Latest news with #MohammedBinRashidAlMaktoum
Gulf Today
3 days ago
- Business
- Gulf Today
UAE attracts $45.6b in FDI in 2024, ranks 10th globally
The UAE ranked 10th globally as a leading destination for inbound foreign direct investment (FDI) in 2024, achieving an unprecedented Dhs167.6 billion ($45.6 billion in FDI inflows, according to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2025. The UAE Foreign Direct Investment Report 2025, issued by the Ministry of Investment, highlights the country's exceptional performance and unmatched success in attracting capital across strategic sectors, reinforcing its status as a premier global investment destination despite an unstable global landscape. 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. 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 Dhs167 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. The country also ranked second globally, after the United States, in the number of newly announced foreign direct investment projects. Our next goal is to attract Dhs1.3 trillion in foreign direct investment over the next six years, God willing.' His Highness continued: 'Our foundation is strong, our future is promising, and our focus on our goals is crystal clear. Our message is simple: development is the key to stability, and the economy is the most important policy.' Despite a global slowdown in greenfield FDI project growth to 0.8%, the UAE achieved a remarkable 2.8% growth, solidifying its position as a key destination for investment flows. Total capital for announced greenfield FDI projects in 2024 reached Dhs53.3 billion ($14.5 billion). The UAE ranked second globally, after the United States, in attracting greenfield FDI projects, with 1,369 new projects announced in 2024. The Ministry of Investment leads these efforts by enabling investment in key sectors, providing a flexible and competitive environment for global capital, and acting as a trusted partner for international investors. The ministry continues close collaboration with federal and local government entities, investment promotion agencies, private sector companies, and international partners to develop innovative policies, enhance the UAE's investment value proposition, and unlock new avenues for long-term economic growth. Annual FDI inflows rose from Dhs31.6 ($ 8.6 billion) in 2015 to Dhs167.6 billion ($45.6 billion) in 2024, with cumulative FDI stock reaching $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 Dhs4.8 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. This momentum is underpinned by the UAE's significant investments in digital transformation, exemplified by the $1.5 billion joint venture between Microsoft and Abu Dhabi-based G42 to advance AI capabilities and set new standards for innovation. The National Investment Strategy 2031 aims to double annual FDI inflows by 2031, targeting Dhs2.2 trillion cumulative FDI by 2031, as per the National Investment Strategy (NIS). The strategy focuses on priority sectors such as advanced manufacturing, renewable energy, financial services, and IT, emphasising sustainability and innovation. Initiatives under this strategy aim to cement the UAE's global leadership in economic diversification and technological advancement. WAM
Gulf Today
08-06-2025
- Politics
- Gulf Today
UAE President, VPs receive Eid Al Adha greetings from leaders of Arab, Islamic states
President His Highness Sheikh Mohamed Bin Zayed Al Nahyan received congratulatory messages on the occasion of Eid Al Adha from Kings, Presidents, and Emirs of Arab and Islamic states. His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, also received similar congratulatory messages on the occasion. UAE President exchanges Eid Al Adha greetings with regional leaders President Sheikh Mohamed also exchanged Eid Al-Adha greetings today in phone calls with Sheikh Mishal Al Ahmad Al Jaber Al Sabah, Emir of the State of Kuwait; King Hamad Bin Isa Al Khalifa of the Kingdom of Bahrain; and King Abdullah II of the Hashemite Kingdom of Jordan. During the conversations, the leaders conveyed their best wishes for ongoing health, happiness and prosperity. They prayed that the occasion would bring continued blessings to their peoples, and that their countries would enjoy lasting peace, stability and progress. They also expressed their hopes for stability and prosperity for Muslim nations and the wider international community. WAM
Gulf Today
29-05-2025
- Politics
- Gulf Today
Media must build, unite not destroy or divide, says Sheikh Mohammed
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said via the X platform: 'We were pleased to host 8,000 Arab media professionals in the UAE for the 23rd Arab Media Summit.' 'We always renew our call for a developmental Arab media that builds and does not destroy, unites and does not divide, creates hope and not despair, combats ignorance, backwardness and intellectual and cultural sickness and creates a more beautiful future for young Arab generations who possess the self-confidence to shape their own growth and future,' he added. The Summit aims to develop a clear vision for the future of the media sector, affirm its positive impact on creating an Arab renaissance, and mobilising efforts to shape a future of progress and prosperity for the region. Attended by approximately 8,000 professionals, the Summit continues to serve as the region's foremost platform for media thought leadership, policy dialogue, and the shaping of future narratives. The Summit also holds Arab Media Award. The Award continues to spotlight professional excellence and high editorial standards in a media landscape marked by rapid transformation. Organised by the Dubai Press Club, the Award remains the Arab world's foremost media recognition platform, celebrating innovative and impactful journalism that meets the evolving needs of the region. This year's edition attracted over 2,900 submissions from across the Arab world.
