In the keynote speech of the AIM Investment Summit in Abu Dhabi.. Saud bin Saqr: The UAE is capable of formulating a new investment landscape characterized by comprehensiveness, sustainability and internationalism.
Ruler of Ras Al Khaimah:.
• The UAE has proven that when wisdom and a sense of duty combine with vision and hard work, anything becomes possible.
• The commitment of His Highness the President, “may God protect him,” towards the people of the Emirates and its future constitutes a source of inspiration.
• We bet on our national cadres and their future achievements by investing in science, technology and advanced educational institutions.
• During the past ten years, the total number of companies registered in Ras Al Khaimah Free Zones has doubled.
• The volume of trade through the emirate’s ports has increased five times over the past twenty years.
ABU DHABI, 7th May / WAM / His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, affirmed that the UAE realizes the importance of joint action and unifying global efforts to achieve development and prosperity, and believes that it is capable, in cooperation with various countries of the world, of formulating… A new investment landscape characterized by inclusivity, sustainability and internationalism.
This came in the keynote speech delivered by His Highness at the opening of the 13th session of the AIM Investment Summit, in which he participated as a guest of honor and which is hosted by the capital, Abu Dhabi, until May 9, under the slogan “Adapting to the Transformation of the Investment Landscape: Harnessing New Potentials to Develop Economic Development Globally, in the presence of His Excellency Andry Rajoelina, President of the Republic of Madagascar, His Highness Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, His Highness Sheikh Hamed bin Zayed Al Nahyan, His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and His Excellency Sheikh Shakhbout bin Nahyan Al Nahyan, Minister of State Sheikh Khalid bin Saud bin Saqr Al Qasimi, Vice Chairman of the Board of Directors of the Investment and Development Office in Ras Al Khaimah, His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and His Excellency Dr. Ahmed Abul Gheit, Secretary-General. The League of Arab States, with the participation of leaders, ministers, government officials, and decision-makers from various countries of the world, in addition to elite investors, major business companies, emerging, small and medium-sized companies, and international organizations, from more than 175 countries around the world.
In his speech, His Highness highlighted the development and prosperity of the development and investment process in the UAE over the years, and how today it has become a preferred and major destination for foreign direct investment globally.
His Highness spoke about the continuous development process of the UAE, and the ambitious and wise vision of its wise leadership that contributed to achieving achievements and successes for the people of the UAE. He said: “The UAE has proven that when wisdom and a sense of duty combine with vision and hard work, everything becomes possible.” He praised the vision of His Highness. Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, towards the people of the Emirates and its future, which was a true source of inspiration for the people of the country. His Highness showed everyone that with this clear vision and the right plan… the dream becomes a reality.
His Highness stressed that the economic renaissance that the UAE was able to achieve today would have remained just a dream had it not been for the strenuous efforts that were made, indicating that a dream remains a dream unless it is linked to hard work to achieve it, and without a forward-looking vision, a well-thought-out action plan, and a good strategy with a clear goal, perhaps the work will fail. To chaos and waste of resources.
Regarding how to achieve economic renaissance in the country, His Highness said: “We initially directed our strategic resources towards building infrastructure and creating strong institutions, and in the second phase we focused on establishing the soft infrastructure, meaning creating the regulatory, legal, and commercial environment capable of gaining the confidence of investors, and thirdly, and perhaps Most importantly, we made every effort to build the capabilities of our human resources, based on our awareness that educating future generations and leaders is a basic condition for achieving prosperity.”
His Highness added: “We are betting on our national cadres and their future achievements by investing in science, technology and advanced educational institutions, and we do so with full awareness that education is only part of this vision, as we have proven to our people and the entire world that we have awareness and responsibility to learn from our mistakes and challenges. “By demonstrating flexibility, openness and boldness, we quickly rose and attracted the best minds in the world to complement the capabilities of our local talent.”
His Highness reviewed to the audience the achievements of the UAE in numbers, stressing that the UAE today accounts for about a third of foreign direct investments in the Middle East and North Africa region. It ranked second after the United States of America in terms of foreign direct investment in new fields in 2023, which confirms our position. A leading destination for the largest and most successful projects in the world.
