Dubai economic news |
SEPTEMBER/OCTOBER 2010 |
 |
|
Dubai sets the pace in the UAE
A recent special report by Standard Chartered Bank identifies Dubai as leading the UAE in the non-oil growth sector. The bank said that the emirate’s diversified economic base will be key in the future and they believe the economy driven by retail, logistics, financial services and hospitality is positively placed in the medium and long term.
Currently, more than 98% of Dubai’s economy is non-oil based. The emirate is already the world’s third largest re-export centre after Hong Kong and Singapore. Trade accounts for nearly 40% of Dubai’s GDP, while services make up more than 25% of the economy.
A paper commissioned by the GCC substantiates these views “Dubai has set the pace for diversification in the UAE and for the wider GCC,” it said. “Further heavy investment in developing key infrastructure, such as the new metro system and the stock of available – now relatively affordable – accommodation should keep Dubai’s economy very competitive,” it added.
More info: Standard Chartered
UAE transport on the right road
A Dubai Chamber of Commerce & Industry analysis released recently showed a strong potential and positive growth outlook for the UAE’s transportation sector further evidence that the UAE is well on track for a robust recovery in the coming years ahead.
Dubai is heralded for leading the way in developing its transport infrastructure with the government planning long-term plans to direct funds and resources into transport infrastructure. Current projects include the parallel roads project by the Roads and Transport Authority (RTA), the new tramline, Dubai Metro and a possible expansion of Jebel Ali Port by the Dubai Ports Authority (DPA).
The government also has plans to invest £52m in the development of its aviation sector as part of its Strategic Plan 2015 which will develop Dubai as a leader in aviation and logistics.
More info: Dubai Chamber
Al Futtaim has come out on top of a YouGov Siraj study, to assess the reputation for inspiring trust of some of the more well-known family-owned businesses in Dubai; it was closely followed by Juma Al Majed in second place.
A key measure they use to assess corporate reputation is how willing people are to recommend an organisation as an employer. 63% of respondents say they would definitely recommend Al Futtaim group as an employer whilst 57% approved of Juma Al Majed.
The two businesses also lead the way for perceived good customer service, corporate leadership and professionalism. When participants were asked which would be the companies where they would invest a hypothetical £17.5k the same two names topped the list.
More info: Al Futtaim | Juma Al Majed
