Ministry of Economy and Tourism and IFC explore cooperation opportunities in tourism investment, financing, and new economy

H.E. Bin Touq holds meeting with Managing Director of the International Finance Corporation

H.E. Abdulla bin Touq Al Marri, Minister of Economy and Tourism, held a meeting with Makhtar Diop, Managing Director of the International Finance Corporation (IFC), and his accompanying delegation at the Ministry’s headquarters in Dubai. The meeting explored opportunities for collaboration in tourism investment, financing and the new economy, in line with IFC’s role in supporting sustainable economic development, catalysing investment in high-growth sectors and driving the transition towards innovative and flexible economic models.

H.E. Bin Touq highlighted the UAE’s commitment to strengthening cooperation and forging partnerships with international financing institutions and major investment companies. This supports the implementation of development projects across key economic sectors, strengthening the UAE’s role as an active partner in promoting sustainable economic development regionally and globally, and reinforcing its position as a leading global destination for business and investment.

The Minister of Economy and Tourism elaborated on the UAE’s new economic model based on knowledge and innovation, and its effectiveness in navigating global economic and geopolitical shifts while accelerating economic diversification. Non-oil sectors contributed more than 77 per cent to the UAE’s GDP during the first quarter of 2025. H.E. emphasised that this model continues to elevate the UAE’s attractiveness for companies and investments across advanced economic sectors, including FinTech, entrepreneurship, small and medium-sized enterprises (SMEs), tourism, clean energy, sustainable manufacturing, smart transportation and circular economy.

His Excellency further highlighted the UAE economy’s continued growth, supported by flexible and competitive economic policies and legislation, as well as partnerships with strategic markets regionally and globally. Thanks to these efforts, the country’s non-oil GDP grew by 5.3 per cent to reach AED 352 billion during the first quarter of this year.

The meeting also discussed the means to enhance cooperation between the UAE and IFC to support Emirati investments in emerging markets in Latin America, which offer significant growth opportunities and promising potential across various economic sectors. Both sides underscored the importance of strengthening partnerships and leveraging international expertise to attract investment and support UAE companies in expanding their operations in these promising markets.

H.E. Bin Touq was briefed on IFC’s plans in the UAE and its partnerships with investment funds and companies, aimed at expanding UAE investments in sustainable economic sectors and supporting investment opportunities in emerging markets.

The meeting further explored the Ministry of Economy and Tourism’s vision to encourage investment and forge partnerships across sustainable tourism domains. This fosters the development of tourism infrastructure, promotes eco-friendly projects and enhances the UAE’s competitiveness as a global destination for sustainable tourism.