Gulf Today
25-05-2025
- Entertainment
- Gulf Today
Sheikh Mohammed named as Inspirational Literary Figure for Silk Road International Poets
The World Silk Road Forum has announced the selection of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, as the Inspirational Literary Figure for Silk Road Poets. Sheikh Mohammed was chosen in recognition of his exceptional vision that transformed Dubai into a cultural hub and a bridge between East and West, drawing from the ancient concept of the Silk Road in a modern form and with an Emirati spirit. The Forum also announced that Dubai will host the fifth edition of the Silk Road International Poetry Festival from May 23 to 29, becoming the first Arab city to host this prestigious event. The Mohammed Bin Rashid Library will host the festival's award ceremony on May 27. Around 50 poets, artists, and painters will take part, visiting cultural and tourist landmarks in Dubai and the UAE. Media coverage will be provided by 20 Chinese press agencies, including the People's Daily, one of China's largest media outlets. Sheikh Mohammed Bin Rashid Al Maktoum's selection as the Inspirational Literary Figure for Silk Road Poets is a testament to his significant contributions to literature. A renowned figure in Nabati poetry, his works resonate with captivating eloquence, offering insightful reflections on life and inspiring generations with their profound creativity. His Highness has enriched the literary world with numerous collections exploring profound human, national, and intellectual themes. Among his most notable works is Zayed (2018), a collection of 87 poems commemorating the late Sheikh Zayed Bin Sultan Al Nahyan and his enduring legacy in establishing the UAE. Flashes of Verse (2014) features 52 excerpts from his poetic works in both Arabic and English, delving into themes of life's challenges, love, victory, and the human experience. 40 Poems from the Desert (2011), also in Arabic and English, showcases His Highness Sheikh Mohammed's love for his homeland and its symbols, characterized by refined creativity and a distinct national sentiment. Sheikh Mohammed's passion for horses is evident in For the Love of Horses, a collection celebrating the nobility and competitive spirit they embody. These are just a few examples of his diverse and impactful contributions to the world of poetry. Professor Wang Fangwen, Chair of the Poetry Committee at the World Silk Road Forum, stated, "We chose the UAE as the venue for this event because it represents a symbol of coexistence and peace among peoples under the leadership of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan. The decision to select Dubai was not merely technical or organisational. It carries profound symbolic and cultural dimensions. Today, Dubai exemplifies the modern city that revives the spirit of the Silk Road not only through its dynamic economy but also through its leading role in cultural exchange and its ambitious vision under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, who has made culture a foundational pillar of his civilizational project. This makes His Highness Sheikh Mohammed an inspirational figure for all members of the Silk Road Forum.' Wang Fangwen, who is also Editor-in-Chief of World Poets magazine, issued by the forum, added, "The Silk Road Global Forum aspires to be a platform that brings together culture, art, economy, and technology to revive the values of the Silk Road in a modern spirit that promotes understanding and peace among nations. We have drawn inspiration from the vision and values of His Highness Sheikh Mohammed Bin Rashid Al Maktoum and selected him to appear on the cover of World Poets magazine. The issue includes an in-depth study of his contributions to poetry and literature, along with a selection of his poems translated into Chinese.' The editorial of the magazine presents a comprehensive analysis of the artistic features of His Highness Sheikh Mohammed's poetry and a general overview of his poetic and literary journey. It highlights poems filled with love and pride, written in praise of his brother and companion, President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The magazine describes Sheikh Mohammed as an exceptional leader who transformed Dubai into a global platform that embodies the values and meanings of the Silk Road through a modern Emirati spirit. It further notes that his poetic style is