Wednesday , April 14 2021

The economy of the United Arab Emirates was expected to reach 3.2% in 2018



15 11 2018

UBS's asset management manager for UBS's financial statement:

Dr. Niels Zilkins, Head of Asset Management in the Arabian Gulf, said: "Me. Switzerland's GDP growth in the UAE from 1.4% in the previous year to 3.2% in 2018, growth in the next year.

"These positive forecasts are based on high oil prices and government spending growth," he said explicitly about the economic outlook. "Expo 2020 Dubai's growing investment needs continue to boost economic growth.

He added that the country's business environment significantly improved and the money supply has grown as a result of the high oil price of the oil, which led to the recovery of the oil revenue from the financial system and underlined that the government's policy in the financial sector was broader than the previous year.

competitive

He predicted that the strategy for economic reform will bring fruit by improving the business environment and diversifying its financial position with one of the most competitive economies in the Persian Gulf, and the Doing Business 2019 report released by World Bank 11th World Trade Center.

It is the 27th most competitive economy in the world, the world's economic forum.

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He added that the important economic measures recently announced by the state, including the issuing of foreign investment laws, allow foreign investors 100% ownership in certain areas outside the free zone.

Reforms in addition to the visa regime have an impact on economic diversification and direct investment, for example tourism, industry, energy, transport, logistics and the media.

optimism

"The United Arab Emirates is also one of the leading asset management markets, and the optimism of government and government plans to promote economic growth and diversification," he says. "Trust is to maintain its position as one of the most important growth markets in the region.

activities

He explained that the customers «U. Me. "The largest investment in the region's largest investment bank, the largest investor investor, shows that investors from the United Arab Emirates are successful with many European and Asian investors in the field of sustainable investment.

"UAE investors do not feel that they have an over leverage effect and they believe that sustainable investments will become more common in the future." According to the study, three-quarters of UAE investors expect a sustainable investment to be the foundation for investment for a decade.

advantage

He said Finnec's technology and innovations are at the forefront of existing customers and are eager to see the latest achievements in these areas. For this reason, the Bank has organized financial services technology and the Block Qin event, the company «McKenzie».

He pointed out that the bank «U. Me. S is currently heavily investing in areas such as Artificial Intelligence, Block Qin, Cloud Computing, and Massive Data, as well as further improving customer experience by providing seamless and easy-to-use digital offers for them.

In July, the bank experimented with a digital personal assistant who used meetings with clients on a special screen, which could be used to support simple banking functions and the ability of an investment adviser to help consultants to make more complex and market-specific dialogues with customers.

direction

In his view, intelligent transport (intelligent transport), intelligent technologies (self-regulation) and intelligent modes of use (car sharing / It will lead to long-term renewal of the sector.

We are currently working on these events so that we can offer our customers the latest insight into the investment opportunities offered by these technologies.

The global asset management company UBS is pleased with the business of its area and has recently doubled its staff at Dubai headquarters in less than three years. Continue growth and expansion in the Middle East and North Africa.

© Announcement 2018


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