Sheikh Mohammed bin Rashid meets Dubai businessmen and government dignitaries

Vice President and Ruler of Dubai says development is a continuous process aimed at achieving the nation’s goals and aspirations

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Dubai's economy, which made a strong rebound last year from the coronavirus-induced slowdown, has carried the growth momentum into this year. Ruel Pableo / The National
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Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Tuesday met various local dignitaries, heads of Dubai government entities and businessmen at his Majlis at Zabeel Palace.

They discussed initiatives and efforts to further improve government services and enhance the business-friendly legislative framework, which is vital to consolidate Dubai’s status as a preferred investment destination.

Sheikh Mohammed said that development is a continuous process aimed at achieving the nation’s goals and aspirations, Dubai Media Office said in a statement.

He highlighted the importance of partnerships between the public and private sectors to help realise the vision of the UAE as well as Dubai and accelerate the country’s development.

Sheikh Mohammed also emphasised the importance of exploring new public-private partnerships and discovering solutions to challenges that stand in the way of co-operation between the two sectors. He pressed the need to empower the next generation of entrepreneurs and showcase the experiences of successful Emirati businessmen.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the executive council of Dubai, and Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, also attended the meeting.

Dubai's economy, which made a strong rebound last year following the coronavirus-induced slowdown, has carried the growth momentum into this year.

The emirate's economy grew by 6.2 per cent in 2021, preliminary data from the Dubai Statistics Centre showed. In the first three months of this year, Dubai's gross domestic product expanded 5.9 per cent, government data showed.

Businesses remained bullish on the emirate's non-oil economy as Dubai retained its position as the world's top destination for foreign direct investment projects in the first half of this year, a recent report said.

In the first six months of the year, the emirate attracted 492 FDI projects, an 80.2 per cent year-on-year jump, data published by Dubai’s Department of Economy and Tourism showed.

Sheikh Mohammed expressed his appreciation for the efforts undertaken by various stakeholders to accelerate the UAE’s development journey and meet the needs of the community.

Productive partnerships between the public and private sectors over the past five decades have enabled the UAE to make significant achievements in various spheres and earn global recognition, he said.

Updated: November 15, 2022, 5:59 PM
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