The administration of Sharjah, one of the UAE’s seven emirates, continued to implement its long-term economic plan in 2014, with major progress points including the government’s first international sale of sukuk, the sharia-compliant equivalent of bonds, and a partial opening of the real estate sector to foreigners. Efforts are ongoing to enhance...
The adoption of a technique called performance-based budgeting (PBB) could help Dubai’s government boost its efficiency, fulfil a government-wide mandate to leverage information and communications technology, and get the most out of its public spending. This process has the potential to save millions of dirhams, essentially by helping to anticipate costs more accurately...
Strong fundamentals and a diversified economy are keeping concerns at bay in Dubai, despite a potential cooling of investor sentiment across the region and weakening global conditions. Dubai announced a balanced budget for 2015 at the start of January, as it plans to increase spending by 9% year-on-year, with spending and revenues both projected at Dh41bn ($11.2bn),...
Developing small and medium-sized enterprises (SMEs) is a priority for the Dubai government. As in many developing countries, these businesses account for the bulk of commercial establishments — about 95%, according to government figures. However, while they employ 42% of the workforce and account for 40% of the total value added in the economy, they are not seen as a...
Located at the mid-point between Europe and Asia, Dubai has built a diverse, competitive economy, well connected to the rest of the world by major transportation links. While the focus in recent years has been on Dubai’s recovery from the global financial crisis of the late 2000s, resumed growth has shifted the emphasis to a forward-facing outlook as Dubai seeks to...
With Dubai now putting the global financial crisis behind it, policymakers are seeking new opportunities to shape the emirate’s economic narrative in the years to come. The lead-up to Expo 2020, which will require major development efforts to accommodate an influx in tourists, will serve as a guideline for forecasting growth in highly correlated sectors such as...
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