characterized by powerful diction, eloquent language, profound meanings, and sincere emotion. His imagery is drawn from the desert, sea, and Bedouin heritage, intertwined with wisdom and deep human experience. Poet Cao Shui, Vice Chair of the Forum's International Poetry Committee and CEO of the Silk Road Poets Union, stated, "The festival includes a range of cultural and artistic activities, including an award ceremony, poetry readings, critical discussions, and open art exhibitions held in several cultural venues in Dubai and across the UAE. Participants will visit key cultural landmarks such as the Museum of the Future, Burj Khalifa, Sheikh Zayed Grand Mosque, Mohammed Bin Rashid Library, and several art museums. Cao Shui also announced the selection of Emirati poet Adel Khozam as co-chair of the festival's fifth edition. He was chosen as one of the leading poetic figures in the UAE and the Gulf region. Khozam previously won the Great Poetry Medal in China and played a pivotal role in promoting Chinese poetry during Expo 2020. His initiatives in service of poetry include the Tree of World Poetry project, as well as his renowned epic poem Manseerah, co-authored with poets from China. A large number of poets from China and around the world are competing for the festival's prestigious awards, which include the Golden Camel, Silver Camel, Poetry and Film Awards, Best Poetry Collection, Best International Poet, Best European Poet, Best Asian Poet, Best African Poet, Best American Poet, and Best Oceanian Poet. Several Emirati poets have been nominated for these awards, and World Poets magazine has compiled a special section featuring selected poems by the nominated Emirati poets. Commenting on this, Cao Shui said, "All the selected works reflect the high cultural and creative level of the Emirati people. What exceptional poems they are. We believe this event will pave the way for greater cultural cooperation between China and the UAE." The World Silk Road Forum is an independent, non-governmental organisation legally registered in the state of Delaware, United States. It is also recognized by the Consulate General of the People's Republic of China in New York. The forum organizes international events and conferences that promote global cooperation and works in partnership with major international organisations such as the United Nations World Tourism Organisation (UNWTO), the World Internet Conference (WIC), and UNESCO. Its members include global leaders in the fields of law, culture, and international development. The forum also hosts seasonal poetry events under the theme Silk Road Spring Poetry, featuring poets from all five continents. The first edition of the festival was held in Madrid, Spain, in April 2018. The second was held in Moscow, Russia, in 2019. China hosted the third and fourth editions, and this year Dubai has been selected to host the fifth. WAM
Mid East Info
21-05-2025
- Business
- Mid East Info
'Mohammed Bin Rashid School of Government hosts launch of Arabic Edition ‘The Sheikh CEO: Lessons In Leadership From Mohammed Bin Rashid Al Maktoum' '
The Mohammed Bin Rashid School of Government (MBRSG) hosted a special event that included the launch of the Arabic edition of 'The Sheikh CEO: Lessons In Leadership From Mohammed Bin Rashid Al Maktoum', a book by Dr. Yasar Jarrar, Member of the MBRSG Board of Trustees and Managing Partner of Gov Campus. The event was held under the fourth pillar of the Empowering Emerging Leaders Programme for the Dubai Civil Defence, which focuses on fundamental concepts in crisis and disaster management. MBRSG organised the event where the Arabic edition of the book was launched, reflecting its commitment to supporting Arab thought leadership, promoting knowledge in the government administration field, and highlighting pioneering experiences inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai – experiences that have contributed to solidifying the UAE's position as a global hub for innovation and future foresight. Moreover, the initiative embodies MBRSG's strategic position as a leading regional intellectual centre. It facilitates the production and exchange of specialised knowledge and the building of national capabilities, in line with the objectives of the 'We the UAE 2031' vision and the UAE Centennial 2071 Plan. It further strengthens the UAE's presence as a global hub for governmental decision-making and leadership development. 