new laws to boost investment climate

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UAE mulls new laws to boost investment climate

Issac John

11 May 2011

DUBAI ? The UAE is developing a spate of trade, investment and economic laws to further enhance the local investment environment, Shaikha Lubna Al Qasimi, Minister of Foreign Trade, said on Tuesday.

The government is also working on strengthening the competitiveness of the UAE, one of the most dynamic economies in the region, Shaikha Lubna said in her address at the Annual Investment Meeting at the Dubai International Convention and ?Exhibition Centre

?The macroeconomic indicators in the UAE show encouraging signs. The International Monitory Fund expects a 3.5 per cent rise in the 2011 growth rate, in the wake of the momentum of 2010, which saw most economic sectors achieve fair growth in a significant movement towards recovery from the global financial crisis,? she said. The UAE continues to successfully attract foreign investments, and plays a vital role in reenergizing trade and investments worldwide, she said. ?The country is now the regional headquarters of over 25 per cent of the top 500 companies in the world, thanks to its ?highly favourable? business and investment climate.?

?Well-planned government guidelines and strategies, a competitive economy and an advanced trade status have contributed to the UAE?s emergence as a bridge between East and West,? Shaikha Lubna said.

?The UAE is committed to enhancing its resources through economic diversification and foreign investment promotion throughout the region. The government is currently focusing on compliance with international investment guidelines to mitigate the effects of climate change via fields such as renewable energy,? she said.

via Khaleej Times Online – UAE mulls new laws to boost investment climate.