Emirates chief says hospitality and tourism will fuel Dubai's growth. The potential that Dubai holds for a quick restoration of high growth mirrors the vast promise of the Menasa region.
The hospitality and tourism sectors will fuel sustained growth and investment in Dubai over the next decade, said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee and Chairman of Emirates Group.
Speaking at the Menasa Forum in Dubai last night, Sheikh Ahmed said: "Dubai is leading a strong tourism rebound in the Middle East. Tourism growth will continue to generate a powerful multiplier effect on the economy due to its strong indirect effect on various other key sectors."
"Corporate governance is another important focus for us. The Emirates Securities and Commodities Authority's Corporate Governance code for joint stock companies has created strong benchmarks for transparency and corporate systems and controls. The measures taken by Dubai in the past few months have created renewed confidence among global financial institutions. What secures Dubai's growth over the long term is its strong fundamentals - its sound infrastructure base, well-entrenched position as a global and regional business hub, its location between Europe and Asia and at the centre of Menasa and most importantly - the vision and commitment of its leadership."
He said the potential that Dubai holds for a quick restoration of high growth mirrors the vast promise of the Menasa region. The region has clearly demonstrated its ability to get back on the high-growth track. "However, we need to continue our focus on improving systemic issues. If left unaddressed, they can hold us back from a robust growth path."
"I believe that the Menasa should play a stronger leadership role in guiding the global economy to a more sustainable growth path. Now is the time for Menasa to use its rising prominence to contribute to global efforts to reshape the economic and financial landscape."
