The World Bank announced that it has signed a partnership framework with the United Arab Emirates Ministry of Investment to support a comprehensive investment reform agenda. The agreement is aimed at improving the predictability, transparency and international competitiveness of the UAE's investment environment and strengthening the country's position as a destination for foreign direct investment. Under the framework, the World Bank will deploy its global knowledge and expertise to strengthen the institutional foundations needed to attract and sustain high-quality investment and to help the UAE capture emerging opportunities in the global investment landscape. The release says the partnership supports the UAE's National Investment Strategy and builds on a 2019 framework agreement with the Ministry of Finance. In remarks included in the release, the Ministry of Investment said the UAE aims to double annual foreign direct investment by 2031 to USD 65 billion.