UAE has revealed plans to strengthen trade ties in Asia and Africa, seeks to attract $150 billion in foreign investment to assure its position as the magnet of business and the most attractive hub for investors.
UAE Seeks to Expand Trade Relations
The UAE government is currently working on expanding trade relations with further afield markets by inking economic agreements with fast-grow countries in both Asia and Africa.
UAE is eyeing to establish strategic investments from countries like South Korea, Indonesia, Kenya, Ethiopia, Turkey, India, Britain, and Israel, as the oil-rich nation aims to rank among the 10 biggest global investment destinations by 2030. These targeted nations' markets make up 10% of the world’s economic output, Bloomberg reported.
To achieve such ambitions, the UAE has opened up foreign horizons with flexible legislation, proactive steps, and stimulus packages that reach up to $27.2 billion.
In other prominent efforts that seek to boost growth, UAE has launched two new visa categories; green visa and freelance visa.
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