Government measures to further facilitate doing business will lead to a boost to foreign investment inflows into the UAE in high-priority projects, says the Ministry of Economy.

A series of policies, including more flexible visa programs and allowing 100% foreign ownership of businesses, will go towards attracting greater capital and talent to the country, said Abdullah bin Touq during a speech at the Sharjah Investment Forum.

“These policies will create a market that is able to attract all types of capital, whether financial, technological, or human resources,” the minister stated.

“I call on all regional and global investors and entrepreneurs to consider the country's attractive investment climate and leading investment-friendly policies and to benefit from the opportunities provided by our ambitious growth plans and vital economic sectors.”

The UAE is planning to attract up to $150 billion in foreign investments by 2031 in a bid to diversify the economy away from oil. The UAE attracted $21 billion worth of foreign direct investments in 2021, a 15% rise from pre-pandemic figures and making up 40% of total FDI in Arab countries, The National reports.

In addition, the chief executive of Sharjah FDI Office (Invest in Sharjah), Mohammed Al Musharrakh, stressed the need to back sustainable investment opportunities, giving priority to sectors including health, education and agriculture to fuel economic growth across the globe. 

“The emirate of Sharjah is a model of a sustainable future economy, with its waste-to-energy city and emphasis on sustainability in its economic sectors, including 35% of the country's factories as well as investing nearly $1.5 billion annually in education, research, and future skill development," he said at the forum.

“To further enhance its potential, it is critical to forge partnerships with local, regional and global investors to ensure sustainable and qualitative growth.”