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UAE 'a major investment magnet' - Lubna

The UAE is one of the major magnets of foreign investment in the region, Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade said recently.

?Economic diversification, flexible economic and investment legislations, policy of encouragement of foreign investment, free competition and advanced education systems have allied together to make the UAE one of the key  destination for foreign direct investment and global capital,? Shaikha Lubna said during a meeting with visiting Armenia Deputy Prime Minister ?Armen Gevorgyan.
She said the UAE was keen to develop commercial and investment cooperation with Armenia.
She added the two countries need to communicate with each other to exchange development experiences and experiments and spur the private sector to tap available investment opportunities so as to boost economic development.
For his part, the Armenian minister said his country was determined to enhance its bilateral co-operation with the UAE in various fields.
He said the UAE is among the top priorities of the Armenian government plans to expand cooperation with in the Gulf region given its financial, business and economic weight and potentials and global competitive edge.
Meanwhile, stock markets in the Emirates could gain 25 per cent this year, helped by attractive valuations and faster earnings growth, a report from the UAE?s biggest investment bank said.
A successful resolution to Dubai World?s planned debt restructuring would also benefit local markets, Shuaa Capital said.
The bank said investors might have given too much weight to negative news related to the Dubai Government-owned conglomerate.
While global stock markets rebounded last year from the sharp corrections seen at the height of the global financial crisis, regional bourses were slower to emerge from the trough.