Global crisis won’t deter Dubai’s ambition

Nov 18, 2017 Blog

Global crisis won’t deter Dubai’s ambition

Mohammad His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said Monday that the UAE is one country and Abu Dhabi and Dubai will be there for each other whenever needed.

Shaikh Mohammad also told investors at the inauguration of the Mena and Frontiers Conference that Dubai’s economy was built on strong foundations and its success is based on diversified economy. Although there was a boom in the property sector, it is unfair to sum up Dubai’s success based on the performance of the property sector, he said. Shaikh Mohammad added that he had full confidence in Dubai’s ability to bounce back in the global market. “The worst is over and Dubai is now well-placed… The global economic crisis, despite its impact, will not deter Dubai’s ambitions.»

On the strong ties between Dubai and Abu Dhabi, he said: «Sometimes I read stories about Dubai and Abu Dhabi, separately. But Abu Dhabi is Dubai, and Dubai is Abu Dhabi. The ruling families of both emirates are one family. Al Nahyans and Al Maktoums are one family and come from the same tribe, Bani Yas. Our grandfather fought for the Arab Peninsula and we are very proud of our country, our people, our president and our government.» «Those who don’t understand this should learn. We will stay as one country, the United Arab Emirates, and I assure you that we will be there for each other when we need it.

We have a strong federation of all seven emirates, which forms a strong fort and a source of confidence and strength,» Shaikh Mohammad added. He said several important projects have been implemented in Dubai, and the emirate was proud of its knowledge-based economy. «Dubai is capable of overcoming the economic slowdown, which gave us time to think and reflect, and to renew our compatibility,» he said, adding that the economic crisis created a state of silence, which gave way to rumours. This should not happen in the future, and good communication is a key factor to prevent it, he added. Shaikh Mohammad assured investors that the economic downturn is on the way out just like other crises that took place in the past. «I listened carefully to business leaders from all over the world and from many fields, I listened to their hopes and aspirations, and I assured them that we will continue to invest in the infrastructure to guarantee the success of investments,» he said. «Our recent celebration of launching the Dubai Metro stands evidence that Dubai’s status is secure in the short and long terms,» he added.

On a lighter vein, Shaikh Mohammad urged the audience to try the Metro because it is the first in the region without a driver. He described it as a very good experience and very safe, and quipped that «you don’t know where it’ll take you» because it has no driver.