Record highs in the local financial markets and a market value of more than two trillion dirhams.
The UAE continues to transform challenges into opportunities with exceptional achievements in the fiftieth year.
– “The Emirates Investment Summit” and “Comprehensive Integration Agreements” “Raising Partnership Levels”.
3 main drivers of the economy in the UAE 2022.
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ABU DHABI, 23 February / WAM / 10 major scenes that took place during the year 2021 depicted the features of the future of the economy in the Emirates, to constitute 2021 an ideal culmination of five decades since the founding of the United Arab Emirates with exceptional and qualitative achievements that the Emirates entered into the future, to obtain on November 25, 2021 an international consensus Through the United Nations Educational, Scientific and Cultural Organization “UNESCO” as a country for the future and a major station for its industry, by adopting the second of December, the UAE National Day, as the International Day for the Future.
The year 2022 carries many qualitative economic initiatives and plans that enhance the UAE’s directions for the next fifty years, at the forefront of which are 3 main drivers, including: comprehensive integration agreements with several countries, raising the levels of partnership, economic and trade exchange with other countries, with the completion of the 2021 initiatives, including the holding of the Emirates Investment Summit during The first quarter of this year to build sustainable partnerships between governments, global investors and private sector companies, with the aim of attracting 550 billion dirhams of foreign direct investment into the country over the next nine years.
The scenes of 2021 carried various titles, most notably: Record numbers in global competitiveness.. A five-year federal budget.. An industrial strategy worth 300 billion dirhams.. The launch of the Murban crude platform.. The launch of the initiative to double the upcoming investments of the state and double the rates of foreign trade.. Resumption of flights and growth. Passenger numbers.. The start of the World Expo 2020 Dubai..
Adopting the largest legislative development in the history of the UAE.. Launching the fifty initiatives packages.. Recording growth rates ranging from 2 to 4%.
These scenes were reflected in the trading of the local capital markets in the UAE, so that the Abu Dhabi Stock Exchange index ended its dealings for the year 2021 at 8,488 points, the highest closing level of the index ever, rising by 3,443 points during 2021 and a growth of 68%, and the market values of Abu Dhabi shares jumped to 1.626 trillion dirhams, Liquidity rose to 369.5 billion dirhams, and 110 billion shares were traded.
The Dubai Financial Market Index also achieved the highest performance level since 2013, to close in the last session of 2021 at 3195.9 points, an increase of 704 points during 2021, or 28%, with the market capitalization rising to 411 billion dirhams and a liquidity ratio of 70.4 billion dirhams.
The UAE has continued its approach of transforming challenges into opportunities so that the year 2021 will be a turning point in the country’s march in various sectors, in the forefront of the economic fields through strategic visions and accelerated and early preparations to enter the next fifty years with ambitions to achieve prosperity and prosperity.
The UAE’s announced plans and ambitions during the year 2021 aim to enhance and diversify opportunities in several areas, including: “artificial intelligence, digital economy, circular economy, innovation, space, health, agriculture, advanced industries, health care, and food industries,” in addition to adopting innovative economic models. It accommodates the new global trends and enhances the benefit from the investment environment, especially after the issuance of decisions allowing full ownership of companies and projects by the foreign investor in all sectors and activities except for sectors with strategic impact, in a way that enhances the development process during the next fifty years and contributes to achieving the aspirations of the UAE.
These plans included: the industrial strategy to work to increase the share of the industrial sector’s contribution to the country’s domestic product to 300 billion dirhams, compared to 133 billion dirhams currently, and a plan to double the volume of foreign trade to 3 trillion dirhams during the same period, with an increase of 1.5 trillion dirhams, and maintaining an annual economic output exceeding 1.5 trillion dirhams, and nearly 600 billion dirhams invested in renewable energy to reach climate neutrality by 2050.
It also included achieving economic returns of 200 billion dirhams as a result of operating the Etihad train, whose investments amounted to 50 billion dirhams, approving the federal budget by about 290 billion dirhams until 2026, increasing the contribution of the value-added program from 22 billion dirhams to 55 billion dirhams by 2025, and achieving an annual increase of 45 One billion dirhams with 10 foreign markets through the “10 x 10” program, as part of the first package of the fifty initiatives, which was launched in September of 2021.
Continuous growth.
