Near-term sentiment is on the rise among Dubai’s business leaders, with the IMF forecasting a healthy GDP growth rate of 4.2% in 2019 for the emirate. While not as exposed as some of its regional neighbours to the effects of fluctuating commodities prices in recent times, Dubai nevertheless stands to benefit from the knock-on effects of higher prices over the last year.
Dubai has continued to meet its targets in becoming the global capital of Islamic finance, nearly doubling the number of sukuk (Islamic bonds) listings on its exchanges since 2017. Furthermore, eased policy restrictions to encourage foreign investment and the 2019 budget’s continued commitment to infrastructure development ahead of Expo 2020 are expected to continue driving economic activity. As one of the most diversified economies in the region, Dubai continues to present growth opportunities in various sectors including tourism, logistics, manufacturing and education. Although the emirate has benefitted from its proximity to oil and gas fields, Dubai is right at the forefront of the emerging cleaner energy world, and developing and promoting renewable technologies, including solar energy and electric vehicles.
Ahead of the competition: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai...
Building ties: Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry, on...
Fiscal optimisation: Sami Al Qamzi, Director-General, Department of Economic Development (DED), on...
Agile and adaptive: Ahmed bin Sulayem, Chairman, Dubai Multi Commodities Centre (DMCC), on new...
Implementing technology: Bernd van Linder, CEO, Commercial Bank of Dubai, on the increased use of...
Building blocks: Hamed Ali, CEO, Nasdaq Dubai, on diversifying the market’s offerings to attract...
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