EIA announces plans to move focus of future investments

19/05/2011 - Dubai Investment News Posted by Bob Brunskill
EIA announces plans to move focus of future investments

The Emirates Investment Authority (EIA) is to move the focus of future investments from telecoms into financial services, healthcare and education.The UAE's only federal sovereign wealth fund, which was set up in 2007, controls the federal government's stakes in a number of key firms, ArabianBusiness.com has reported.Paul Oliver, EIA's treasury director, also revealed that the wealth fund may issue bonds in the future with any move linked to an investment."The sectors that we're very interested in are financial services," he told reporters at a loans conference in Dubai."We're interested in creating a financial services hub in the UAE, and clearly healthcare, education, food in the broader sense like processing."Asked whether the EIA is looking at any particular assets in Dubai, Mr Oliver refused to comment.EIA has interests in a range of asset classes, including fixed income, private equity funds and local equity markets.