FCCI call for local investment plan

The chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) has highlighted the need for a local investment strategy that will explore business opportunities available in each emirate.

Salah Salem bin Omeir Al Shamsi spoke out during a meeting with the deputy chairman and the members of the Umm Al Quwain Chamber of Commerce and Industry.

Al Shamsi said the aim was to prepare an investment map that was based on competitive qualities and to come up with projects to target local as well as external markets.

He said the strategy should be drawn up by a group of highly qualified and experienced people.

Al Shamsi said the chambers federation, which is a representative body of the private sector, stressed the need to issue a host of investment laws, especially those governing the real estate sector since it affects various other economic, services and community segments.

Besides, he highlighted the need to speed up the issue of laws related to real estate activities such as lease, ownership, sale, purchase, mortgage, brokerage ownership and transfer.

Such laws will boost the economy as well as the competitiveness of the country, said Al Shamsi.

He said the federation seeks to find proper solutions to issues and problems facing private sector companies, which play an important role in the economic development process.

Al Shamsi said meetings between the chambers federation and members boost relations and develop services.

He praised the role played by the UAQ chamber in the service of the business sector and investors.

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