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UAE: 50 Projects to Increase Growth, Double Foreign Investments

New projects in the UAE for 50 years involving various government and private institutions (WAM)
New projects in the UAE for 50 years involving various government and private institutions (WAM)
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UAE: 50 Projects to Increase Growth, Double Foreign Investments

New projects in the UAE for 50 years involving various government and private institutions (WAM)
New projects in the UAE for 50 years involving various government and private institutions (WAM)

The UAE will launch 50 new national projects this month to support the country’s development journey, Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Sheikh Mohamed bin Zayed Al Nahyan announced.

Sheikh Mohammed bin Rashid Al Maktoum said that the UAE will start the new phase of government work this year in a different way.

Sheikh Mohamed said: “After consulting with my brother Mohammed bin Zayed, we will announce 50 national projects during September. The UAE does not have the luxury of time and will not wait for global conditions to create its future. The UAE makes its future by itself. September 5 will be the beginning.”

For his part, Sheikh Mohamed bin Zayed Al Nahyan called on the UAE people to take part in these projects by harnessing their knowledge, creativity, and resourcefulness to seize the opportunities of the future.”

"The new projects aim to advance the UAE’s economy, a top national priority, to ensure a decent life for citizens and residents, double the Foreign Direct Investment and boost the UAE’s status as an incubator for talents and investors from all over the world.

They aim to transform the UAE into a comprehensive hub in all sectors and areas of creativity and innovation, positioning the UAE as a land of opportunities and a destination for those seeking a global testbed of bold and successful ideas.

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Taiwan Expects Small Impact from Trump Tariffs on Chip Exports

A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo
A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo
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Taiwan Expects Small Impact from Trump Tariffs on Chip Exports

A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo
A chip is pictured at the Taiwan Semiconductor Research Institute (TSRI) at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. Reuters/Ann Wang/ File Photo

Taiwan only expects a small impact from any tariffs imposed by the incoming government of US President-elect Donald Trump on semiconductor exports given their technological superiority, Economy Minister Kuo Jyh-huei said on Friday.
Home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co., the island is a key link in the global technology supply chain for companies such as Apple and Nvidia, according to Reuters.
But Taiwanese policymakers have warned new US tariffs against all countries from the Trump administration could curb economic growth this year for the export-dependent economy.
Trump has pledged a blanket tariff of 10% on global imports into the United States and a far higher 60% tariff on Chinese goods.
In late November, he specifically pledged a 25% tariff on imports from Canada and Mexico when he takes office on Jan. 20.
Asked at a news conference about the impact on Taiwan's export orders of Trump's tariffs, Kuo said it would not much affect the chip sector.
“For our semiconductors and advanced processes, there is an advantage of technological leadership and that cannot be replaced, and so the impact will be small,” he added.
Taiwan will also help companies relocate supply chains to the United States as needed, away from where there might be high import tariffs, Kuo said.
“Now we see that we should be able to develop the aerospace supply chain industry in the United States, and do some joining up with the US aerospace companies, so that some of Taiwan's aerospace research and development centres can be moved there,” he added.