UAE announces plans to boost economy, attract workers

Emirates plans to attract $150bn in foreign direct investment in next nine years, government officials say.

The United Arab Emirates plans to launch 50 new economic initiatives to boost the country’s competitiveness and attract 550 billion dirhams ($150bn) in foreign direct investment in the next nine years, government officials have said. The projects, some of which were unveiled on Sunday, include investing in technology and creating new visas to attract residents and skilled workers. The Gulf state has launched several measures over the past year to attract investment and foreigners to help the economy recover from the effects of the COVID-19 pandemic.