According to the Executive Director of the Central bank of UAE, the country attracted $11 billion worth of private investments in recent years. Saeed Abdullah Al Hamiz, who made the comments, said that much of the investments were attracted by the UAE's free zones.
He added that UAE officials worked hard to create an environment to attract such investment, offering investors political and economic stability, a tax-free market, a modern infrastructure and freedom to transfer capital freely.
Hamiz also pointed out that the UAE would encourage future investment in such areas as real estate, tourism, fishing, and services.
The Director made the comments at the launch of the new FDI database program of Central Bank of the UAE, Ministries of Economic and Planning, Finance and Industries, Economic and planning departments of all the emirates and other international bodies.
Hamiz said the UAE Central Bank supports the issuance of an investment law to identify potential FDI sectors and to establish laws with regard to capital participation, repatriation of profits and liquidation process.
However, he also warned that the UAE "must also learn from the bad experience of South East Asia" referring to their economic crashes in the past.
