UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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At the Philippines and United Arab Emirates Forum, the Philippines showcases economic growth and investment opportunities.

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UAE

This year the Department of Trade and Industry (DTI) Secretary Fred Pascual highlighted the Philippines' economic prowess and emerging as a prime investment hub during the Philippines and United Arab Emirates Forum and Networking on November 24, 2023, at a recent gathering at the Shangri-La Hotel, Bonifacio Global City.

Pascual lauded the country's outstanding economic progress and investor-focused policies aimed at establishing it as a powerful participant in the global market. Recognizing the critical role of foreign investments in moving the Philippine economy ahead, he emphasized the need of partnership with international investors, noting, "The Philippines is on the path of robust economic expansion." Our government's strategy relies heavily on engaging investors, such as many of you, thus we welcome you to consider the Philippines as a potential investment location. 

In which the event provided an opportunity for the Philippines to highlight its economic progress, infrastructure development, and investor-friendly policies. Pascual's emphasis on encouraging international enterprises to consider the Philippines as a favorable growth environment is consistent with the government's objective to promoting a robust and competitive economy.

As the UAE and  the Philippines maintain their position as appealing investment destinations, collaborative conferences like this play an important role in developing international alliances and promoting economic success. The event not only celebrated the country's successes, but it also invited worldwide investors to join the Philippines on its path to long-term economic development.  

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