‘UAE safest investment destination’

November 18th, 2008 - 4:15 pm ICT by IANS  

Dubai, Nov 18 (IANS) Strong regulatory measures and corporate governance are two fundamental factors in the continuing growth of the economy of the United Arab Emirates (UAE), the federation’s foreign trade minister has said, WAM reported.Welcoming delegates to the inaugural meeting of the World Pension Forum, Sheikh Lubna Al Qasimi said the stable economy of the UAE has offered one of the safest investment destinations in the mid of the global market meltdown.

Hosted by Dubai Group financial service, the forum opened in Dubai Monday and will run till Thursday.

“I can tell you that nowhere else will you find a more open and welcoming business environment than in the UAE,” the minister said.

Around 18 companies out of top 50 in the Global Fortune 500 list, such as GE, Citigroup, Samsung, Honda, Nissan, Siemens, HSBC, Deutsche Bank, Goldman Sachs and IBM have substantial operations in Dubai.

The forum in Dubai attracted more than 80 leading pension funds from the US, as well as government officials and senior executives of leading UAE companies.

The forum is designed to facilitate the development of long term partnerships between the funds and the Middle East.

Founded in 1992, the World Pension Forum hosts various conferences around the world to help US pension fund managers allocate funds to potential investment destinations.

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