His Highness said: “This has allowed us to invest in reshaping our economy, and we have succeeded in reducing the share of oil in the national GDP to less than 30%. Moreover, we look forward to attracting $150 billion in foreign investments by 2031, and to be among the best.” 10 destinations for foreign direct investment.
In his speech, His Highness touched on the Emirate of Ras Al Khaimah and its continuous development renaissance, and said: “The environmental diversity of the Emirate, from the magnificent mountains to the picturesque beaches, has contributed to providing additional means for the prosperity of the people of the Emirates, as our tourism sector in the year 2023 witnessed a growth in the number of visitors that was the largest.” In the history of the emirate, this number is expected to triple by 2030, noting that it has maintained an increase of more than 60% over the past eight years.”
His Highness added: “In parallel with the flourishing of the emirate’s reputation as a leading tourism center in the world, the value of our annual real estate transactions has also doubled from pre-Covid-19 pandemic levels. The total number of companies registered in our free zones has also doubled over the past ten years, all as a result of The volume of trade through our ports has increased five-fold over the past 20 years.
His Highness said at the conclusion of his speech: “The Emiratis innately realize that our future consists of building bridges of relations across borders. We were born with this mentality. We are a country that has relied throughout its history on trade, and we realized how important – and even necessary – it is for development to be a joint effort above all else, and I am confident.” “Together, we can shape a new investment landscape to achieve as comprehensive, sustainable and global growth as possible, and I am pleased to assure you that the United Arab Emirates will assume its full responsibility and continue to play a pivotal role in this framework.”
The following is the text of His Highness’s speech: “Your Highnesses, Excellencies, distinguished guests, may God’s peace, mercy, and blessings be upon you,,,
I am pleased to welcome you all to the opening ceremony of the thirteenth session of the AIM Investment Summit here in our dear capital, Abu Dhabi.
We are meeting here today to discuss investment opportunities that constitute the key factor in the transformation of developing economies into advanced economies
We in the United Arab Emirates focus on investment as a major pillar of our national strategies, and we adopt a sustainable development approach as an essential part of our national identity. The economic renaissance that we have been able to achieve today would have remained just a dream had it not been for the strenuous efforts we have made.
A dream remains a dream unless it is linked to hard work to achieve it. Without a forward-looking vision, a well-thought-out plan of action, and a good strategy with a clear goal, the work may lead to chaos and a waste of resources. Achieving the desired development results inevitably requires possessing wisdom and a sense of national duty.
– How then were we able to achieve this? .
We initially directed our strategic resources towards building infrastructure and creating strong institutions, and in the second phase we focused on establishing soft infrastructure. Meaning creating the regulatory, legal and commercial environment capable of gaining the confidence of investors. Thirdly, and perhaps most importantly, we have made every effort to build the capabilities of our human cadres based on our awareness that educating future generations and leaders is a basic condition for achieving prosperity. We are betting on them and their future achievements by investing in science, technology and educational institutions. We did this with full awareness that education is only part of this vision. In the end, our founding fathers received only a small portion of formal education, but God endowed them with a wise vision whose light we are still guided in our development journey to this day.
We are sincerely indebted to these great leaders, first and foremost the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, who led the way. Today, their vision remains the same without change, led by my brothers, the rulers of the Emirates, and our head of state, His Highness Sheikh Mohammed bin Zayed Al Nahyan, “may God protect him,” who represents a true source of inspiration for all of us in our commitment to our people and our future.
With this clear vision and the right plan… the dream has become a reality and the new generations of Emiratis and residents who have made the UAE their home and contributed to our success story continue to be guided by the light of that vision. Like all other countries, our development path may not be without some mistakes in the future. This is normal, but we have proven to our people and the entire world that we have the awareness and responsibility to learn from our mistakes and challenges, and quickly correct mistakes to continue moving forward on the right path. By showing flexibility, openness and boldness, we were able to rise quickly and attract the best minds in the world to complement the capabilities of our local talents.
Allow me to review with you these achievements in the language of numbers
Today, the UAE accounts for about a third of foreign direct investments in the Middle East and North Africa region
The UAE also ranked second after the United States of America in terms of foreign direct investment in new fields in the year 2023, which confirms our position as a leading destination for the largest and most successful projects in the world.
