Technology

Abu Dhabi companies have invested in US$66-billion worth of developments in Iraq after major signs of support from the UAE government for the war-torn nation, reports The National.

Siemens announced plans to launch a development centre in Doha, Qatar, marking a major move for the company in its drive to develop local access to specialist technology and engineering disciplines. The centre will be hosted at Qatar Science & Technology Park (QSTP), a home for technology-based international companies and part of the Qatar Foundation.

French foreign direct investments (FDI) in the UAE have grown ten times in the past decade, reaching US$3.6 billion in 2009, accounting for 35 per cent of the total French FDI in the Middle East. French civilian exports to the UAE have tripled between 1998 and 2009 reaching US$4.9 billion, according to data by Invest in France Agency (IFA), a body for promoting and facilitating international investment in France.

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The Qatar government will invest US$123.57 billion for local projects during the next ten years, Minister of Economy and Finance Yousef Hussain Kamal has been reported as saying by the Qatar News Agency. Kamal told daily Arabic newspaper Alwatan that Qatar will invest billions of riyals in infrastructure projects, oil, gas and petrochemicals. However, he added that Qatar will continue its investment abroad.