Abu dhabi: The UAE Ministry of Investment and the World Bank have signed a partnership framework aimed at enhancing the UAE's investment climate and reinforcing its status as a premier hub for foreign direct investment. Central to this partnership is a mutual commitment to maintaining a predictable, transparent, and globally competitive investment environment, aligning with the UAE's long-term objectives.
According to Emirates News Agency, the partnership is an extension of the framework agreement established between the World Bank and the UAE Ministry of Finance in 2019. The agreement was signed by Mohammad Abdulrahman Alhawi, Undersecretary of the UAE Ministry of Investment, and Boutheina Guermazi, World Bank Director for Strategy and Operations for the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP) region.
This collaboration will leverage the World Bank's expertise to promote a comprehensive investment reform agenda, strengthening the institutional foundations necessary to attract, retain, and maintain quality investments. The initiative ensures that the UAE is strategically positioned to capitalize on opportunities within the evolving global investment landscape.
Mohammad Abdulrahman Alhawi highlighted the importance of the partnership by stating that it builds on the longstanding collaboration between the UAE and the World Bank. It is anchored in the 2019 framework agreement with the Ministry of Finance and aims to position the UAE as a strategic gateway for global investment. He noted that entering the world's top 10 FDI destinations in 2024 was a significant achievement, and the ambition is to double annual FDI by 2031 to reach US$65 billion, emphasizing the commitment to a transparent, predictable, and competitive investment climate.
Boutheina Guermazi, representing the World Bank, emphasized the organization's commitment to supporting the UAE in developing a world-class investment environment. By integrating global expertise with locally tailored solutions, the partnership aims to attract and retain high-quality investment, driving inclusive and sustainable economic growth.
This partnership aligns with the UAE's strategic vision outlined in its National Investment Strategy, aiming to establish itself as a leading global investment destination. Through deepening institutional collaboration frameworks with the World Bank and other key partners, the UAE is fortifying the foundation needed to continue attracting and retaining transformative capital, accelerating economic diversification, and sustaining its momentum as a dynamic and globally connected investment hub.