By: Amr Adel
The undersecretary for foreign trade and industry at the Emirati ministry of economy, Abdulla Alsaleh, is expecting foreign direct investments (FDI) in the UAE to grow by 5-10% in 2017.
Alsaleh added in his remarks on the sidelines of the Annual Investment Meeting (AIM) 2017, which is held in Dubai 2-4 April, that there are no final statisitics that show FDI inflows in the country until now, saying that indicators are positive.
The UAE has attracted around $11.5 billion in foreign investments last year, Alsaleh indicated.
When asked about the effects of the imposing the Value Added Tax (VAT) and its effects on the Emirati economy, the undersecretary ruled out negative effects from the tax especially on foreign investments, since it does not discriminate between local and foreign investments, which provides equality, he further explained.
The ministry of economy aims at expanding cooperation with the fast-growing Asian markets in 2017, especially India, China, Indonesia, and the Philippines, where there are many good opportunities, accorind to Abdulla Alsaleh.
Alsaleh also indicated that there has not been any recorded decline in American investments in the UAE, as US investors remain interested in entering the Emirati market.
