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Associated Press
UAE announces plan to invest in economy, liberalize laws
The United Arab Emirates announced on Sunday a major plan to stimulate its economy and liberalize stringent residency rules for foreigners, as the country seeks to overhaul its finances and attract visitors and investment. Now marking its 50th anniversary, the UAE is seeking to accelerate its economic and social reforms to rebrand for a post-pandemic future. Specific projects have yet to be announced, but $1.36 billion has been earmarked for Emirates Development Bank to support the industrial sector.
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