H.H. Sheikh Khalifa bin Zayed bin Sultan Al Nahyan, the President of United Arab Emirates, Ruler of Abu Dhabi, issued the first law for the year 2019 aiming at establishing the Abu Dhabi Investment Office and the Law Number 2 of 2019 on the organization of public-private partnership.
According to the official UAE news agency WAM, the office is concerned with the preparation of investment plans and programs aimed at encouraging domestic and foreign investment, ensuring the sustainability of the investment climate, developing the local investment system and promoting the emirate as an attractive destination for local investments. The office is vital to Abu Dhabi's goal of achieving an annual growth of over 10 percent for the FDI.
The second law aims to organize the partnership between the public and private sectors, which aims to encourage the private sector to participate in development projects and increase investment in various fields to serve the economic and social development in the emirate and enable the government to implement its strategic projects efficiently and effectively.
Source (CNBC Arabic site, Edited)