This allowed us to invest in reshaping our economy, and as a result we succeeded in reducing the share of oil in national GDP to less than 30%.
Moreover, we aspire to attract $150 billion in foreign investment by 2031, and to be among the top 10 destinations for foreign direct investment.
But this is only one path. Today, we occupy a leading position among the top 15 countries in global foreign direct investment. These numbers do not only mean economic success, but also economic growth. It also means developing new places for excellence in several sectors, such as
Renewable energy
Fintech and financial services
Artificial intelligence and digital assets
Space science
Logistics services
Aviation sector
tourism
Ladies and Gentlemen,
Allow me now to talk specifically about our distinguished emirate, Ras Al Khaimah.
Ras Al Khaimah is one of the oldest inhabited places on the planet, and it is a distinguished destination that embraces many cultures that contribute to its continued growth and prosperity.
– The emirate’s environmental diversity, from the magnificent mountains to the picturesque beaches, has contributed to providing additional ways for our people to flourish.
In 2023, our tourism sector witnessed a growth in the number of visitors that was the largest in the history of the emirate, and this number is expected to triple by 2030, noting that it has maintained an increase of more than 60% during the past eight years.
In parallel with the flourishing of the emirate’s reputation as a leading tourism center in the world, the value of our annual real estate transactions has also doubled from levels before the “Covid-19” pandemic.
The total number of companies registered in our free zones has also doubled over the past ten years.
– All of this is a result of the five-fold increase in the volume of trade through our ports over the past twenty years.
Our economic ambitions have always been in harmony with our environment and our communities, as our vision in Ras Al Khaimah is based on four basic pillars:
Empowering citizens to build their future
Providing a natural environment that protects our historical and cultural identity
An effective government builds bridges of progress and prosperity
Building a sustainable and vibrant economy that provides the necessary reasons and components to achieve a better future.
Today, our emirate is home to an elite group of famous international companies that have found us a home for success and prosperity.
New horizons of success await us, and I hope that some of those here will join in on our journey.
Ladies and Gentlemen,
I began my speech by saying that when wisdom and a sense of duty combine with vision and hard work, then anything becomes possible.
The UAE has proven that systematic investment and sound development will inevitably be accompanied by national success that reflects positively on the entire world.
Just as the world’s oceans intertwine with each other, so our human civilizations have been and continue to be interconnected since ancient times.
Blue and white porcelain from the Yuan Dynasty in the thirteenth and fourteenth centuries was recently found in Ras Al Khaimah.
Due to the scarcity of finding this ceramic in areas far from China, archaeologists began, with this discovery, to understand the depth of our trade with China along the ancient Silk Road.
– In the 15th century, the famous Ras Al Khaimah navigator Ahmed bin Majid was trading across the seas – exploring new frontiers, new cultures, and looking to build new relationships.
The Emiratis were and still are instinctively aware that our future lies in building bridges of relations across borders.
We were born with this mentality, as we are a country that has relied throughout its history on trade.
We realized how important – and even necessary – it is for development to be a joint effort above all else.
– I am completely confident that together we can shape a new investment landscape to achieve growth that is as comprehensive, sustainable and global as possible.
– I am pleased to assure you that the United Arab Emirates will assume its full responsibility and continue to play a pivotal role in this framework.
– I wish you all a successful conference.
– I extend my sincere thanks and gratitude to all of you.
– Peace, mercy and blessings of God”.
The summit, which is an initiative of the global AIM Foundation and the world’s leading investment platform, aims to bring together global leaders, policy makers, investors, businessmen, experts, major companies and global organizations to discuss and formulate investment strategies and policies, promote investment and economic opportunities, strengthen international economic relations, and come up with innovative solutions to confront current challenges and changes. And global futurism, leading to a prosperous and sustainable global economy.
The opening program of the summit on its first day included delivering a set of keynote speeches and direct discussion sessions for senior policy makers and senior businessmen, with the aim of exchanging knowledge, experiences and visions with the participants on how to adapt to the transformations of the global investment landscape and find solutions to confront the challenges. The list of speakers included officials and important economic figures. .
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