UAE economy 'remains strong'

01/12/2009 - Dubai Investment News
UAE economy 'remains strong'

Posted by Neil King

One minister has claimed that the UAE economy is strong despite the global downturn, which will be welcome news to owners of commercial property in Dubai.

Sultan Bin Saeed Al Mansouri, minister of the economy, said: "Currently, the industrial sector contributes [to] more than 27 per cent to the gross domestic product (GDP) and we have clear directives to further strengthen this sector to make it one of the main contributors to the local economy."

He added that the GDP increased to AED 929 billion last year, compared to at figure of AED 6.5 billion in 1971.

Al Mansouri attributed this rise to the region adopting sound economic policies.

According to the Technical Federal Institute of Zurich University (ETH Zurich), the UAE comes 35th in the world - in terms of demonstrating the greatest incorporation within the global economy.

ETH Zurich institution is responsible for providing a research location for 20,000 people from across 80 different nations.

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