(MENAFN- Kuwait News Agency (KUNA)) UAE Minister of Economy Sultan bin Saeed Al Mansoori inaugurated on Monday the 17th Arab Businessmen and Investors Conference (ABIC), being held under the patronage of UAE President Sheikh Khalifa bin Zayed Al Nahyan.
The gathering is themed "Investing in Entrepreneurship and Innovation" as this year's ABIC is being held in the UAE which has declared 2015 as the 'Year of Innovation," WAM news agency noted. "We are delighted to host the current ABIC, of which I am the proud Chairman in Abu Dhabi," said Sultan Mansoori, who is also Chairman of the Conference, in his inaugural speech. This comes at a time when the UAE topped the list of Arab countries in terms of the investment outflow for the period between 2003 and 2014, with USD 217 billion representing 58 percent of combined outflow, he pointed out.
"The 17th ABIC, held under the patronage of the UAE President, will bring to the table a number of vital topics to promote investment sectors in the Arab world and enhance coordination among Arab countries in terms of public and private sectors investments. The conference topics are of interest to all investors throughout the Arab world, to help them develop a diversified economy based on knowledge, competitiveness, efficiency, and transparency as well as excellence and innovation.
"ABIC and the companion Awards Ceremony is an opportunity to study the reality of the Arab investment sector and exchange experiences to develop new ways of cooperation among all participants. Entrepreneurship and innovation are major topics for this year's edition, while many other sub-topics will be discussed, including investment funds on the first day," Al Mansoori added.
The focus of the first day is in line with ABIC's general aim to help investors know the advantage of diversification and how to invest in various forms such as stocks, bonds, and others.
On the sidelines of the first day, many workshops were held to promote investment projects for entrepreneurs working in the SME sector.
The conference gathered representatives of the General Union of Chambers of Commerce, Industry and Agriculture for the Arab Countries, GUCCIAAC, the Arab League, UAE Ministry of Economy, UAE Ministry of Foreign Affairs, UAE Federation of Chambers of Commerce and Industry, Abu Dhabi Chamber of Commerce and Industry, Arab Investment and Credit Export Guarantee, Strategic Marketing and Exhibitions, as well as many Arab and international media agencies.
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