dubai hosts summit positions self
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

as Africa investment hub

Dubai hosts summit, positions self

Arab Today, arab today

Arab Today, arab today Dubai hosts summit, positions self

Sheikh Mohammed bin Rashid al-Maktoum, Uganda's President Yoweri Museveni.
Dubai - Arab Today

African officials, including four heads of state, convened with international CEOs at a summit Wednesday in Dubai, part of its push to position itself as a link for huge potential investments on the continent.

"We are looking at the fastest growing economy of the world ... Six out of the top 10 fastest growing economies are just next to us in Africa," said the president and CEO of the Dubai Chamber of Commerce and Industry, Hamad Buamim.

Experts at the opening of "Next Generation Africa", Dubai's fourth Global Business Forum on Africa, said the continent's 54 countries -- home to a fifth of the world's population -- require tens of billions of dollars in investment in infrastructure, energy and other sectors.

Investment, Emirati officials hope, will be channeled through Dubai, a trading hub and member of the United Arab Emirates.

"We believe that Dubai's strategic goals can be aligned with Africa's ambitions as it enters a new phase of development," said the Dubai chamber chairman, Majid Saif al-Ghurair.

The number of African companies registered in Dubai jumped to 17,000 last year, an increase of 41 percent from 2015, according to Ghurair.

Trade volume between UAE and Africa totals around $35 billion and has been growing at a double-digit rate annually.

"We see potential of a growing economy that has a lot of future ... Africa is a great market," Buamim told AFP on the sidelines of the two-day forum that has attracted four heads of state from Africa, several ministers and hundreds of investors and experts.

He said the forum is held to help channel investments to Africa through Dubai.

Rwandan President Paul Kagame told the meeting that Africa is witnessing speedy reforms and a faster pace of integration, especially among a number of regional economic blocs formed in the continent.

"A number of steps have been taken and progress has been made ... In the next five to 10 years, we will see progress," in the integration between the various economic blocs, Kagame said.

The president said a number of economic unity initiatives had been adopted in Africa in the fields of customs unions, infrastructure projects, electricity links and railway networks.

"Later on, the regional economic communities will join together ... integration is happening," said Kagame, as he called for greater investment inflow into Africa.

The Infrastructure Consortium for Africa (ICA) said last month the continent must double its spending on infrastructure over coming years after a decline in 2016.

Last year, total investment in transport, energy, water and IT/communications amounted to $62.5 billion, down from $78.9 billion in 2015, it said.

Investments worth between $120 billion and $140 billion is needed in the short-term, said the report.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai hosts summit positions self dubai hosts summit positions self

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai hosts summit positions self dubai hosts summit positions self

 



GMT 04:22 2017 Tuesday ,26 December

Israel in touch with '10 countries' over embassy moves

GMT 19:43 2017 Friday ,06 October

Employee safety top priority at Khalifa Port

GMT 16:19 2017 Friday ,28 April

ISIS Suspect Arrested in Western Germany

GMT 12:57 2017 Monday ,11 December

50 Students Poisoned by Contaminated Well Water

GMT 16:31 2017 Thursday ,10 August

Palestinians will discuss decline of aids

GMT 21:15 2017 Saturday ,04 March

Obama never ordered surveillance on any US citizen

GMT 10:00 2017 Thursday ,09 March

Russia ‘can be good friends with GCC’

GMT 02:13 2017 Wednesday ,22 February

Russian helicopter crash kills 19 in Siberia

GMT 13:23 2017 Tuesday ,05 December

Lebanon PM Hariri rescinds resignation

GMT 00:39 2017 Tuesday ,05 December

Gunmen kill cleric in Aden, southern Yemen

GMT 11:43 2016 Thursday ,24 November

Will learn from Euro exit

GMT 06:56 2017 Tuesday ,17 October

US ‘not taking sides’ between Iraqi forces, Kurds

GMT 19:59 2017 Thursday ,16 February

Syrian opposition's chief negotiator arrives in Astana

GMT 15:41 2017 Thursday ,29 June

US sets new visa rules for 6 mainly Muslim nations

GMT 19:31 2017 Saturday ,11 February

Earthquake Hits Taiwan

GMT 15:30 2017 Monday ,27 November

Syrian government will not join peace talks on Monday

GMT 16:20 2017 Tuesday ,31 October

La Rochelle survive red card to down Toulouse

GMT 20:33 2018 Tuesday ,16 January

Bahraini official receives UAE Ambassador

GMT 22:40 2018 Monday ,08 January

Bahrain to host first Baby Games
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday