Ahmed Bin Saeed: Large Investment Projects to Boost Dubai’s Growth and International Leadership
Originally published in albawaba (link below)
Dubai’s economy is expected to expand further over the next two years after having outperformed global economic growth and defied downward trends that prevailed worldwide in 2016, said His Highness Sheikh Ahmed bin Saeed Al Maktoum, Second Deputy Chairman of The Executive Council and Chairman of Economic Development Committee.
The results of Dubai Plan 2021 Annual Report ‘Dubai Pulse’ highlight that the economic performance of the emirate is better than other economies in the region, and that Dubai’s stable macroeconomic environment, its diversification and sustainability policies, growth strategies and infrastructure initiatives continue to fuel outstanding economic performance even when the global economy faces headwinds, said Sheikh Ahmed.
“Diversification, resilience and sustainability are enshrined in every project, policy and strategy that Dubai adopts, including, for example, the Dubai Plan 2021, Dubai Industrial Strategy 2030, and Expo 2020. The oil sector now makes up for less than one per cent of Dubai’s GDP, while varied initiatives have opened up unprecedented opportunities for global businesses in several non-oil sectors,” added Sheikh Ahmed.
Opinion polls point to strong consumer confidence in Dubai’s economy, with Dubai’s Consumer Confidence Index reaching 138 points in 2016, similar to the previous year. About 80% of the respondents rated Dubai’s economy positively during the current period. This is also in line with the respondents’ positive assessment of current job opportunities.