Latest news with #FIPA
Filipino Times
2 hours ago
- Business
- Filipino Times
UAE-based Filipino professionals can access PRC services in Abu Dhabi this August
Applying for a licensure exam or renewing your Professional ID card? Good news! The Professional Regulation Commission (PRC) is set to bring its services in Abu Dhabi this August, in a bid to assist Filipino professionals living and working abroad. From Aug. 23 to 26, 2025, the PRC will conduct its Foreign Mobile Service (FMS) in FIPA Schools, following successful missions in various countries such as Cambodia, Australia, Thailand, Japan, and Qatar. 'This activity reflects the PRC's commitment in recognizing the OFW professionals' unwavering dedication and contribution to nation-building,' the Commission said. PRC will offer the following services: Initial Registration; Renewal and/or Duplication of Professional Identification Card (PIC); Application for Licensure Examination; Issuance of Certifications and/or Authentication of PRC-issued documents; Issuance of Certificate of Good Standing; Application for Special Temporary Permit (STP); Application for Temporary Training Permit (TTP); Application for Registration under Mutual Recognition Arrangements (MRA), including issuance of Certificate of CPD Compliance; Renewal of ASEAN Chartered Professional Identification Card; and, Other PRC-related services Interested individuals are advised to create a transaction through the Licensure Examination and Registration Information System (LERIS) at They should select 'FMS – Abu Dhabi, UAE' as the venue and pay the corresponding fees. For more details, applicants may contact the PRC through [email protected]. Meanwhile, an oath-taking ceremony for the new Special Professional Licensure Examination (SPLE) passers is scheduled on August 23, at the Abu Dhabi Country Club.
African Manager
03-07-2025
- Business
- African Manager
Where have the billions in FDI gone? Are their numbers real?
A simple beginner-level search on ChatGPT about the role of Foreign Direct Investment (FDI) and why countries boast about its increase would tell you that FDIs inject capital into the local economy. This capital helps finance industrial projects, infrastructure, or local businesses. It can compensate for a lack of domestic savings or internal financing. FDIs can lead to technology and know-how transfers, as foreign companies often bring new technologies, advanced production processes, and improved work organization—contributing to the modernization of the local economy. FDIs create direct jobs (within the companies that set up operations) and indirect ones (in supplier networks, service providers, etc.), which helps reduce unemployment and increase household incomes. FDIs appear in the capital account of the balance of payments. They represent an inflow of foreign currency and can enhance a country's financial stability. They also strengthen public revenues. Even though some companies may benefit from tax incentives, FDIs still generate corporate taxes, consumption taxes, and social security contributions. In short, they have ripple effects on the local economy. FIPA: The main funnel of FDI figures Rarely a week goes by without FIPA or an economy-related ministry announcing a major FDI project, along with bold promises of job creation. According to UNCTAD, the FDI stock in Tunisia has increased by 30% since 2010. By the end of 2024, international investments had reached 2.956.6 million dinars, a 16.7% rise. A fervent advocate of FDI, as though the country's entire future depended on it, FIPA Tunisia's Director General, Jalel Tebib, has come to dominate the narrative, nearly sidelining the Tunisian Investment Authority (TIA), which now risks joining the list of institutions targeted by presidential frustration. Tebib announced that foreign investments in Tunisia surged to 3.2 billion dinars in 2024. He even forecasts 4 billion dinars in 2025. The pro-government press eagerly spins this flood of figures, presenting them as 'Tunisia's bet in the face of global crisis.' Yet, there's little mention of what this 'bet' has entailed, such as the sequestration (some would say plundering) of funds in dormant bank accounts, which include money belonging to orphans and heirs. A different tune—echoing Cheikh Imam's song 'Bitter Words' Not everyone shares Tebib's narrative. Other credible sources do exist in Tunisia. One such voice is Professor Hachemi Alaya, whose EcoWeek bulletin dated June 29, 2025, ran with the headline: 'Tunisia, a Black Hole on the World Map of Foreign Investment,' backed by a telling table of figures. This renowned economist starts by denouncing what he calls 'a deceptive use of statistics,' noting that this is 'the lowest share recorded in over 25 years.' He highlights a 'deep deficiency in digital economy FDIs,' and laments that 'Tunisia is increasingly bypassed in global benchmarking reports.' While the local press claims record FDI inflows, echoing Tebib's words, Alaya counters that 'FDI inflows have stagnated for years' and that Tunisia recorded an 'investment shortfall