Project Galileo Archives
"As schools across the UAE begin integrating AI into their curricula, we are committed to empowering educational institutions with advanced tools and solutions".
Learn how @ASUS_MiddleEast is supporting the future of education below.
https://www.tahawultech.com/industry/technology/asus-examines-the-use-of-ai-in-education-at-the-tech-social-event/
#ASUS #tahawultech
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32 minutes ago
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UAE cements its position as global destination for attracting FDI with total inflows of $45.66bln in 2024
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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, declared that, under the visionary leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, the UAE's tenth global ranking in FDI inflows for 2024 confirms its status as a land of boundless opportunities and the premier destination for innovative businesses and bold ideas. His Highness Sheikh Mohammed bin Rashid Al Maktoum said: 'In an international vote of confidence in the UAE's economy, the latest report by the United Nations Conference on Trade and Development (UNCTAD) revealed that the UAE attracted AED 167 billion ($45 billion) in foreign direct investment over the past year, marking a 48% growth compared to the previous year.' His Highness added: 'The UAE accounted for 37% of all foreign direct investment inflows into the region. Out of every $100 invested in the region, $37 comes to the UAE. 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The Ministry of Investment leads these efforts by enabling investment in key sectors, providing a flexible and competitive environment for global capital, and acting as a trusted partner for international investors. The ministry continues close collaboration with federal and local government entities, investment promotion agencies, private sector companies, and international partners to develop innovative policies, enhance the UAE's investment value proposition, and unlock new avenues for long-term economic growth. Annual FDI inflows rose from AED31.6 (USD 8.6 billion) in 2015 to AED167.6 billion (USD 45.6 billion) in 2024, with cumulative FDI stock reaching USD 270.6 billion, reflecting a 10.5% compound annual growth rate from 2015 to 2024. Mohamed Hassan Alsuwaidi, Minister of Investment, stated: 'Recording this unprecedented level of FDI inflows to the UAE is an achievement that reflects the strategic choices made by our wise leadership and its long-term vision to establish the UAE as a leading global investment destination. The Ministry of Investment is committed to developing a comprehensive regulatory and legislative framework aligned with our national priorities, meeting investors' needs, and providing a competitive business environment that attracts global capital.' He added: 'The UAE's investment ecosystem has become a global model, thanks to its stability, transparency, trade openness, and ease of doing business. Through the National Investment Strategy 2031, we continue to set ambitious goals to cement the UAE's position as a leading global FDI destination. We provide a clear pathway to drive sustainable growth, double investment opportunities, diversify priority sectors, and open new horizons for global companies seeking innovation and expansion in future markets.' The strong performance of key economic sectors boosted the upward trajectory of announced greenfield FDI projects in the UAE. Software and IT services led announced FDI greenfield project values (11.5%), followed by business services (9.7%), renewable energy (9.3%), coal, oil, and gas (9%), and real estate (7.8%). The energy sector attracted AED4.8 billion USD 1.3 billion in greenfield FDI, advancing the UAE's national goal to triple renewable energy production capacity by 2030. The UAE's supportive investment policies and robust strategic partnerships have solidified its position as a primary destination for foreign capital in the region, capturing approximately 37% of the region's FDI inflows in 2024. The UAE continues to attract top global talent, driven by policies supporting its investment strategy, including full foreign ownership in mainland companies, a competitive 9% corporate tax rate, streamlined licensing procedures, and enhanced legal protections. These policies have fostered a favorable investment climate, while strong legal frameworks, such as the Dubai International Arbitration Centre, have bolstered investor confidence and safeguarded their interests. The UAE ranks fifth globally in attracting highly skilled talent (per the 2024 Global Talent Competitiveness Index by INSEAD) and third in attracting AI talent (per Stanford University's 2024 AI Index), reinforcing its status as a leading hub for professionals, entrepreneurs, and innovators. Global partnerships are another key driver of investment attraction, with 21 Comprehensive Economic Partnership Agreements and 120 bilateral investment treaties clearly supporting the investment landscape. 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Zawya
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Texel in deal to expand aircraft MRO hangar units at Bahrain airport
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