Country Profile
From The Report: Dubai 2015
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Continued recovery from the effects of the 2008 global financial crisis has set Dubai on a robust growth path moving forward. Dubai’s population stood at 2.27m as of mid-2014, and as of the end of 2012, Emiratis made up around 11% of the population, while expatriates accounted for the remaining 89%. The emirate is pushing ahead with efforts to develop sharia-compliant industries in the region, with plans for support services, start-up incubators and halal clusters supporting a positive mid-term growth forecast. In 2014 Dubai reinforced its reputation for ground-breaking initiatives with the launch of Dubai Smart City, a plan designed to make it a leading, global smart city. Elsewhere, strengthening GCC-Asia relations are expected to result in the expansion of trade links between the two regions.

This chapter contains a viewpoint from Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; and interviews with Abdul Latif Al Zayani, Secretary-General, GCC; and Ahmed bin Saeed Al Maktoum, Chairman, Dubai Expo 2020 Preparatory Higher Committee.

Articles from this Chapter

Overview

Dubai looking forward to a new economic growth cycle
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In many respects, 2014 marked Dubai’s transition from strong recovery to promising growth, as the emirate entered a new development cycle fuelled by a booming real estate market and continually strong expansion within the tourism and retail sectors. Already a regional and global hub for business and finance, Dubai’s successful Expo 2020 win only helped to solidify the emirate’s reputation as a leading global investment destination, and the UAE’s MSCI upgrade from frontier to emerging market…

Viewpoint

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on development progress
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As we see off an eventful federal year, we welcome anew year united in our efforts and resolute in our vision to maintain security and stability. We will continue our sustainable development drive to both increase prosperity and progress and preserve our traditions, heritage and identity. It is time to look into the future with confidence and optimism. We stand on solid ground. Our people are enjoying the fruits of the development process and are becoming an essential part of it. Our country is enjoying…

Analysis

A halal world: The emirate is leading efforts to develop sharia-compliant industries
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The bid by Dubai to become a global centre for Islamic products and services has progressed steadily in recent years, with the newly established Dubai Islamic Economy Development Centre (DIEDC) now leading efforts to expand and diversify the emirate’s offerings. Ongoing development will be supported by a host of new initiatives unveiled in 2014 and 2015, with plans for support services, start-up incubators and halal clusters driving a positive mid-term growth forecast. Islamic Economy Islamic…

Analysis

Deeper GCC relations with Asia on the horizon
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Trade relations between the GCC and Asian economies have been growing steadily for some time now. Recent developments suggest, moreover, that they are set to expand further over the next decade. While there are some risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of potential trade agreements, increased diplomatic engagement, and the possibility of new political and security arrangements. Free Trade Agreements In September…

Interview

Abdul Latif Al Zayani, Secretary-General, GCC: Interview
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Interview:Abdul Latif Al Zayani How is the GCC working with the EU to bring about greater economic and trade cooperation? ABDUL LATIF AL ZAYANI:Cooperation between the GCC and the EU dates back to the early days of the GCC establishment in 1981. The GCC tried to learn from the EU’s experience in regional integration and apply these successes to its own efforts in the Gulf region. In 1988, the GCC and the EU signed a Cooperation Agreement, which established mechanisms to facilitate…

Interview

OBG talks to Ahmed bin Saeed Al Maktoum, Chairman, Dubai Expo 2020 Preparatory Higher Committee
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Interview:Ahmed bin Saeed Al Maktoum What are the biggest challenges World Expo hosts face in trying to ensure that the wide variety of international participants and the private sector are all engaged? AHMED BIN SAEED AL MAKTOUM: There are a number of key factors that must be considered, such as excellent organisation, seamless operations, high exposure and a concept that generates a meaningful return on investment. In the case of World Expos this is even more critical given the wide range…

Analysis

GCC trade with Asia growing and diversifying
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Following a difficult period for the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai saw the second-highest rate of freight growth in the entire Asian region. This was part of an emerging trend of the maturation of GCC-Asia trade. A relationship that was once just based on energy demand is diversifying and the GCC is seen as a viable market for Asian goods and investment, a key transit point – given its developed infrastructure – for the fast-growing…