of over 75 billion dinars between 2010 and 2024.' He bitterly observes that 'open data has given way to a very telling 'closed data' culture.' Where are the billions of dinars in growth and jobs? From our modest, beginner-level perspective, let this be clear to those who might accuse us of misinterpretation or hidden agendas, we simply observe, with official data from the National Institute of Statistics (INS) in hand, that Tunisia's trade deficit stood at 8.367,2 million dinars by the end of the first five months of this year. The coverage rate was 76.2%. Where are the 856 investment projects? Have they produced anything that improved Tunisia's foreign trade figures? In Q1 2025, the unemployment rate decreased to 15.7% from 16.0% in Q3 2024, according to the INS, which reported 664,500 unemployed persons, a mere 2,700 fewer than the previous quarter. Yet, end-2024 FDIs were supposed to generate 15,681 new jobs for young Tunisians and help boost social security revenues. If these aren't just inflated numbers, then where did they go? According to INS figures, Tunisia's GDP grew by 1.6% year-on-year in Q1 2025 (adjusted for seasonal variation). So how is it that the 2.956.6 million dinars in FDI, despite a 16.7% increase, didn't even contribute a modest half-point to economic growth? Shouldn't FIPA and company have spoken more cautiously, perhaps about FDI intentions rather than confirmed investments? Otherwise, why haven't these billions of dinars translated into more growth, more jobs, and more exports? And these billions—denominated in foreign currency, since they are FDIs, were they actually deposited in the Central Bank's foreign reserves, or were they already 'dinarized' for payroll and social expenses before delivering the promised employment and growth? These are just simple questions, asked by someone who admits to being a novice in both economics and politics.
Canada News.Net
26-06-2025
- Business
- Canada News.Net
UAE, Canada issue joint statement on visit to Ottawa of Abdullah bin Zayed
OTTAWA, 23rd June, 2025 (WAM) -- The Honourable Anita Anand, Minister of Foreign Affairs of Canada, hosted H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, for a visit to Canada from June 19 to 20, 2025. The visit reaffirmed the shared commitment of Canada and the UAE to deepen bilateral cooperation across trade, investment, innovation, people-to-people ties, international development, and regional peace and security. During the visit, H.H. Sheikh Abdullah Bin Zayed Al Nahyan met with the Right Honourable Mark Carney, Prime Minister of Canada. The two sides discussed the growing ties between Canada and the UAE. On behalf of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, H.H. Sheikh Abdullah bin Zayed Al Nahyan extended to Prime Minister Carney an invitation to visit the UAE this year. Canada and the UAE will continue to deepen their bilateral relationship by exploring new opportunities for cooperation, with particular emphasis on economic ties. Both countries welcomed the launch of the Dubai Chambers office in Toronto-the organization's first in North America-which will serve as a strategic platform to foster deeper commercial ties. The Honourable Maninder Sidhu, Canada's Minister of International Trade, attended the launch of the International Dubai Chambers alongside His Excellency Sultan bin Saeed Al Mansoori, the UAE Foreign Minister's Envoy to Canada. The new office comes as part of the Dubai Global initiative and deepening economic ties with Canada. This opening reflects a shared ambition to unlock new opportunities for collaboration in priority sectors, including artificial intelligence, energy and infrastructure, and underscores Canada's important role in the UAE's global trade and investment strategy. Both countries also recognized the important role of the Canada-UAE Business Council in bringing together business leaders from both countries to develop actionable business opportunities and advance national economic objectives. Building on the strong foundation of institutional partnerships-exemplified by the global collaboration between Caisse de depot et placement du Quebec and DP World across 15 ports and logistics parks-both countries expressed their intent to pursue new avenues for strategic investment and long-term economic engagement. Canada and the UAE reiterated their commitment to the swift conclusion of the ongoing negotiations for a Foreign Investment Promotion and Protection Agreement (FIPA). The Honourable Maninder Sidhu, Canada's Minister of International Trade, and Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, co-led a business round table on June 19, 2025, organized by the Canada-UAE Business Council. Artificial Intelligence, Emerging Technologies, and Digital Innovation: Recognizing the transformative potential of artificial intelligence (AI), both countries reaffirmed their interest in exploring collaboration in this critical domain. Canada, home to one of the world's most dynamic AI ecosystems, recently appointed its first Minister of Artificial Intelligence and