UAE’s goal of Developed Market Status hailed

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UAE's goal of Developed Market Status hailed

UAE’s goal of Developed Market Status hailed

Following global markets index provider MSCI’s upgrading of the U.A.E. to emerging market status, the country’s next goal is to win ‘developed market’ ranking by 2018.
The bold new goal has been hailed, among others, by Fortress Investments, a leading investment firm operating in the Middle East, which says that this demonstrates the U.A.E.’s insatiable thirst for higher international rankings and thus play a more pivotal financial role globally.
“The U.A.E.’s new drive to position itself as a strategic financial hub for a wider market covering Middle East and Africa (MEA) is of significant value to investments consultancies like ours,” said Hamed Mokhtar, managing director at Fortress Investments. “This gives room for U.A.E.-based regional consultants to tap a wider client base, leveraging the rising financial stature of the U.A.E..”

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