{"id":157348,"date":"2018-04-09T11:42:51","date_gmt":"2018-04-09T13:42:51","guid":{"rendered":"https:\/\/anba.com.br\/?p=157348"},"modified":"2018-04-10T13:50:48","modified_gmt":"2018-04-10T15:50:48","slug":"brazil-uae-much-done-drive-investments","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazil-uae-much-done-drive-investments\/","title":{"rendered":"Brazil and UAE: much to be done to drive investment"},"content":{"rendered":"

Dubai \u2013 The UAE minister of Economy, Sultan Bin Said Al Mansoori, said there is a lot of work to be done to drive direct investment flows between his country and Brazil.<\/p>\n

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Mansoori: countries must better tap into one another’s potential<\/figcaption><\/figure>\n

\u201cDespite numerous visits by Brazilian leaders, we have yet to witness an impact on investment flows, from Brazil into the UAE or vice versa, from the UAE into Brazil,\u201d Mansoori said in answering a question from ANBA during a press conference following the opening of the Annual Investment Meeting (AIM), this Monday (9) in Dubai. \u201cMuch more needs be done,\u201d the minister added.<\/p>\n

He also said both countries must better explore one another\u2019s potential. \u201cBrazil is a huge economy, not only within Latin America, but worldwide, and we must gain a better understanding of the fields and sectors that you would like us to invest in, and on the other hand we would like to see more Brazilian companies coming to the UAE to invest and to [reach out to] our region,\u201d he asserted.<\/p>\n

Mansoori noted that he was in Brazil in 2013 and liked what he saw. \u201cI was glad to see what was happening with UAE-Brazil ties in terms of trade and investment,\u201d he said. \u201cThere are lots of Brazilian goods available here in the UAE. Food security is important to us, and Brazil \u2013 as one of the leading [food] exporters \u2013 certainly supplies the UAE and the region,\u201d he said.<\/p>\n

The minister also pointed out that the UAE has investments in Brazil, like the terminal operated by Dubai\u2019s DP World in the Port of Santos. \u201cThey seem to be doing well there,\u201d he remarked.<\/p>\n

In the UAE<\/strong><\/p>\n

As for the UAE, Mansoori said the country is looking to draw investors primarily into the process industries, pharmaceuticals, renewable energies, and the information technologies industry as a whole.<\/p>\n

To this end, the local government is about to pass an investment law to protect investors\u2019 rights, even though the minister guaranteed that the country already boasts a safe environment. \u201cWhen it comes to innovation, for instance, we must be flexible. Entrepreneurs want to own more than 49% of businesses, so more openness is required. This is the route the UAE are taking,\u201d he said. Apart from free zones, non-natives are required to have a local partner and cannot retain more than 49% of any enterprise.<\/p>\n

The country intends to increase the process industries\u2019 share of the Gross Domestic Product (GDP) from 9.5% to 15% and to get innovation to account for 5% of GDP.<\/p>\n

Mansoori also said GDP is expected to grow in the 3.6%-to-3.9% range, but it is too soon to be certain, since factors like oil prices and the political scenario across the region can impact performance. An oil price hike, for instance, could trigger growth.<\/p>\n

Translated by Gabriel Pomerancblum<\/strong><\/p>\n

Press Release<\/div>\n
Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"

So said UAE minister of Economy Sultan Bin Said Al Mansoori at the opening of the Annual Investment Meeting in Dubai this Monday (9).<\/p>\n","protected":false},"author":1454,"featured_media":157317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-157348","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"So said UAE minister of Economy Sultan Bin Said Al Mansoori at the opening of the Annual Investment Meeting in Dubai this Monday (9).","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/157348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/1454"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=157348"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/157348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/157317"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=157348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=157348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=157348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}