The goal of the fund is to encourage direct foreign investments to the country through financial incentives
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Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum announced the approval of the establishment of a national investment fund with initial capital of 36.7 billion UAE dirhams ($9.99 billion) to encourage foreign investment, in a post on X on Wednesday.
"The goal of the fund is to encourage direct foreign investments to the country through financial incentives", he said.
($1 = 3.6729 UAE dirham)
($1 = 3.6729 UAE dirham)
(Reporting by Elwely Elwelly Editing by Ros Russell)
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