The UAE’s Ministry of Economy and Abu Dhabi Department of Economic Development (ADDED) have signed a Memorandum of Understanding (MoU) to consolidate efforts to support the goals of the upcoming Investopia Summit at the federal and local levels.
The Investopia Summit, which is set to be held on 28 March 2022 alongside Exp2020 Dubai, is one of the major strategic initiatives under the ‘Projects of the 50’ announced by the UAE Government.
The Summit is designed to offer a new global avenue to discuss future investment opportunities and support national ambitions and investment attraction programs. It has set an ambitious target to enhance the inward flow of investments to attract $149.7 billion in FDI into the country by 2031, to reach $272 billion by 2051.
During the signing ceremony, H.E. Abdulla bin Touq Al Marri, Minister of the Economy, highlighted the importance of bolstering integration between the federal and local levels in order to achieve national objectives in accordance with the vision and directives of the wise leadership.
The signing of the MoU is a major step forward in supporting efforts to consolidate investment opportunities in the country to achieve the goals set by the Investopia summit, the Minister noted. The Summit supports the national ambitions, investment attraction programs, and the UAE’s influential position in the global investment landscape.
In addition, the Summit will advance the future of investments in the country in accordance with a new vision that focuses on future technologies, activities of the new economy, climate action and the adoption of community responsibility and governance standards.
Furthermore, Mr. Al Marri noted that the Summit is a global platform that seeks to accelerate the growth of various economic sectors, strengthen the UAE’s position as a destination for future investments, and generate innovative ideas in new economic sectors. It will also serve as a platform that brings together the world’s most ambitious visionaries, leaders, and investors to launch ideas, create opportunities, and invest in the future.
“The signing of this agreement today forms part of Government of Abu Dhabi’s efforts to support and enhance federal and local efforts to achieve national objectives of the UAE and the ‘Projects of the 50’. It will strengthen our economic development, reinforcing the UAE’s status as a dynamic hub for investments, particularly in new economic sectors.”
Under the terms of the MoU, the Ministry of the Economy and ADDED will work together to jointly announce future investment plans in the UAE and Abu Dhabi through the Investopia Summit. The two parties will also cooperate in hosting discussions and interactive sessions in the sectors and activities of the new economy.
In addition, collaborative efforts will be made to highlight business and investment projects and introduce global investors to promising opportunities and sectors in the UAE’s markets. Furthermore, the two sides will cooperate in inviting global and local stakeholders to attend the Investopia Summit and contribute to enriching its investment and new economy sessions.