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FINANCIAL NEWS
UAE encourages businessmen to invest in new markets
01 Dec 2011
(MENAFN) Undersecretary of the Abu Dhabi Department of Economic Development, Mohammad Omar Abdullah, said that in order to diversify the country’s economic sources, the department persuaded UAE businessmen to invest in new markets, mainly Tunisia, reported Gulf News.
Abdullah added that the country started to team up with European and Asian firms in technology transfer and high quality services in order to diversify sources of income.
On the other hand, he said that economic and trade activities of both Abu Dhabi and Dubai accounted for nearly 80 percent of the country’s gross domestic product (GDP).
It is worth noting that last year, UAE’s GDP expanded at current prices by 10 percent to USD297 billion, from USD270 billion in the previous year.
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