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UAE Embarks On 2031 National Investment Strategy To Boost Annual Foreign Inflows

by News Editor

The UAE has set a bold vision with its National Investment Strategy 2031, targeting an elevation in annual foreign investment inflows from AED112 billion ($30.5 billion) in 2023 to AED240 billion ($65.4 billion) by 2031. His Highness Sheikh Mohammed bin Rashid Al Maktoum highlighted the strategy’s goal to transform the UAE into a premier global investment hub. Aiming to swell the foreign direct investment stock from AED800 billion to AED2.2 trillion, this strategy focuses on key sectors: industry, financial services, transport and logistics, renewable energy, and telecommunications.

Key Initiatives And Economic Contributions

The approved strategy includes 12 new programs and 30 distinct initiatives, such as the Financial Sector Development and the Investment Offices Promotion Incubator. Currently, foreign direct investment contributes significantly to the GDP, with predictions to increase its share to over 30% of the total investments by 2031.

Dive deeper into the global market shifts in Wall Street Tumbles Amid Trade Tensions.

Technological And Digital Advancements

The strategy outlines the UAE’s vision to become a digital economy powerhouse by 2031, intending to enhance the digital economy’s current contribution to GDP from 9.7% to 19.4%. The Industrial Technology Transformation Index (ITTI) will also play a pivotal role in gauging technological advances and sustainability practices.

The introduction of a remote work system and the launch of the National Green Certificates Program further highlight the UAE’s efforts to harness global talent and promote sustainable development.

Larnaca To Invest €6.2 Million In Ayios Ioannis Neighbourhood Upgrade

by News Editor

Larnaca is moving into the final phase of a €6.2 million redevelopment of the Ayios Ioannis neighbourhood, with upgrades focused on roads, public spaces, pedestrian access and cycling infrastructure.

Mayor Andreas Vyras and members of the community council met residents on Wednesday at the Ayios Ioannis Theologos churchyard to outline the next stage of the project. Construction will require sections of the road network to be excavated, with traffic diversions introduced gradually as works progress.

Roads, Pavements And Transport Infrastructure

Planned works include resurfacing and upgrading roads, widening pavements and restructuring parking areas. New bus lanes will also be created, while utility networks will be moved underground.

The project is designed to improve accessibility and encourage more sustainable forms of mobility, with greater emphasis on walking and cycling.

More Green Space And Heritage Features

Alongside the transport improvements, the redevelopment will add trees and expand green areas across the neighbourhood. Plans also call for the area’s historical and cultural features to be highlighted as part of the wider regeneration.

The project is being co-funded by the Republic of Cyprus and Larnaca municipality and is expected to take 24 months to complete.

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