UAE's economy developing thanks to its global openness: Arab League Chief
Cooperation key to regional investment opportunities, said Aboul Gheit
Abu Dhabi: Ahmed Aboul Gheit, Secretary-General of the Arab League, said that the UAE's openness to the world has ensured its economic progress over the past two decades.
Speaking to the Emirates News Agency (WAM) during the Annual Investment Meeting in Abu Dhabi, the AL Chief said that the meeting is a platform for connecting Arab business leaders and investors to explore investment prospects available in the Arab region.
The event’s sessions addressed the challenges that impede the growth of investments in Arab countries, he said, affirming the importance of promoting cooperation to benefit from major investment opportunities in the region.
Aboul Gheit said that political, economic and monetary stability are essential for attracting FDI inflows, noting that a conducive legal ecosystem and good governance are necessary to safeguard invested capital, help achieve intended objectives and accelerate FDIs.
Despite having considerable potential, Arab countries have received very low direct investments over the past 20 years due to regional crises that began in 2011 and reduced capital value, he added.