Digital Innovation, reflecting a renewed national commitment to responsible AI leadership. The UAE, a global leader in AI and the first to appoint a Minister of State for AI, has articulated a dedicated foreign policy position on AI, emphasizing principles of international cooperation, sustainable development and responsible governance. In this regard, the UAE continues to invest in talent development, infrastructure and technology-access frameworks. The Ministers welcomed ongoing dialogue between institutions and stakeholders to explore cooperation in AI and emerging technology research, commercialization, and responsible deployment. Both sides emphasized the importance of inclusive, secure, responsible, and sustainable AI development that supports innovation and economic growth. Water: Both countries recognized that water lies at the core of climate action, affirming their shared commitment to addressing global water challenges. Both sides underscored the need to strengthen international cooperation, highlighting the upcoming 2026 UN Water Conference, to be co-hosted by the UAE and Senegal, as a key opportunity to advance global water efforts. They also stressed the importance of investing in water technology and innovation to scale up water-scarcity solutions, as exemplified by the UAE's launch of the Mohamed bin Zayed Water Initiative in early 2024. Energy and Natural Resources: Canada and the UAE reaffirmed their shared commitment to advancing energy security and accelerating a just transition to a low-carbon economy. The UAE's growing investment footprint in Canada demonstrates the strong commercial foundation for future cooperation. Canada welcomed the UAE's interest in formalizing energy collaboration. Canada recognized the UAE's pioneering efforts in the energy sphere and welcomed the UAE's interest in promoting greater energy collaboration on an international level. Canada also expressed support for continued dialogue on joint initiatives in decarbonization, liquified natural gas, nuclear, hydrogen, and critical mineral value chains. In this context, Canada and the UAE highlighted their dedication to build on their current ties in the fields of energy and critical energy-transition minerals, while including a focus on promoting investment opportunities and enhancing mutual investment attraction. International Peace and Security: Canada and the UAE reiterated their shared commitment to promoting peace, stability, and inclusive prosperity across the Middle East and beyond. Both countries emphasized the importance of sustained diplomatic engagement, humanitarian leadership, and multilateral cooperation in addressing geopolitical challenges. They unequivocally condemned all acts of terrorism. They reaffirmed the importance of maintaining and promoting peace and coexistence and their rejection of intolerance, hate speech, discrimination and all forms of extremism. Canada and the UAE also restated that the principles of dialogue, adherence to international law, and respect for state sovereignty are essential to resolving the conflict between Israel and Iran. Both sides stressed the need for an immediate and permanent ceasefire in Gaza; the release of all remaining hostages; and the urgent, sustainable, unhindered, at-scale flow of aid to address the appalling humanitarian catastrophe. Canada and the UAE also underscored the importance of sustained efforts to advance a serious political horizon toward the two-state solution. The Ministers reaffirmed the urgent need for de-escalation and urged all parties to refrain from actions that further destabilize the region. Both sides reasserted that diplomatic engagement remains essential to ensuring long-term regional stability and international security. Joint Committee for Cooperation: Both countries are actively using the Joint Committee for Cooperation (JC) as a strategic platform to drive forward a deeper, more institutionalized partnership. Through regular, high-level dialogue, the JC is advancing collaboration in priority areas such as trade and investment, defence and security, and climate and energy. Canada will host the next Ministerial meeting, reinforcing the shared commitment to sustained, results-driven engagement. International Development Cooperation: Canada and the UAE reaffirmed their mutual determination to address pressing global development and humanitarian challenges. Canada welcomed the UAE's role as a global development and humanitarian partner. Recognizing the unprecedented scale and severity of humanitarian crises around the world, Canada and the UAE reaffirmed their shared commitment to cooperate closely in delivering assistance and empowering communities. Both countries underscored the importance of this partnership, and committed to leveraging their complementary strengths, particularly during a time of intensifying conflicts around the world. Canada commended the UAE's global leadership in humanitarian and mediation efforts, including in Gaza, where the UAE has emerged as the largest bilateral aid donor, and in Ukraine, where the UAE