Recent stimulus packages have radically contributed to increasing the non-oil private division across the country, according to the chief of the UAE Federation of UAE Chambers of Commerce and Industry (FCCI).
In a joint meeting of the FCCI General Secretariat and Directors of the Chambers of Commerce, Humaid Mohammad Bin Salim, FCCI Secretary-General, anticipated the non-oil private segment to exponentially grow throughout 2019.
“The FCCI is joining forces with all departments concerned to tap fresh markets abroad for the private sector, and to build up constructive partnerships that add value to the domestic economy,” he added.
The meeting addressed the most recent business developments through Q1 2019 in terms of the investment inducements to be created by the FDI Law as well as the role of the economic committee established by the Chambers of Commerce in this respect.
“The recent SME-focused and export-oriented stimulus packages represent significant catalysts for private sector companies to utilize available economic opportunities up for grabs on the local, regional and international levels,” Bin Salim added, noting that the FCCI is seeking to double efforts exerted in this respect over the coming period.