US Secretary of State Mike Pompeo speaks with UAE Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan at the Department of State in Washington, DC, on May 14, 2018. / AFP / JIM WATSON
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The United Arab Emirates has announced plans to allow 100 percent ownership and visa incentives to foreigners, in a bid to attract investors to boost its slowing national economy.The UAE leads all Arab countries in terms of foreign direct investment, attracting $11 billion last year -- a jump of 22 percent on 2016 -- according to the International Institute of Finance.The International Monetary Fund earlier projected that UAE economic growth would fall from 3.0 percent in 2016 to 1.3 percent in 2017 .Capital Economics, a London-based think tank, however has said that the UAE economy grew by just 0.5 percent last year.
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