Dubai's core strengths 'remain fundamentally sound'

25/04/2010 - Dubai Investment News
Dubai's core strengths 'remain fundamentally sound'

Posted by Bob Brunskill

Dubai's underlying economic strengths remain intact despite the global downturn, a new study has found.

The report by the Dubai Chamber of Commerce & Industry noted that in recent years, government investments in Dubai have largely been channelled into financing infrastructure and public utilities.

It argued that as the global economy recovers, these investments will prove to be particularly beneficial in the long-run as productivity and innovation improves in all sectors of the economy.

The body put forward a range of measures to bolster Dubai's fundamental strengths during the recovery, including a revival of free trade agreements to promote new trade opportunities in the emirate.

It added: "The government needs to continue with its Keynesian type fiscal policies such as focusing efforts on infrastructure investment which will support increased employment and economic activity."

This week, the latest HSBC Gulf Business Confidence Index revealed that business confidence rose across almost all Gulf countries in the first quarter of 2010.
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