Why the UAE, Qatar can expect to see ‘flood of investment’ after reconciliation

Why the UAE, Qatar can expect to see ‘flood of investment’ after reconciliation

The historic deal to end the regional dispute between the UAE and Qatar will see a “flood of investment” between the two countries, according to Scott Cairns, managing director of Dubai-based Creative Business Consultants.

The UAE was joined by Saudi Arabia, Bahrain and Egypt in signing the accord with Qatar on Tuesday in a mirrored concert hall in the northwestern Saudi town of Al Ula, during a summit of Gulf Cooperation Council (GCC) leaders.

It brings the regional split, which erupted in 2017, to an end.

The end of the rift between Doha and the UAE, Saudi Arabia and Egypt will lift a number of industries, and jobs prospects, says recruitment expert

In terms of the UAE, Cairns told Arabian Business that the agreement would have particular benefit for the country's construction industry, which has been hit particularly hard by the coronavirus crisis and the drop in oil prices.

He said: “We anticipate a flood of investment between the UAE and Qatar upon the borders and trade opening up again. This will be a much-needed shot in the arm for the UAE construction industry which has previously put many projects on hold.

“Inward investment from Qatar could see a reinvigorated construction industry in the UAE as