Amin Salam, the Lebanese Minister of Economy and Trade, stated that the UAE has established itself as a global leader in luring investors from all over the world…reports Asian Lite News
Ahmed Aboul Gheit, Secretary-General of the Arab League, said that the UAE’s openness to the world has ensured its economic progress over the past two decades.
Speaking to the Emirates News Agency (WAM) during the Annual Investment Meeting in Abu Dhabi, the AL Chief said that the meeting is a platform for connecting Arab business leaders and investors to explore investment prospects available in the Arab region.
The event’s sessions addressed the challenges that impede the growth of investments in Arab countries, he said, affirming the importance of promoting cooperation to benefit from major investment opportunities in the region.
Aboul Gheit said that political, economic and monetary stability are essential for attracting FDI inflows, noting that a conducive legal ecosystem and good governance are necessary to safeguard invested capital, help achieve intended objectives and accelerate FDIs.
Despite having considerable potential, Arab countries have received very low direct investments over the past 20 years due to regional crises that began in 2011 and reduced capital value, he added.
Meanwhile, Amin Salam, the Lebanese Minister of Economy and Trade, stated that the UAE has established itself as a global leader in luring investors from all over the world, as well as in achieving strong economic growth rates that have encouraged all Arab countries to follow suit.
In statements on the sidelines of the Annual Investment Meeting in Abu Dhabi, the Lebanese minister said that Lebanon is significantly reliant on its long-standing commercial and economic ties with the UAE, which will surely contribute to the Lebanese economy’s critical economic and trade balance.
He emphasised that new legislation that will be of an economic and reform nature and serve as significant incentives for foreign investors to come to Lebanon are currently being finalised.
ALSO READ: Arab League condemns Israeli strikes
[soliloquy id="151345"]