has facilitated 15 prisoner-of-war exchanges, consistent with Canada's ongoing efforts to address the human dimension of the war. These efforts underscore a shared commitment to upholding international humanitarian law and fostering dialogue in times of conflict. Both sides emphasized the importance of pursuing durable and just solutions grounded in international law and inclusive political processes. They expressed their mutual intent to continue working together on their shared goals of advancing stability and development, promoting tolerance and coexistence, protecting human dignity, and addressing hate speech, discrimination and all forms of extremism. People to People: Canada and the UAE celebrated their deepening people-to-people ties, which serve as a cornerstone of the growing bilateral partnership. Canada welcomed the increasing number of Emirati students in Canadian higher education institutions, reflecting mutual recognition of academic excellence. The UAE acknowledged the valuable contributions of the more than 60,000 Canadians living and working in the Emirates, who continue to enrich the diversity, innovation and vibrancy of UAE society. The two countries also stressed their shared commitment to cultural exchange and intercultural dialogue to foster mutual understanding and respect. Both sides recognize the landmark presentation of the "As the Sun Appears from Beyond" exhibition, which celebrates the richness and diversity of contemporary Islamic art, and recently showcased in Toronto through a partnership between the Aga Khan Museum and the UAE Ministry of Culture. Conclusion: The two sides reaffirmed their strong and growing relationship, rooted in mutual respect, shared objectives, and a common vision for sustainable prosperity and global stability. The visit marked a significant step forward in the Canada-UAE relationship. Both countries are committed to maintaining high-level engagement, concluding further mutually beneficial instruments, and building a durable, forward-looking partnership that delivers tangible benefits for their peoples and contributes to global peace and prosperity.
Canada Standard
26-06-2025
- Business
- Canada Standard
UAE, Canada issue joint statement on visit to Ottawa of Abdullah bin Zayed
OTTAWA, 23rd June, 2025 (WAM) -- The Honourable Anita Anand, Minister of Foreign Affairs of Canada, hosted H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, for a visit to Canada from June 19 to 20, 2025. The visit reaffirmed the shared commitment of Canada and the UAE to deepen bilateral cooperation across trade, investment, innovation, people-to-people ties, international development, and regional peace and security. During the visit, H.H. Sheikh Abdullah Bin Zayed Al Nahyan met with the Right Honourable Mark Carney, Prime Minister of Canada. The two sides discussed the growing ties between Canada and the UAE. On behalf of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, H.H. Sheikh Abdullah bin Zayed Al Nahyan extended to Prime Minister Carney an invitation to visit the UAE this year. Canada and the UAE will continue to deepen their bilateral relationship by exploring new opportunities for cooperation, with particular emphasis on economic ties. Both countries welcomed the launch of the Dubai Chambers office in Toronto-the organization's first in North America-which will serve as a strategic platform to foster deeper commercial ties. The Honourable Maninder Sidhu, Canada's Minister of International Trade, attended the launch of the International Dubai Chambers alongside His Excellency Sultan bin Saeed Al Mansoori, the UAE Foreign Minister's Envoy to Canada. The new office comes as part of the Dubai Global initiative and deepening economic ties with Canada. This opening reflects a shared ambition to unlock new opportunities for collaboration in priority sectors, including artificial intelligence, energy and infrastructure, and underscores Canada's important role in the UAE's global trade and investment strategy. Both countries also recognized the important role of the Canada-UAE Business Council in bringing together business leaders from both countries to develop actionable business opportunities and advance national economic objectives. Building on the strong foundation of institutional partnerships-exemplified by the global collaboration between Caisse de depot et placement du Quebec and DP World across 15 ports and logistics parks-both countries expressed their intent to pursue new avenues for strategic investment and long-term economic engagement. Canada and the UAE reiterated their commitment to the swift conclusion of the ongoing negotiations for a Foreign Investment Promotion and Protection Agreement (FIPA). The Honourable Maninder Sidhu, Canada's Minister of International Trade, and Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, co-led a business round table on June 19, 2025, organized by the Canada-UAE Business Council. Artificial Intelligence, Emerging Technologies, and Digital Innovation: Recognizing the transformative potential of artificial intelligence (AI), both countries reaffirmed their interest in exploring collaboration in this critical domain. Canada, home to one of the world's most dynamic AI ecosystems, recently appointed its first Minister of Artificial Intelligence and Digital Innovation, reflecting a renewed national commitment to responsible AI leadership. The UAE, a global leader in AI and the first to appoint a Minister of State for AI, has articulated a dedicated foreign policy position on AI, emphasizing principles of international cooperation, sustainable development and responsible governance. In this regard, the UAE continues to invest in talent development, infrastructure and technology-access frameworks. The Ministers welcomed ongoing dialogue between institutions and stakeholders to explore cooperation in AI and emerging technology research, commercialization, and responsible deployment. Both sides emphasized the importance of inclusive, secure, responsible, and sustainable AI development that supports innovation and economic growth. Water: Both countries recognized that water lies at the core of climate action, affirming their shared commitment to addressing global water challenges. Both sides underscored the need to strengthen international cooperation, highlighting the upcoming 2026 UN Water Conference, to be co-hosted by the UAE and Senegal, as a key opportunity to advance global water efforts. They also stressed the importance of investing in water technology and innovation to scale up water-scarcity solutions, as exemplified by the UAE's launch of the Mohamed bin Zayed Water Initiative in early 2024. Energy and Natural Resources: Canada and the UAE reaffirmed their shared commitment to advancing energy security and accelerating a just transition to a low-carbon economy. The UAE's growing investment footprint in Canada demonstrates the strong commercial foundation for future cooperation. Canada welcomed the UAE's interest in formalizing energy collaboration. Canada recognized the UAE's pioneering efforts in the energy sphere and welcomed the UAE's interest in promoting greater energy collaboration on an international level. Canada also expressed support for continued dialogue on joint initiatives in decarbonization, liquified natural gas, nuclear, hydrogen, and critical mineral value chains. In this context, Canada and the UAE highlighted their dedication to build on their current ties in the fields of energy and critical energy-transition minerals, while including a focus on promoting investment opportunities and enhancing mutual investment attraction. International Peace and Security: Canada and the UAE reiterated their shared commitment to promoting peace, stability, and inclusive prosperity across the Middle East and beyond. Both countries emphasized the importance of sustained diplomatic engagement, humanitarian leadership, and multilateral cooperation in addressing geopolitical challenges. They unequivocally condemned all acts of terrorism. They reaffirmed the importance of maintaining and promoting peace and coexistence and their rejection of intolerance, hate speech, discrimination and all forms of extremism. Canada and the UAE also restated that the principles of dialogue, adherence to international law, and respect for state sovereignty are essential to resolving the conflict between Israel and Iran. Both sides stressed the need for an immediate and permanent ceasefire in Gaza; the release of all remaining hostages; and the urgent, sustainable, unhindered, at-scale flow of aid to address the appalling humanitarian catastrophe. Canada and the UAE also underscored the importance of sustained efforts to advance a serious political horizon toward the two-state solution. The Ministers reaffirmed the urgent need for de-escalation and urged all parties to refrain from actions that further destabilize the region. Both sides reasserted that diplomatic engagement remains essential to ensuring long-term regional stability and international security. Joint Committee for Cooperation: Both countries are actively using the Joint Committee for Cooperation (JC) as a strategic platform to drive forward a deeper, more institutionalized partnership. Through regular, high-level dialogue, the JC is advancing collaboration in priority areas such as trade and investment, defence and security, and climate and energy. Canada will host the next Ministerial meeting, reinforcing the shared commitment to sustained, results-driven engagement. International Development Cooperation: Canada and the UAE reaffirmed their mutual determination to address pressing global development and humanitarian challenges. Canada welcomed the UAE's role as a global development and humanitarian partner. Recognizing the unprecedented scale and severity of humanitarian crises around the world, Canada and the UAE reaffirmed their shared commitment to cooperate closely in delivering assistance and empowering communities. Both countries underscored the importance of this partnership, and committed to leveraging their complementary strengths, particularly during a time