UAE seeks to diversify resources: Shaikh Abdullah
Foreign Minister says the nation plans to explore investment opportunities in emerging markets.
Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan attended the second reception of the Ministry of Foreign Affairs, held under the theme “Diplomacy in support of economic cooperation on Monday.
Present at the reception were Shaikh Sultan bin Tahnoun Al Nahyan, Chairman of the Abu Dhabi Tourism and Culture Authority; Shaikha Lubna bint Khalid Al Qasimi, Minister of Development and International Co-operation; Shaikh Mohammed bin Hamdan bin Zayed Al Nahyan; Sultan bin Saeed Al Mansouri, Minister of Economy; Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy; Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs; Dr. Sultan bin Ahmed Sultan Al Jaber, Minister of State; representatives of the ministry’s partners, members of the business community, ambassadors of Arab and foreign countries, and representatives of foreign companies.
“We meet today after an eventful year that saw huge developments in the UAE, inspired by the principles laid by the late Shaikh Zayed bin Sultan Al Nahyan and maintained by the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan. We also meet after just celebrating two major events; the 42nd National Day anniversary and the UAE, represented by Dubai, winning the bid to host Expo 2020,” said Shaikh Abdullah.
Shaikh Abdullah underlined the achievements made by the UAE this year, including ranking world’s 33rd in the Ease of Doing Business survey by the World Bank. In the Global Competitiveness Report for 2013-2014, the UAE advanced five positions in the total competitiveness of its economy in one year, from 24th last year to the 19th this year.
On the federal government’s strategy to boost national economy, Shaikh Abdullah said the economic sector at the Ministry of Foreign Affairs had adopted plans to support the country’s investments abroad and to explore investment opportunities in emerging markets.
“The UAE seeks to enhance its economic competitiveness by diversifying its resources and by building a knowledge-based economy, driven by Research & Development to make the UAE a hub for smart economy in the region.”