Onjo Simson

  Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade avers on how UAE is currently reaping the rewards of their diligent leadership by recording an impressive 35% increase in foreign direct investment (FDI) inflows this year. Considering the situation whereby world investment rates fell by 2% during this precise year, such an increase in UAE comes as unexpectedly significant. Due to the CEPA named after comprehensive economic partnership agreement, along with several MoU's signed altogether, UAE have primarily developed her international FDI appeal to now stand at position 11 globally based on UNCTAD's 2024 World Investment Report. Focusing on innovation and creating strategic clusters has made UAE make an enabling environment that lures top-notch companies and promotes economic development. To further underscore its visionary strategy, the UAE has set out a challenging target of increasing non-oil foreign trade to more than Dh4 trillion by 2031. In this re...

  In the 2024 World Competitive Report, the UAE recorded notable advancements in various economic and social indicators. The nation was positioned in the top ten globally with respect to over 90 main and sub-factors, particularly excelling in areas like industrial disputes, labor force expansion, household consumption-real growth, leading in 11 aspects .It is important to recognize that the country has reached the second position on important indicators such as tourism receipts, female representation in parliament, and government policy adaptability showing it is devoted to diversity as well as progressive governance practices. This also cements UAE’s dynamic and competitive global reputation by ranking third, fourth, and fifth on different indices such as immigration laws, overall productivity, and GDP per capita. Since 1989, the IMD World Competitiveness Report has been a respected model showing how the UAE continues to make strategic strides concerning the advancement of its eco...

  Sheikh Khaled bin Mohamed bin Zayed Al Nahyan is leading the brand new AgriFood Growth and Water Abundance (AGWA) Cluster that has just been launched to take Abu Dhabi further towards its sustainable future aspirations. This new initiative is positioned to change things the world over as far as hunger and drought is concerned. ABU DHABI Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO) are the two institutions behind AGWA. It is working on utilizing latest technological solutions and creativity to enable an effective water supply chain for bolstering national food security by 2051 and achieving water wealth by 2036 as per UAE’s vision. AGWA by its advancements in alternative proteins, algae and reverse osmosis technologies not only pushes sustainable local production but also triggers economic growth and job creation. With projections showing that it will make significant contributions to Abu Dhabi’s economy and make thousands of new jobs, AGWA is ...

  The United Arab Emirates (UAE) announced on Wednesday that its non-oil foreign trade reached a record high of 1.239 trillion UAE dirhams (about 337 billion U.S. dollars) in the first half of 2023. This represents a 14.4% year-on-year increase. The UAE's Vice-President and Prime Minister, Sheikh Mohammed bin Rashid Al Maktoum, said in a tweet that the country's non-oil foreign trade is projected to exceed 2.5 trillion dirhams this year. China was the UAE's biggest trading partner in the first half of 2023, followed by India, the United States, Saudi Arabia, and Türkiye. The contribution of gold exports to the UAE's non-oil foreign trade was 17.6%, compared to 14.3% in the corresponding period of 2022. The strong growth in the UAE's non-oil foreign trade is a positive sign for the country's economy. It suggests that the UAE is diversifying its economy away from oil and gas, and is becoming more integrated into the global economy. The UAE's strong t...

  The BRICS countries (Brazil, Russia, India, China, and South Africa) have agreed to expand the bloc to include Argentina, Iran, Saudi Arabia, Egypt, and the United Arab Emirates. The decision was made at the 14th BRICS summit, which was held in South Africa on June 23-24, 2023. The expansion of BRICS is seen as a way to strengthen cooperation between the countries and to promote economic growth anddevelopment. The new members are all major economies with significant potential for growth. Argentina is a major agricultural producer, Iran has a large oil and gas reserves, Saudi Arabia is a major oil exporter, Egypt is a major tourist destination, and the UAE is a major financial center. The news of the expansion of BRICS has been met with mixed reactions. Some analysts have welcomed the move, saying that it will help to promote economic growth and development in the Global South. Others have expressed concerns that the expansion of BRICS will lead to increased tensions between ...