Companies are bullish about investing in the UAE and the Government expects 15 to 20 per cent rise in the volume of foreign direct investment (FDI) in the next two years.
Enthused by a new UAE law that will enable certain sectors to be open to up to 100 per cent foreign ownership from the first quarter of 2019, the South Korean government’s Daejeon Information & Culture Industry Promotion Agency (DICA) has chosen Sharjah to be home to its Middle East and North Africa (Mena) headquarters.
"This will be our first presence in the region … and we will use UAE as a vehicle of other investments in Mena. Sharjah investment will be significant and right now we are finalising the budget," Park Chan-Jong, president of DICA, told The National.
Mr Park expressed confidence in the UAE’s new FDI law and said technology and innovation sectors will be key areas. He also signed a memorandum of understanding, on Monday, with Sharjah Research, Technology and Innovation Park on the on the behalf of Daejeon city.
FDIs to the UAE surged by 8 per cent to $10.4 billion in 2017, making the country the largest source of overseas investment that year for the Arab region, according to the UN Conference on Trade and Development’s (UNCTAD) World Investment Report 2018.
With the new law and other incentives, FDI volume is expected to rise at 15 to 20 per cent in the next two years, said UAE Minister of Economy Sultan Al Mansouri, during an opening address at Sharjah FDI Forum 2018.
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Read more:
UAE central bank removes 20% cap on real estate loans, Banking Federation chief says
UAE to announce sectors eligible for full foreign ownership in early 2019
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The World Association of Investment Promotion Agencies (Waipa), which was established by the United Nations Conference on Trade and Development to stimulate the interests of investment promotion agencies, says the UAE is now a global front runner for FDI.
"With a new law in place allowing 100 per cent foreign ownership in selected segments in the coming months, UAE is certainly on upbeat side," Bostjan Skalar, chief executive of Waipa, told The National.
“We were expecting to meet the FDI volumes of pre-crisis (2008) time in 2018 but we missed very badly … still UAE is unfazed,” said Mr Skalar.
Sharjah, which saw an increase of more than 100 per cent in FDI flow in 2017 over 2016, is expecting to attract potential investors in various sectors such as infrastructure, education and entertainment in 2019.
“With investor-friendly regulations, UAE is becoming an attractive destination for the world… We are seeing an enhanced interest in Sharjah and next year will see fresh investments in many sectors,” said Marwan Al Sarkal, executive chairman at Sharjah Investment and Development Authority (Shurooq).
In 2017, FDI inflows to Sharjah were $1.6bn as compared to $808 million in 2016.
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Company%20Profile
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Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
SOUTH%20KOREA%20SQUAD
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COMPANY%20PROFILE%20
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if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
Company%20profile
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Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
PAKISTAN SQUAD
Abid Ali, Fakhar Zaman, Imam-ul-Haq, Shan Masood, Azhar Ali (test captain), Babar Azam (T20 captain), Asad Shafiq, Fawad Alam, Haider Ali, Iftikhar Ahmad, Khushdil Shah, Mohammad Hafeez, Shoaib Malik, Mohammad Rizwan (wicketkeeper), Sarfaraz Ahmed (wicketkeeper), Faheem Ashraf, Haris Rauf, Imran Khan, Mohammad Abbas, Mohammad Hasnain, Naseem Shah, Shaheen Afridi, Sohail Khan, Usman Shinwari, Wahab Riaz, Imad Wasim, Kashif Bhatti, Shadab Khan and Yasir Shah.
