UAE minister calls for ‘profound and permanent’ shift in global investment strategy

Sharjah: The UAE has called for a fundamental reset in global investment strategy as economies confront rising uncertainty, fragmentation and shifting development priorities.

Speaking at the opening of the Sharjah Investment Forum, Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the time for incremental reform had passed and urged investors and governments to embrace more lasting, transformative change.

“This important gathering of the global investment promotion community comes as we confront rising uncertainty and fragmentation in the world economy,” said Dr Al Zeyoudi. “Change can no longer be incremental. It needs to be profound and permanent, enabling nations across the world to fully leverage their comparative advantages and make it count on the world stage.”

He said new global realities were forcing policymakers and investors alike to respond to geopolitical shifts and the twin pressures of sustainability and technology adoption. Development priorities, he noted, are now crystallising around renewable energy, large-scale manufacturing and global connectivity.

Dr Al Zeyoudi cited Sharjah as an example of how targeted investment, backed by an ambitious and well-structured investment promotion agency, can reshape a city and broaden its economic base.

He pointed to the Sharjah Investment and Development Authority (Shurooq), established in 2009 to attract foreign investment and channel it into strategic sectors. Fourteen years later, he said, non-oil activity accounts for more than 98% of Sharjah’s GDP, underlining the success of diversification policies.

Sharjah recorded $1.5 billion in FDI inflows in the first half of 2025, more than tripling year-on-year, driven by retail, manufacturing, construction and healthcare projects.

The minister said investment promotion agencies (IPAs) have become central to shaping future growth, not only facilitating inflows but sustaining investor confidence through institutional support.

“It needs the public sector to respond to the needs of the private,” Dr Al Zeyoudi said. “And above all, it needs trust and transparency every step of the way.”

He added that the UAE has now concluded 32 Comprehensive Economic Partnership Agreements, expanding its network of trade partners and supporting outbound investments that reached $23.4 billion in 2024.

“It is up to all of us to build the economies we seek,” Dr Al Zeyoudi said, “and deliver the progress and prosperity our people demand.”