MENA | UAE’s 50 initiatives; Abu Dhabi fees; solid regional PMIs
New rules on residency visas are just part of the 50 economic initiatives
announced by the UAE to celebrate its golden jubilee. The measures include
new visa categories to attract and retain skilled workers in the country’s latest bid to diversify its economy away from dependence on oil.
What you will learn:
- Abu Dhabi has also introduced reforms on fees to improve the ease of doing business, attract investment and innovation and boost economic growth.
- Regional PMIs showed continued expansion in the non-oil sector in August.
- The UAE posted a reading of 53.8, with strong growth in business activity and employment. Saudi Arabia showed a loss in momentum with a reading of 54.1, down from 55.8 in July, but still comfortably above the 50 no-change mark, while Qatar’s PMI rose to 58.2, the second highest on record.
- The UAE has launched fifty economic initiatives this week in the run-up to its golden jubilee in December and ahead of the global summit next year.
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