UAE bucks trend on economy blues – GulfToday

UAE bucks trend on economy blues – GulfToday

There is no gainsaying the fact that the UAE is bucking the trend by daring the coronavirus challenge. At a time when the economy is facing a downturn in many parts of the world due to the pandemic, the UAE has been not only been gaining investments from other countries but also venturing into capital investments in other nations. To illustrate. In implementation of the directives of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the UAE has announced that it will invest $10 billion with Indonesia’s sovereign wealth fund – Indonesia Investment Authority. Investments will focus on strategic sectors in Indonesia, including infrastructure, roads, ports, tourism, agriculture, and other promising sectors that have potential for growth and can contribute to growth and economic and social progress. The UAE also announced a $3 billion investment in Iraq in a fresh bid to strengthen the economic and investment relations between the two nations. The new investments are aimed to tap new prospects of partnerships between the two countries and accelerating socio-economic and developmental growth in support of the people of Iraq. However, investment is not a one-way