of intensifying conflicts around the world. Canada commended the UAE's global leadership in humanitarian and mediation efforts, including in Gaza, where the UAE has emerged as the largest bilateral aid donor, and in Ukraine, where the UAE has facilitated 15 prisoner-of-war exchanges, consistent with Canada's ongoing efforts to address the human dimension of the war. These efforts underscore a shared commitment to upholding international humanitarian law and fostering dialogue in times of conflict. Both sides emphasized the importance of pursuing durable and just solutions grounded in international law and inclusive political processes. They expressed their mutual intent to continue working together on their shared goals of advancing stability and development, promoting tolerance and coexistence, protecting human dignity, and addressing hate speech, discrimination and all forms of extremism. People to People: Canada and the UAE celebrated their deepening people-to-people ties, which serve as a cornerstone of the growing bilateral partnership. Canada welcomed the increasing number of Emirati students in Canadian higher education institutions, reflecting mutual recognition of academic excellence. The UAE acknowledged the valuable contributions of the more than 60,000 Canadians living and working in the Emirates, who continue to enrich the diversity, innovation and vibrancy of UAE society. The two countries also stressed their shared commitment to cultural exchange and intercultural dialogue to foster mutual understanding and respect. Both sides recognize the landmark presentation of the "As the Sun Appears from Beyond" exhibition, which celebrates the richness and diversity of contemporary Islamic art, and recently showcased in Toronto through a partnership between the Aga Khan Museum and the UAE Ministry of Culture. Conclusion: The two sides reaffirmed their strong and growing relationship, rooted in mutual respect, shared objectives, and a common vision for sustainable prosperity and global stability. The visit marked a significant step forward in the Canada-UAE relationship. Both countries are committed to maintaining high-level engagement, concluding further mutually beneficial instruments, and building a durable, forward-looking partnership that delivers tangible benefits for their peoples and contributes to global peace and prosperity.
Dubai Eye
24-06-2025
- Business
- Dubai Eye
AI among key sectors unlocked in new UAE-Canada partnerships
The UAE and Canada will expand cooperation in several key sectors, including artificial intelligence, trade and energy. It follows UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan's official visit to Canada last week, where he held talks with Canada's Foreign Minister Anita Anand and Canadian Prime Minister Mark Carney. The two sides emphasised the need for responsible and inclusive AI development, welcoming "ongoing dialogue between institutions and stakeholders to explore cooperation" to support "innovation and economic growth". The two sides also announced the launch of Dubai Chambers' first North American office in Toronto, intended to strengthen economic ties and foster new opportunities for trade and investment. They also reviewed the ongoing work of the Canada-UAE Business Council and existing partnerships between DP World and Caisse de Depot et Placement du Quebec (CDPQ). Discussions also continued towards concluding a Foreign Investment Promotion and Protection Agreement (FIPA). On climate and water issues, the two nations reaffirmed their commitment to addressing global water challenges, with a focus on technological innovation and collaboration in the lead-up to the 2026 UN Water Conference, which the UAE will co-host. Energy cooperation also featured prominently, with both countries agreeing to deepen collaboration in clean energy, decarbonisation and mineral development. In discussions on peace and security, Canada and the UAE called for an immediate and lasting ceasefire in Gaza, the release of hostages and unhindered humanitarian aid access. Both governments reiterated their support for a two-state solution, condemned extremism and hate speech and stressed the importance of diplomacy and respect for international law in resolving regional conflicts. Canada also acknowledged the UAE's humanitarian leadership, particularly in Gaza and Ukraine, including its role in aid delivery and prisoner-of-war mediation. The two nations reaffirmed their shared commitment to international development, humanitarian assistance, and long-term conflict resolution rooted in human dignity and inclusive political processes. People-to-people ties were highlighted as a foundation of the bilateral relationship. Canada welcomed the growing number of Emirati students in Canadian universities, while the UAE recognised the contributions of more than 60,000 Canadians living and working in the Emirates. The two sides also celebrated ongoing cultural exchanges, including the 'As the Sun Appears from Beyond' exhibition presented in Toronto in collaboration with the Aga Khan Museum.
