Thanks to the strategic vision of its leadership, the UAE has succeeded in strengthening its position not only on the political, humanitarian and economic levels in the region and most notably around the world. UAE’s leadership has consolidated the country’s global economic position enabling their economy to become one of the most competitive, advanced, and pioneering economies in the world. The strategic vision to move toward a reliance on an innovative strategy has resulted in enormous economic growth and diversification.
This economic growth and diversification has led to achieving economic development and establishing a stable financial system. This is characterized by flexibility and financial solvency, as the UAE’s financial reserves recorded steady growth in the past years. In this context, Vice Chairman of the Board of Directors of the New York Stock Exchange and President of the New York Stock Exchange Institute, John Tuttle, confirmed that the UAE has succeeded in strengthening its position. The UAE has become a major player through pioneering initiatives and investments in projects with a strategic and sustainable dimension, making it an ideal partner for the New York Stock Exchange in exploring new markets and investment opportunities in the financial field.
According to Tuttle, the financial markets in the Emirates have near boundless potential according to the highest standards and are characterized by flexibility as a result of legislation that keeps pace with financial and legal development and innovation. This lofty economic position that the UAE has reached is due in part to the financial infrastructure they have developed that is comparable to what exists in other major global economies.
It is worth mentioning that these features that characterize the UAE make it an attractive point for foreign investments and the most important market in the Gulf region and the Middle East to North Africa. This is what prompted the New York Stock Exchange to sign a memorandum of cooperation and understanding with the Abu Dhabi Securities Market in several financial fields. Tuttle considered that The memorandum of cooperation signed with the Emirates is a real and very important opportunity to build a bridge between the West and the East, which will benefit those wishing to invest between the two sides of the world.
Therefore, this partnership between the New York Stock Exchange and the Emirates will enhance communication between global financial markets and will also allow international investors in the United States to access markets and high-performing companies in the Gulf region and beyond. John Tuttle said that the cooperation of the New York Stock Exchange, the largest stock exchange in the world, with the Abu Dhabi Securities Market, is a strategic step toward expanding the scope of the stock exchange and enhancing its capabilities in the Middle East. This is especially true since New York Stock Exchange and the Abu Dhabi Securities Market share a set of institutional values in addition to lofty goals.
We conclude by saying that the UAE is the most capable country in the region to play an international financial role that contributes to the stability of the global economy. This fact gives investors a golden opportunity to capitalize in the most emerging, powerful, and reckoned economies, and confirms the global economic status of the UAE and its pioneering role at all levels.