On a related path, the Arab Monetary Fund expected the UAE’s GDP to grow by about 2.3% during 2021, with growth rising to 4% in 2022 and 4.1% in 2023, indicating that these expectations are in line with the expectations of international organizations, while the UAE Central Bank said In his last quarterly report for 2021, he expects the economy to grow by 4.2 percent in 2022, achieving an increase from the growth rate he achieved last year and amounting to 2.1 percent during 2021.
Tourism and aviation.
The number of passengers through Dubai International Airport increased during the year 2021 to more than 29.11 million passengers, a growth of 12.4% over the year 2020, while the number of passengers through Abu Dhabi International Airport reached about 5.26 million passengers, while the country’s national carriers recorded strong growth in flight occupancy and the restart of destinations around the world. It recorded a growth in the number of passengers on its flights, as it succeeded in resuming flights to about 500 destinations in 110 countries around the world.
Competitive numbers.
The UAE ranked first in the world in 152 indicators, among the top 5 countries in the world in 274 indicators, and among the top 10 countries in 425 global indicators, according to the Yearbook of Global Competitiveness 2021, where the UAE ranked first in a number of economic sectors, including the indicator of finance and taxation, economy, technology advanced, energy.
The year 2021 also witnessed the return of the exhibition and conference sector with a force that exceeded the pre-pandemic years, especially during the last quarter. Investments from all regions of the world.
– Attracting money.
The UAE ranked first regionally in the Middle East and Africa in attracting venture capital invested in emerging projects, according to the “Magnet” platform report for the year 2022, which described the UAE as the most active market in the Middle East and Africa, where it succeeded in attracting venture capital, totaling up to About 4.3 billion dirhams (1.165 billion dollars) in 2021, a growth of 93% over the value achieved in 2020.
Abu Dhabi Stock Exchange.
The year 2021 witnessed the official launch of the Abu Dhabi National Petrol Company “ADNOC” and the “Intercontinental Exchange” in March 2021, the global trading of the distinguished UAE crude “Murban” as futures contracts on the new “Abu Dhabi Intercontinental Futures Exchange”, to start trading Murban crude along with standard raw materials. Like Brent and West Texas Intermediate on the Intercontinental Exchange network.
Stock markets…
During the year 2021, several factors contributed to the recovery of the UAE financial markets, foremost of which are: the initial offerings of the Abu Dhabi market for a number of companies, the success of the vaccination campaign, the complete reopening of the economy, the rise in oil prices, and talk of offering 10 companies to the Dubai Financial Market during the first quarter of the year. 2022.
January 2021 witnessed the start of trading of the first real estate investment funds “REITs” in the Dubai market, and the listing of Alpha Abu Dhabi Holding in the Abu Dhabi market during June, and the market value of the Abu Dhabi market exceeded one trillion dirhams for the first time.
The Abu Dhabi Securities Exchange’s decision to reduce trading commissions on all deals by 50% came into effect starting from Tuesday, September 1, and trading hours in the Abu Dhabi and Dubai markets were extended for an additional hour, provided that trading opens at 10 am and continues until 3 pm as of From October 3, 2021, in order to align the local trading markets with the global financial markets and increase the liquidity of the markets by attracting a wider segment of foreign investors.
In November of the year 2021, His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, “may God protect him”, approved the largest project to develop federal legislation and laws in the countries to include more than 40 laws with the aim of enhancing the economic environment and investment and commercial infrastructure in the Emirates, in addition to supporting security and stability society, and preserving the rights of individuals and institutions alike, in an integrated package of laws and their amendments that keep pace with the renaissance and aspirations of the Emirates.
The amendments included the development of a legislative structure that includes laws related to the investment, commercial and industrial sectors, the laws of commercial companies, the regulation and protection of industrial property, trademarks, the commercial registry, and electronic transactions.
In January 2022, the results of a Archyde.com survey showed that the UAE economy will achieve a growth rate of 4.8% during the current year 2022, which is the highest witnessed by the country in its gross domestic product since 2015.
And this February, the annual “Agility” Logistics Index for Emerging Markets for the year 2022 showed that the UAE topped the list of the Gulf Cooperation Council countries in terms of the most competitive emerging markets and ranked third in the world after China and India. The UAE also outperformed all 50 countries included in the index for providing the best environments for doing business and its digital readiness, and the UAE topped all the countries in the index in terms of the basics of doing business.