Dubai calls for stronger public-private partnership to drive economic growth

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Department of Economic Development

Source:  www.zawya.com

His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Economic Sector Committee, President of Dubai Civil Aviation and the Chairman and CEO of Emirates Group, called for stronger public private partnership to stimulate economic growth by leveraging arising opportunities and leveraging Dubai’s extensive expertise in diverse sectors.

Department of Economic DevelopmentAddressing the Dubai Economic Outlook 2011 seminar organised by the Department of Economic Development (DED) in Dubai today, Sheikh Ahmed Bin Saeed Al Maktoum said Dubai is determined to promote a culture of transparent dialogue and international engagement as the emirate moves to the next level of growth and economic diversification.

“Our infrastructure has expanded to become one of the best in the world, and our systems and processes continue to evolve in line with international best practices. We are also witnessing the continued excellence of the logistics, retail, trade and tourism sectors, which power the dynamics of Dubai’s economy, and reiterate their legacy as the chief engines and enablers of growth,” Sheikh Ahmed said.

He added that the current growth indicators of Dubai’s traditional sectors along with the phenomenal development in infrastructure will reinforce Dubai’s pre-eminence as a hub for regional and global trade.

“In 2010, logistics, manufacturing and financial services accounted for around 40 per cent of Dubai’s GDP. Arrivals through Dubai International Airport recorded an increase of 15.3 per cent to reach 47.2 million in 2010. The first phase of Al Maktoum International Airport, the world’s largest passenger and cargo hub, is now open for cargo movement. Once fully operational it will have an annual capacity of 160 million passengers and handle more than 12 million tonnes of cargo.”

Sheikh Ahmed said that to maximize benefits from the positive growth environment Dubai needs to maintain and build on productive partnerships through platforms like the Dubai Economic Outlook seminar. “The global economic landscape offers a greater opportunity for Dubai to better utilise its sectoral expertise and growth experience and strategic orientations for its own benefit as well as for the benefit of a wider global community,” he added.

The first-of-its-kind seminar, organised as part of DED‘s commitment to the overall development, policy making and planning in relation to Dubai economy, is aimed at providing strategic insights and first-hand information about the sectoral growth prospects in the emirate and to build positive synergies between the public and private sectors in order to achieve optimal growth.

“We firmly believe that sharing views between representatives of the public and the private sectors in such a forum on the economic prospects in Dubai can benefit all parties, leading to better informed decision-making in the private sector and to improved economic policy-making as well,” His Excellency Sami Al Qamzi, Director General of the Department of Economic Development, said.

Al Qamzi said he was confident that the seminar, proposed to be an annual event, will serve as a perfect platform for forward-planning and dialogue on macroeconomic and sector-specific issues and opportunities, as well as on the key economic drivers in Dubai.

The seminar brought together private sector champions and heads of major public sector organizations to provide informed estimates on Dubai’s positioning in view of the macroeconomic and global context as well as an assessment of the extent of economic diversification in the emirate.

The seminar sessions included “Macro Outlook 2011”, “Dubai and the World”, and “Sector Outlooks” before concluding with the speakers’ assessment of the “Key Drivers of Growth in 2011”.

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