The UAE is known for its vast wealth and success, and this has all arisen since the country gained its independence only a few decades ago. The primary and critical drive that allowed for this was the discovery of vast oil reserves. Many of the Middle Eastern nations have, through the years, discovered oil reserves within their lands and have then proceeded with varying success.
The UAE is an excellent example of how this resource can be used effectively and allow for the country as a whole to grow and be recognized globally. However, oil is a finite resource and so as much as it has helped the UAE in becoming what it is, it cannot be relied on to ensure the future. The UAE is aware of this fact, and so there have occurred essential strategies and plans to allow for diversification and growth through further means.
One area which the UAE has excelled and given itself a boost through the use of their oil is to form a great international business environment which promotes substantial foreign investment and attracts many foreigners and their ideas and money. For 2019, there appears to change further driven by legislation concerning FDI.
Foreign Direct Investment (FDI) is when foreign entities or individuals directly invest in another country. The UAE is looking to increase the amount of investment coming into the country, and they will soon be laying out new regulations for 2019 and beyond to assist with this.
The Ministry of Economy has stated that they will introduce and announce changes in the upcoming few months, and the hope is that these will aid the nation and increase the FDI that comes into the country over the previous years.
The current hope is for a 20% increase over the previous year. With such a rise, it will become clear that the country is on the correct path into the future.
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