The United Arab Emirates announced on Sunday a major plan to stimulate its economy and liberalise stringent residency rules for foreigners, as the country seeks to overhaul its finances and attract visitors and investment.
The nation’s plan to lure foreign talent over the next decades reflects an emerging contrast with the other sheikhdoms of the Persian Gulf that are growing increasingly protectionist as they try to diversify their oil-bound economies.
Now marking its 50th anniversary, the UAE is seeking to accelerate its economic and social reforms to rebrand for a post-pandemic future.
Portraying the country as a liberal, bustling trade and finance hub, the government promised to pour USD 13.6 billion into the economy in the next year and USD 150 billion by 2030.
Specific projects have yet to be announced, but USD 1.36 billion has been earmarked for Emirates Development Bank to support the industrial sector.
We are building the new 50 years’ economy, Thani al-Zeyoudi, the minisThe United Arab Emirates announced on Sunday a major plan to stimulate its economy and liberalise stringent residency rules for foreigners, as the country seeks to overhaul its finances and attract visitors and investment.
The nation’s plan to lure foreign talent over the next decades reflects an emerging contrast with the other sheikhdoms of the Persian Gulf that are growing increasingly protectionist as they try to diversify their oil-bound economies.
Now marking its 50th anniversary, the UAE is seeking to accelerate its economic and social reforms to rebrand for a post-pandemic future.
Portraying the country as a liberal, bustling trade and finance hub, the government promised to pour USD 13.6 billion into the economy in the next year and USD 150 billion by 2030.
Specific projects have yet to be announced, but USD 1.36 billion has been earmarked for Emirates Development Bank to support the industrial sector.
We are building the new 50 years’ economy, Thani al-Zeyoudi, the minisRead More