'The Sheikh CEO' provides a comprehensive overview of H.H. Sheikh Mohammed bin Rashid's views and ideas on administration and government transformation, presenting practical lessons on how to formulate a vision, enhance execution efficiency, and embrace innovation to strengthen institutional preparedness. The book highlights the major transformations Dubai has seen over the past few decades, using precise data to document this development. Furthermore, the book covers key milestones in Dubai's journey, which underline the effectiveness of His Highness's leadership model. These achievements include Dubai International Airport's rise to become the busiest airport by global air traffic in 2014, surpassing Heathrow Airport; Emirates Airline's ascension to global leadership; Dubai's transformation into a leading re-export hub; and the emirate's success in hosting major international events, such as Expo 2020. It also highlights the construction of pioneering projects, such as the Burj Khalifa, among other examples that reflect the leadership's ability to transform challenges into opportunities for development. 'The Sheikh CEO' offers a deep analysis of the leadership principles adopted by the man who led Dubai on its journey to its current position, underlining his commitment to empowering talents, promoting a culture of innovation, and establishing effective communication channels with the community. These principles paved the way for the UAE to take the top ranks across major global rankings in terms of 'Trust in Government', including earning first place in the 2014 Edelman Trust Barometer. Launching the Arabic edition of 'The Sheikh CEO' represents a strategic step towards promoting the UAE's pioneering experience in leadership and administration, and expanding its benefits across the Arab world. This, in turn, enhances MBRSG's role in supporting sound governance systems and building leaders' capacities in accordance with advanced methodologies that align with the nation's aspirations for excellence and leadership. The book's author Dr. Yasar Jarrar expressed his happiness to have the Arabic edition of 'The Sheikh CEO' launched through MBRSG, noting that his work embodies a deep-seated Emirati vision in administration and leadership, based on the ideas of H.H. Sheikh Mohammed bin Rashid Al Maktoum, who laid the foundations of a government model rooted in innovation, proactivity, and creating positive societal change. Dr. Jarrar stressed that the book is not merely a documentation of the UAE's transformation journey, but an explicit call to adopt a leadership philosophy aligned with the country's principles and vision, where investing in people and developing their leadership skills constitutes a fundamental pillar for building a bright future. 'H.H. Sheikh Mohammed's experience in leadership offers a reference for decision-makers everywhere,' Dr. Jarrar added. 'The book is a vehicle for promoting successful Emirati models in governance and agile administration, which have set an example now emulated around the world by leaders striving for institutional excellence and sustainable impact.' For his part, His Excellency Dr. Ali bin Sebaa Al Marri, Executive President of MBRSG, said: ' 'The Sheikh CEO' is more than just a book on administration; it is an integrated reference embodying a leadership philosophy that has reimagined government work and all of its features, while remaining anchored in a unique Emirati experience and driven by H.H. Sheikh Mohammed bin Rashid Al Maktoum's forward-thinking vision on leading institutional transformation.' 'This book is a notable addition that enhances thought leadership with its intellectual depth and practical applications, which, in turn, contribute to moulding government leaders capable of making effective decisions in dynamic environments,' H.E. Al Marri continued. 'Linking the book's launch to the principles of 'Smart Government' and 'Crisis and Disaster Management' reaffirms MBRSG's commitment to empowering national talents to support the UAE's objectives and build an administrative model to be emulated across the region and the world.' With its initiatives and active engagement with thinkers and experts, MBRSG continues to shape the future of governance, building leadership capacities and knowledge frameworks that align with the UAE's vision for a globally recognized, innovative public sector.
