|
UAE plans to buy more overseas assets
11/21/2005
LONDON, Nov 20 (Reuters): The United Arab Emirates plans to increase its investment from surging oil income by buying more overseas assets and boosting infrastructure to attract foreign capital inflows, the country's economy and planning minister said.
In a rare interview, Sheikha Lubna al-Qassimi told the news agency "Because of the influx of petrodollars at the moment, that has created much more strength in the economy especially in the financial markets."
"At the same time there has been quite a lot of investment abroad too. Diversification and global investment is the way forward ... You have to provide a balance between looking for opportunities overseas as well as locally," she said in the interview cleared for publication Saturday.
|