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

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.

Cyprus Livestock Industry Navigates Hemorrhagic Fever Impact

The recent outbreak of hemorrhagic fever has stirred concern among professionals in the livestock sector. Industry insiders report a modest 10% increase in lamb prices, while both production and export volumes of halloumi remain resilient.

Market Dynamics And Price Adjustments

Kostas Leivadotius, President of the Pan-Cypriot Meat Retailers Association, said supply has tightened following movement restrictions. Lamb prices increased from about €11 to €12 after detection of the virus, while pork and beef prices remain unchanged.

Production And Slaughter Statistics

Leivadotius said around 700,000 animals are slaughtered annually in Cyprus, including approximately 20,000 cattle, 450,000 pigs, and 200,000 lambs, with additional supply covered through imports. During last year’s Easter period, more than 50,000 lambs were processed.

Logistical Challenges And Regulatory Responses

Movement restrictions are affecting transport and processing of livestock. Leivadotius said slaughterhouse operations have been disrupted, prompting discussions with authorities on measures to improve transport and processing efficiency.

Regional Implications And Import Adjustments

Following reported cases on Lesvos, Cyprus suspended imports of meat from the area. Imports from Lesvos are typically limited, but alternative supply sources are now being considered.

Maintaining Production Amid Health Concerns

Emphasizing the need for decisive action, Leivadotius urged industry stakeholders and the wider public to heed expert guidance on disease containment. He underlined that accelerated vaccination efforts and stringent movement controls are essential to curb the spread of the virus, thereby allowing production levels to return to normal.

Stability In Halloumi Exports

Michalis Koullouros, representative of the Cyprus Cheese Producers Association, said halloumi exports and prices remain stable, with producers continuing to meet domestic and international demand. Around 80% of Cyprus’ milk production is used for halloumi, with exports accounting for €350 million of a €400 million market. He added that significant livestock losses could affect production levels if the situation worsens.

Future Considerations And Industry Priorities

Looking ahead, industry experts remain watchful of the potential reevaluation of the Protected Designation of Origin (PDO) timeline for halloumi. Although discussions on revising the current schedule have not yet taken center stage, the primary focus now is on containing the outbreak and reinforcing support for livestock producers. This strategy is essential for restoring production and ensuring the industry’s long-term viability.

In summary, while the outbreak of hemorrhagic fever has led to some immediate market adjustments, decisive regulatory action and industry resilience may well steer Cyprus’ livestock and dairy sectors back on track in the near future.

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