In an effort to encourage foreign investors to bring their capital to Abu Dhabi, the UAE has set up a “consolidated investment map,” according to a report in the Khaleej Times. Together with the Ministry of Economy’s Investment Department, Dar-Al-Tawasol (a private marketing firm) has developed a “strategy to market the investment potential of the seven emirates to the global investors, in a project that would span seven years.” By the end of the year, as noted by the marketing company’s CEO, Feras Dahlan, four investment promotion offices will be open with plans for more in the coming years.
Deciphering the Map
So what would the map do? According to Dahlan, it would “disseminate information to potential investors, and guide them into the country.” He explained this to diplomats in Abu Dhabi. It is hoped that efforts will be coordinated to “promote the UAE as an investment hub” through these offices. As a way of bringing initial investments, the first focus will be on the 12 industrial nations: Argentina, Brazil, China, Germany, India, Italy, Japan, South Korea, Spain, Turkey, UK and the US.
The main areas of possible investment will be: aluminum, automotive, aviation, energy, renewable energy and ICT sectors. It seems that these areas specifically have a “huge potential to attract foreign investment.” There are other areas that also might be attractive to foreign investors such as: education, health, finances and tourism.
The project is due to start in Abu Dhabi via an international investors’ conference on November 9th to 11th. The aim is that this conference will become an annual event and will be held in a different emirate each year, on a rotation basis. It also seeks to: “highlight the investment opportunities in the each of the federating units in line with their investment plans.”