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UAE key hub for Bric capital
(MENAFN- Khaleej Times) Nance is playing an important role in enhancing the UAEs global standing Capital inflows into the UAE from emerging markets particularly the Bric countries — Brazil China India and Russia — surpass inflows from Middle East the North Africa region Fortress Investments a leading investment firm operating in the Middle East said on Monday. The capital invested in the UAE from the Mena region is more in the form of individual property assets whereas UAE’s role in attracting capital flow from Bric countries is the result of progressive government measures and global partnerships. — KT file photo
India commands a major share of Bric capital coming into the UAE which has become one of the world’s sought-after investment destinations.
The UAE is becoming more important on a global scale in addition to emerging as an unparalleled investment hotspot said Hamed Mokhtar Managing Director at Fortress Investments.
“The capital invested in the UAE from the Mena region is more in the form of individual property assets whereas UAE’s role in attracting capital flow from Bric countries is the result of progressive government measures and global partnerships” he said.
India commands the lion’s share of Bric capital flowing into the UAE. The UAE is a net importer of capital mainly from emerging markets and regional markets where capital inflow from developed markets is low said Mokhtar.
This significant revelation comes on the heels of index provider MSCI’s upgrading the UAE to “emerging market” status thus putting the Emirates in the ambit of the Bric grouping.
According to the Institute of International Finance capital flows to emerging markets are predicted to be at $1.079 trillion some $47 billion less than previously predicted and down from $1.188 trillion in 2013. Next year however they are seen rising to $1.164 trillion.
The GCC received $1.6 billion in total foreign direct investment from India in 2012 — a figure that’s only expected to rise over time due to increasing trade relations and the complementary strength of their economies.
“Financial robustness of the UAE financial markets specifically the Abu Dhabi Securities Exchange and the Dubai Financial Market not only spells financial gains but also stronger economic sentiment that boosts the image of the UAE as a global powerhouse that is much valued by groups like Bric” said Mokhtar.
He observed that finance is playing an important role in enhancing the global standing of the UAE. “In flashback Dubai’s hosting of the annual meeting of the World Bank and the International Monetary Fund in 2003 provided the first spark to catapulting the emirate on the global stage. Since then Dubai and the UAE started to make rapid strides as far as finance generation is concerned.”
— issacjohnkhaleejtimes.com
India commands a major share of Bric capital coming into the UAE which has become one of the world’s sought-after investment destinations.
The UAE is becoming more important on a global scale in addition to emerging as an unparalleled investment hotspot said Hamed Mokhtar Managing Director at Fortress Investments.
“The capital invested in the UAE from the Mena region is more in the form of individual property assets whereas UAE’s role in attracting capital flow from Bric countries is the result of progressive government measures and global partnerships” he said.
India commands the lion’s share of Bric capital flowing into the UAE. The UAE is a net importer of capital mainly from emerging markets and regional markets where capital inflow from developed markets is low said Mokhtar.
This significant revelation comes on the heels of index provider MSCI’s upgrading the UAE to “emerging market” status thus putting the Emirates in the ambit of the Bric grouping.
According to the Institute of International Finance capital flows to emerging markets are predicted to be at $1.079 trillion some $47 billion less than previously predicted and down from $1.188 trillion in 2013. Next year however they are seen rising to $1.164 trillion.
The GCC received $1.6 billion in total foreign direct investment from India in 2012 — a figure that’s only expected to rise over time due to increasing trade relations and the complementary strength of their economies.
“Financial robustness of the UAE financial markets specifically the Abu Dhabi Securities Exchange and the Dubai Financial Market not only spells financial gains but also stronger economic sentiment that boosts the image of the UAE as a global powerhouse that is much valued by groups like Bric” said Mokhtar.
He observed that finance is playing an important role in enhancing the global standing of the UAE. “In flashback Dubai’s hosting of the annual meeting of the World Bank and the International Monetary Fund in 2003 provided the first spark to catapulting the emirate on the global stage. Since then Dubai and the UAE started to make rapid strides as far as finance generation is concerned.”
— issacjohnkhaleejtimes.com
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