"Economy and tourism" The International Finance Corporation is discussing enhancing cooperation
Dubai, 4 November / WAM / His Excellency Abdullah bin Touq Al Marri, Minister of Economy and Tourism, stressed the UAE’s keenness to enhance cooperation and build partnerships with international financial institutions and other global financial institutions and major investment companies, and to contribute to the implementation of development projects in vital economic sectors, which contributes to strengthening the country’s role as an effective partner for sustainable economic development at the regional and international levels, and consolidating its position as a leading global destination for business and investment. This came during a meeting held by His Excellency Mokhtar Diop, Managing Director of the International Finance Corporation (IFC), and his accompanying delegation, at the Ministry’s headquarters in Dubai, with the aim of enhancing cooperation opportunities in the fields of tourism investment, finance and the new economy, within the framework of the role played by the institution in supporting sustainable economic development efforts, stimulating investment in rapidly growing sectors, and promoting the shift towards innovative and flexible economic models. During the meeting, His Excellency Abdullah bin Touq reviewed the new economic model of the UAE based on knowledge and innovation, and its role in confronting global economic and geopolitical changes, and increasing the diversification of the national economy, especially since the percentage of non-oil sectors’ contribution to the country’s gross domestic product reached more than 77% during the first quarter of the year 2025.
He explained that this model contributed to increasing the UAE’s attractiveness for companies and investments in advanced economic sectors, including financial technology, entrepreneurship, small and medium enterprises, tourism, clean energy, sustainable manufacturing, smart transportation, and the circular economy. His Excellency pointed out that the UAE economy continues to grow in light of flexible and competitive economic policies and legislation and economic partnerships with many strategic markets at the regional and global levels, as the non-oil gross domestic product achieved a growth of 5.3%, with a value amounting to 352 billion dirhams during the first quarter of the current year. In detail, during the meeting, the two sides discussed aspects of cooperation between the UAE and the International Finance Corporation to enhance UAE investments in emerging markets in Latin America, which are characterized by great growth opportunities and promising potential in various economic sectors.
The two sides stressed the importance of strengthening partnerships and benefiting from global expertise to attract investments and support Emirati companies to expand their business in these promising markets. His Excellency Abdullah bin Touq was briefed on the International Finance Corporation’s work plans in the country and its partnerships with Emirati investment funds and companies, which aim to expand Emirati investments in sustainable economic sectors and support investment opportunities in emerging markets.
The two sides discussed the vision of the Ministry of Economy and Tourism to encourage investment and establish partnerships in various sustainable tourism sectors and fields, in a way that enhances the development of tourism infrastructure, encourages the adoption of environmentally friendly projects, and contributes to enhancing the country’s competitiveness as a global destination for sustainable tourism.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
